Layoffs 2024 Updates | How to handle Layoffs Effectively | IT Layoffs | Tech Layoffs | #Layoffs News

hello everybody the markets are definitely improving but the layoffs are still happening the layoff situation is still not out of the market yet and in this video I want to talk about two things what is currently happening in the market and number two what are the activities that are under our control that we can do right now so that we are little ahead of the game and we don't feel the pinch too much this video I'm making with the only objective that there are things under your control I want to let you know that and you can do these things with a positive spirit and not get down and get demotivated because of the negative news let's get started with what's happening in the industry if we look into Dell one of the largest personal computer manufacturers has announced layoffs and Dell mentioned that there is a historical reduction in demand for personal computers in the last 2 years and hence they had no other option even in the Consulting World McKenzie according to Credible reports from Bloomberg and other sources they are offering 9 months of salary for the Consultants to take home if they are ready to quit the job immediately this is incredible I have worked in the Consulting space for a very long time but I've never seen this happening now this is very industry specific but also we are noticing some company specific issues because of potentially bad decision making in the past the crisis at Buu is still not over and it's just taking a to on the employees and on top of this PTM has still not recovered completely and it will take some time because of the restrictions put by RBI in the first place so what can we do let's look at some of the activities which are completely under our control so let's start with the first point which is please have an upto-date resume if you have been working in an organization for let's say 2 3 years there is a very high likelihood that you wouldn't have touched your resume even touched your resume for the same time frame so please get started with building your resume and make sure it is one page it talks about your own strength that you have developed over the last 2 years it is extremely difficult to build a great resume under stress because you are constantly applying you are constantly looking to send it to different people every single night making tweaks and yes this does take time and that is the reason why you need to spend time on building your resume once at least a few months and how do you do that I'm not saying that resume building has to be like hey you start from scratch there are multiple online tools out there which can help you start with a basic version of your resume if you already have one get started and build on top of your work experience do not ignore this simple step which is in your hand completely the second point I want to talk about absolve Absol provides a great subscription plan that can help you Safeguard your income against any kind of playoffs and how does absolve does it absolve provides unemployment allowance in case of a job loss you get 70% of your monthly salary twice it is the first time that this kind of program is launched in India their unemployment allowance is backed by IR licensed insurance company apart from unemployment allowance you also get placement assistance ta portal subscription LinkedIn noin subscriptions mental Wellness support and interview preparation support so that you can get back to your career at the earliest possible so for all the full-time employees out there it's a great option to safeguard your income and do check out their subscription plans which start only at $24.99 per year I've already talked about absolve in one of my previous videos and I'm glad to share that the customers who have bought absolve subscriptions have already availed benefits worth 60 lakhs employees from more than thousand companies have already purchased upsolve plans employees from LinkedIn VMware CSS huilo fly homes and many more have already availed their benefits so please go ahead and check out their subscription plans using the link in the description now moving on the third point I want to highlight is please in this time frame when things are going right for you make sure you follow the industry Trends and what do I mean by following industry Trends understand what's happening in the market not just the stock prices but the underlying pattern and where can you get them you won't get them in NDTV or you won't get them in some of these times of India or other newspapers you have to go into specific sources like McKenzie McKenzie quarterly reports or BCG Bane or Goldman Sachs reports or you can get from newspapers like business standard or even from newspapers like Economic Times Wall Street Journal these are some of very good sources and why is it important because you can be one step forward all you also need is spending probably 10 to 15 minutes on these resources you might waste a lot of time looking through the shots well if that gives us entertainment that's totally fine but to be ahead in our career we need to dedicate at least at least 10 to 15 minutes of our time for these kind of knowledge Powerhouse resources if you want you can also subscribe to this Channel and I will keep you posted regularly on what's happening on the industry front the fourth thing that I want to highlight is with respect to networking as we grow in our career networking becomes more important important because at a certain point we don't need our resume we need people to refer us and that doesn't happen in the first conversation you