Wednesday, September 17, 2008

How to avoid Job Loss in a turbulent economy ?

Lehmann bankrupt ! Merill Lynch Sold out !! Is AIG next ???Since the credit crisis began last yr, the financial markets are badly hit.
Bear Sterns fall, 6 months ago, created panic in the financial sector. The impact is not just US and financial industry. The impact is world over. Since the big banks play a major role in the economy of most countries, all the countries have been badly hit.What happens in such a market is quite evident. Job losses, panic in market, gloomy scenario about the future haunts everyone.
Is there something you can do to get rid of such unexpected situations.
The answer is a big "YES" and I am here to suggest a few alternatives.

We all know that we should have a plan B ready, in case plan A fails. But how many of us really think about plan B ??

Let's suppose you were working with Lehmann or with Merill or you're working somewhere and you dont feel job security. What you possibly do is to look at various alternatives:

1. What are you really good at, except the work you do in your office. May be you're a great Cook and you always thought of running a restaurant. Whatever happens to lehman or merill, you can always be sure that your hotel/restaurant will make money becoz people wont stop eating if there's a financial meltdown !!

2. Did you always felt a desire to teach your favorite subject but never had time to do so ?Why dont you start part time tuitions in Arts, Science or history at your home ? A part from doing what you love, you'll make yourself independent of a need for a job !!

3. Well, if you still want to be in the financial domain, what about a teaching faculty position in a business school, where you can use your current banking/finance experience. I am sure even after financial markets have crashed, you ll find a plenty of teaching positions related to your experience.

4. What if you are a spanish, Italian or a Chinese living in a country whose native language is none of these languages. You may start your own Foreign Language classes ! I am sure you never even thought about this !!

These are just a few of the oppurtunities.
So guys and gals, dont feel depressed about the current financial situations in the world.
Take it positively ! Such situations make a stronger person and prepare you for unexpected possibilities ahead !

Just look around you ! You'll find thousands of oppurtunities !!


Anonymous said...

Nice article.

Anonymous said...

As always Ankit arora has come up with a lot of new ideas. This guy always has his thinking hat on I guess.

Nice thoughts mate..keep it up!!!!!!!!

Anonymous said...

great job dear...really a very nice and positive attempt...gr8 people hav gr8 thinkin...keep it up..

Anonymous said...

Hey Ankit, some good ideas here! Keep 'em coming.


Anonymous said...

The credit crisis only broke put topublic in 2008 but it has been happening since 2006 or even earlier than that. the banks were just good in keeping their tracks and assumed solvency was not a problem...but well, obviously they failed!

Liane said...

The thing is, jobless is an unwelcomed guest. Whether you like it or not, he may come even at the worst possible scenario. Sure, there are other ways to help you foolproof your self from getting sacked, but inreality, there's no telling. There are many industries that say 'they will not be affected by recession'. Directly or indirectly though, we are all affected.