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Time to test the waters

 
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The organization I have been working for past 2 years has started going into cost saving or cutting mode and getting rid of the first layer --> the contractors . Many have left and I will be following soon (Mid Feb). Jan & Feb are relatively quieter period and not the best time to test the waters. I started testing the waters and looks tough. It looks like there are so many potential candidates for a given opening. Also, there are only a handful of openings.


What I can't really understand is that this particular organization is over governed with managers and team leaders for every 3-8 staff (permanent), but they always start with contractors who do hands-on stuff. Also, in my view, waste lot of money in tools, people, etc when things are good, but become extremely over cautious when things look a bit bleak. The organization I work for is a retail sector selling basic needs. So, should be failrly stable compared to financial organizations.

Would like to hear fellow ranchers' experience and view.
 
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everything goes hand on hand. when things were good and companies were making profit we were also expecting good hike. Attrition rate was also high that time and companies had to offer competative packages/facilities because they knew if they dont do this they wont get good resources.

Now market is not good, ratio of number of job to ppl is more & attrition is going down....they wont think of holding employees but holding profit.

Everything changes with time & change is life

 
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This is my observation.

Market is not completely standstill. Things are moving in very slow pace but are moving. But you need to have skills which used to be hot some time back.
We feel market very tough because we are used to very hot market for last 6-7 years. It is not like that now. For one opening many hr consultants will send you mail because they also don't have business these days.
People who were working on contract, are going to suffer more.

About cost cutting, I have seen companies have started making cost cutting even on mineral water.
 
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Rajesh Thakare wrote:
People who were working on contract, are going to suffer more.



Why they are going to suffer more? I were thinking about freelancing too.

Call me stupid,I had to ask any way. :p
 
Sandeep Awasthi
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Why they are going to suffer more? I were thinking about freelancing too.



1) As Arulk mentioned layoffs starts from them.
2) I am not talking about freelancing here. I am talking about jobs on payroll. Few companies do not give permanent employment to the people working on contract. You might have noticed hr consutants' email where one point is mentioned "Are you permanent/contract employee"
 
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Rajesh Thakare wrote: For one opening many hr consultants will send you mail because they also don't have business these days.



There is another side to this story, and it is the willingness of the hiring managers to deal with a dozen agencies in order to find suitable (by whatever criteria they have) candidates.
When in the end, all those agents post the same announcement on the same job board, I see little added value for this approach, but apparently this is how it works now.
 
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I would assume that not every place around the world has a difficult market. Are you guys talking India? USA?
 
Sandeep Awasthi
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I am talking about India.
I have not attended any interview in last one year. But I do feel as many companies not hiring, not many people are looking out as well. Those who feel their jobs are safe, do not want to change company at this time. Only people who already lost their jobs or people who feel unsecured at their company or people who are too adventurous may be looking out. Not sure.
About USA, what we hear in news and from friends is it is more tough there.
 
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omi sharma wrote:

Rajesh Thakare wrote:
People who were working on contract, are going to suffer more.



Why they are going to suffer more? I were thinking about freelancing too.

Call me stupid,I had to ask any way. :p




Never be afraid to ask a question like this. It's why we have these forums.


I can't speak to other countries but in the US there are structural and legal reasons for this to be the case. Contractors often can be terminated at will; they typically have clauses requiring only 1-2 weeks notice. If a company needs to save money, it's a quick and easy way to do it. Employees on the other hand, may not be so simple to terminate. Even if they have an "at-will" contract, the company will still have to provide some severance and the insurance costs go up for a company (in the US all companies must pay in to unemployment insurance for W-2 employees); they also expose themselves to wrongful termination suits--which is much less likely from contractors.

Culturally speaking, moral is much more damaged when co-workers are let go than contractors. Employees are seen as loyal to the company and part of the family (at least more so than contractors), when they start to be let go, the loyalty takes a hit. Employees, seeing layoffs are also much more likely to pick up the slack and help the company/protect their own jobs, than contractors.

There are probably some other factors, too, but those are the two biggest that come to my mind.

--Mark


 
arulk pillai
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Well pointed out Mark.

I am talking about the Sydney market.
 
Bobby Sharma
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Rajesh : thanks for reply.

Mark : thanks for your suggestions and precious information


thanks all , I learned important things here.

best regards,
omi
 
arulk pillai
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If you look at the other side of the coin, I would think that the companies will be more inclined to hire contractors so that they can be easily terminated.
 
Sandeep Awasthi
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But companies will hire only if they have work. If they have work, why will they terminate existing employees. Though it may not be applicable to all the companies. Very few companies may be exception. But most of the IT companies are not getting new projects.
One may say they are hoping that they can replace terminated employee with lower salary person. But that could be very rare. People are loosing jobs because companies are not getting work for them.
 
arulk pillai
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You are right. Many companies do have a recruitment freeze and some have started on restructuring. There will always be some openings say 1-2 instead of 10-15, and for each opening there will be many potential candidates. The rates & salary are also going to be significantly cut. It is going to be the survival of the fittest. Recently I was approached by 8-10 different recruitment agencies for the same opening. Employers have more to choose from.
 
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Hi Arulk,

So.. it has been around 2 months since you made that first post.
What is the job market like? Any indications where it will be going over the rest of the year?

I was planning on moving to Australia around the middle of this year.
What I have been reading about the state of Australian IT job market has given me a bit of a pause, but still I am leaning towards sticking to my original plan if there is a reasonable chance that the market will improve by the last quarter of this year. What do you think?

Cheers,
Sonny
 
arulk pillai
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The market is still tough. It will be even harder without the local experience.
 
Sonny Gill
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Thanks, Arulk.
 
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