need to spend time and it could be your previous employer your previous colleagues or your current colleagues or your college classmates undergrad classmates or just the people that you find on LinkedIn doesn't really matter which group but when you have good times you need to spend time and cultivate these relationships and what is the issue that a lot of people face they get to LinkedIn or they act activate their networks only when they need a job and that's too late in my opinion when you are in a good position take this time to network and subsequently others can also benefit from your current position and the give and take the value exchange will happen organically so please do not ignore any of these things and the first step is get started with LinkedIn you don't need to write massive posts all you need to do is start adding value through comments just like what people are seeing and reach out to people with a personalized note hi my name is Pavan I have this particular background I would love to connect with you because I resonate with your views and I'm excited about the career path that you are currently on I get a lot of connection requests on LinkedIn but people do not even write these personalized messages so take that time out and get started with the networking app the next point that I want to highlight is about side hustle yes you need to reduce your overall dependency on your primary job and why is that important because it gives you that Financial Freedom and also that mental Freedom about whatever you want to do when you act with freedom you do the stuff that you like and you are also satisfied so do not ignore that Financial Freedom which could come from a side hustle and this side hustle need not give you a great salary this side hustle if it gives you let's say covering one Emi across the all the emis that you might have that is a good side hustle this financial Independence will also lead to better decision making in the overall career I have made multiple videos on side hustles and I'll also give you a few links in the description but the ultimate point is you have to get started it is always 6 months out we have spent a lot of time in our careers four years in undergrad X number of years in Primary School secondary school high school only to get to a job to earn a decent salary right now imagine how difficult it would be to again get a salary through a side income and we have to give that we have to respect that difficulty and we have to spend that time so please do get started it is never too late but it will always take time once you get started so the sooner the better the next point that I want to highlight is about your mental approach towards how you are looking into your career yes we cannot change a lot of career outcomes unfortunately even if we are doing all the right things but what we can control is how we are approaching these things what is our mindset this is the only thing that is under our control and how we approach these things make a lot of difference in what is the end result so you have to stay positive and how can you build that positive mindset one of the good ways is you have your own group of people who can support you at any given point in time for me I personally have a good fantastic support system I have friends who I can rely on in my bad days I have family who can rely on my bad days good days and also I have a few Professional Network colleagues who I can reach out to for advice anytime it took a long time for me but these guys are giving me that positive mind frame every single day so please do not ignore this this is one of the most important things and the next one again which is under our control is trying to upskill and I will focus primarily on AI the reason is very simple across multiple conferences that are happening around the world private Equity conferences Venture Capital conferences until the last year there were multiple topics under discussion there were topics about blockchain there were topics about AI there were topics about healthc care specifically etc etc but now all these conferences are talking about the exact same thing that is AI and they're not comparing AI with internet anymore they are comparing AI with electricity that is the fundamental level of change that we are talking about and if you are in any profession legal healthc care technology doesn't really matter there is always that adjacent AI opportunity waiting for you and you need to get started you need to upskill and how do you get started if you are an entry-level professional start with a piece of code learn a language understand the building blocks in the AI World get a data analytics course but if you are already an executive or if you are already a seasoned professional learn about how AI tools can be implemented in your own job role that's important too so do not ignore AI if you are doing it it's at your own risk I hope all these points should give you that Head Start and will keep you ahead of the race and potentially it will even help you move out of the race and build your own path before concluding the video you might be looking at my background and saying that hey this guy changed his background no I'm currently teaching entrepreneurship at Trinity College Dublin Ireland and that's the reason why I'm here this week and shooting the videos on the Trinity camp but I'll be back at my home and you'll be looking at the same background next week see you again guys take care bye-bye

Channel: Pavan Sathiraju

Views: 17,105

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Id: JsyTs5_GxNk

Length: 10min 57sec (657 seconds)

Published: Tue Apr 09 2024