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SLOWDOWN EATS INTO IT FRESHERS’ PARTY A Presentation By : AVICK BISWAS
• IF YOU THINK THE RECESSION IS OVER AND THE COMPANIES ARE HIRING, THEN THINK AGAIN …!
THE CONDITION NOW •
THE TECHIES TAKE HOME 20% LESS NOW.
•
THE PAY PACKAGE HAS DROPPED TO RS 1.7 LAKH AS COMPARED TO RS 3.5 LAKH 2 YEARS AGO.
•
THE ENTRY LEVEL SALARY OF IT PROFESSIONALS IS BROUGHT DOWN BY 20%
•
AS PER THE STATEMENT OF “GC JAYAPRAKASH”, A PRINCIPAL CONSULTANT OF STANTON CHASE INTERNATIONAL, THAT THE ENTRY LEVEL SALARY ARE DOWN BY ATLEAST 10 % TO 16 %.
THE CONDITION NOW CONTINUED… •
STILL A NUMBER OF SKILLED PROFESSIONALS ARE UNEMPLOYED.
•
THE IT FIRMS ARE FINDING IT DIFFICULT TO MANAGE UNUTILLISED RESOURCES SITTIG ON BENCH.
•
AS THE POJECTS OF IT COMPANIES LIKE WIPRO , TCS AND ARE SHELVED, THEY POSPONDED CAMPUS HIRINGS.
•
RECRUITMENT FIRMS SUCH AS “GLOBAL HUNT”, SAYS THAT HE ENTRY LEVEL SALARIES DROPPED BY 30% AS THERE IS INCREASD LEVEL OF AVAILABILITY OFSKILLED PROFESSIONALS.
THE REASONS •
SLOWDOWN.
•
INCREASED AVAILABILITY OF SKILLED PROFESSIONALS.
•
COMPANIES ARE TRYING TO UTILLIZE THE HUMAN RESOURCES STILL AVAILABLE WITH THEM.
•
MOST OF THE COMPANIES PROJECTS ARE ON HOLD, SO LESS OR NO NEW HIRING.
•
THE SUPPLY IS MORE THAN THE DEMAND.
CONSEQUENCES •
MANY SKILLED PROFESSIONALS ARE STILL UNEMPLOYED.
•
THE NEW PROFESSIONALS HAD TO ACCEPT A LOW SALARY , AS THEY HAVE NO BARGAINING POWERS.
•
EVEN THE EXPERIENCED EMPLOYEES WHO LOST THEIR JOBS FEW MONTHS AGO, ARE NOW BEING OFFERED ENTRY LEVEL SALARIES.
•
ECONOMIC IMPACTS:
•
THE INCOME IS LOW SO THE MONEY SUPPLY WITH THE INDIVIDUAL IS LOW.
ECONOMIC IMPACTS CONTINUED… •
LOW SAVINGS DUE TO HUGE EXPENDITURE.
•
LOWER CAPACITY TO SPEND RESULTS IN LOW DEMAND FOR THE PRODUCTS.
•
THE PER CAPITA INCOME IS FALLING AS COMPARED TO THE PREVIOUS 2 YEARS.
•
DUE TO LOW PER CAPITA INCOME OUR GDP IS ALSO AFFECTED AS IN 2007 GDP WAS 9.4% AND AT PRESENT ITS AT 6.4% (2009)
• THEREFORE THE CAUSES OF UNEMPLOYMENT OR LESSOR PAY IS NOT ONLY DUE TO THE EXTERNAL FACTORS LIKE “SLOWDOWN”, BUT IT IS ALSO CAUSED BY HEIGH SUPPLY OF HUMAN RESOURCES…
THANK YOU !
• IF YOU THINK THE RECESSION IS OVER AND THE COMPANIES ARE HIRING, THEN THINK AGAIN …!
THE CONDITION NOW •
THE TECHIES TAKE HOME 20% LESS NOW.
•
THE PAY PACKAGE HAS DROPPED TO RS 1.7 LAKH AS COMPARED TO RS 3.5 LAKH 2 YEARS AGO.
•
THE ENTRY LEVEL SALARY OF IT PROFESSIONALS IS BROUGHT DOWN BY 20%
•
AS PER THE STATEMENT OF “GC JAYAPRAKASH”, A PRINCIPAL CONSULTANT OF STANTON CHASE INTERNATIONAL, THAT THE ENTRY LEVEL SALARY ARE DOWN BY ATLEAST 10 % TO 16 %.
THE CONDITION NOW CONTINUED… •
STILL A NUMBER OF SKILLED PROFESSIONALS ARE UNEMPLOYED.
•
THE IT FIRMS ARE FINDING IT DIFFICULT TO MANAGE UNUTILLISED RESOURCES SITTIG ON BENCH.
•
AS THE POJECTS OF IT COMPANIES LIKE WIPRO , TCS AND ARE SHELVED, THEY POSPONDED CAMPUS HIRINGS.
•
RECRUITMENT FIRMS SUCH AS “GLOBAL HUNT”, SAYS THAT HE ENTRY LEVEL SALARIES DROPPED BY 30% AS THERE IS INCREASD LEVEL OF AVAILABILITY OFSKILLED PROFESSIONALS.
THE REASONS •
SLOWDOWN.
•
INCREASED AVAILABILITY OF SKILLED PROFESSIONALS.
•
COMPANIES ARE TRYING TO UTILLIZE THE HUMAN RESOURCES STILL AVAILABLE WITH THEM.
•
MOST OF THE COMPANIES PROJECTS ARE ON HOLD, SO LESS OR NO NEW HIRING.
•
THE SUPPLY IS MORE THAN THE DEMAND.
CONSEQUENCES •
MANY SKILLED PROFESSIONALS ARE STILL UNEMPLOYED.
•
THE NEW PROFESSIONALS HAD TO ACCEPT A LOW SALARY , AS THEY HAVE NO BARGAINING POWERS.
•
EVEN THE EXPERIENCED EMPLOYEES WHO LOST THEIR JOBS FEW MONTHS AGO, ARE NOW BEING OFFERED ENTRY LEVEL SALARIES.
•
ECONOMIC IMPACTS:
•
THE INCOME IS LOW SO THE MONEY SUPPLY WITH THE INDIVIDUAL IS LOW.
ECONOMIC IMPACTS CONTINUED… •
LOW SAVINGS DUE TO HUGE EXPENDITURE.
•
LOWER CAPACITY TO SPEND RESULTS IN LOW DEMAND FOR THE PRODUCTS.
•
THE PER CAPITA INCOME IS FALLING AS COMPARED TO THE PREVIOUS 2 YEARS.
•
DUE TO LOW PER CAPITA INCOME OUR GDP IS ALSO AFFECTED AS IN 2007 GDP WAS 9.4% AND AT PRESENT ITS AT 6.4% (2009)
• THEREFORE THE CAUSES OF UNEMPLOYMENT OR LESSOR PAY IS NOT ONLY DUE TO THE EXTERNAL FACTORS LIKE “SLOWDOWN”, BUT IT IS ALSO CAUSED BY HEIGH SUPPLY OF HUMAN RESOURCES…
THANK YOU !
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