As the manufacturing sector holds back its expansion plans amidst weakening consumer sentiments, it is now the turn of workers and employees to brace up for the effects of an impending slowdown.
Human resources consultants feel it may be early days for downsizing, but advocate caution for both employee and employer.
So, while employers tread cautiously on fresh hiring, for employees it would be prudent to stick with their job and meet expectations as switch-overs could be risky. Fresh graduates may need to acquire more skillsets.
“The current economic environment is more challenging for the mid-tier ompanies and as such they are the ones with a more cautious outlook,” said Kamal Karanth, MD of global staffing firm Kelly Services India.
Karanth said fresh graduates may need to go in for acquiring greater qualifications.
Vikram Chhachhi, executive vice-president at Chicago-based HR firm DHR International, said there still exists a huge shortage of skilled professionals. “Job opportunities may still come. The catch lies in taking a practical decision and having realist expectations.”