- About Us
- Life @ Layam
- Case Studies
- Contact Us
Job market and hiring have become very buoyant. In the present scenario, the Human Resource which we always have been proud of has replaced its stature from ‘Resource’ to ‘Commodity’. The Corona effect and the ensuing Work from Home concept has given rise to a new dimension in the hiring world. Today’s Human Resource is trying to make the best of this situation like the old proverb “Make Hay when the sun shines”. However, it may have a cascading effect on their career which will ultimately lead them to nowhere. Let me elucidate this with an example, If a person is drawing Rs. 10,000/- CTC and is suddenly offered a hike of Rs.40,000/- CTC, he will obviously be very happy with the huge jump in his salary but this may lead to disastrous consequences. Not all may go through this but majority will be Sufferers than Gainers in the system such as:
1) Entire job market compensation structure will have a tremor effect and an added escalation in cost to the Employer
2) The Employer has to run his business so he may not mind to take such temporary shocks but when the market eventually settles down, it leads to another cycle of clipping which will have a dreadful effect on the high-cost resource
Here, the employer is not at fault because he would like to have a low cost, high yield strategy at the right time.
Now, what happens to the Resource?
After getting this enormous hike, his personal expectations and standard of living will obviously go up. He becomes a favorite customer of the bank who allures him for long term EMIs!
The sudden change in standard of living creates a mindset change for kids and other family members. However, if something untoward happens and the Resource is not able to manage the situation, the entire family is bound to suffer mental agony and depression.
Is it necessary? -This question often comes to my mind
In a way all of us are responsible for this debacle! In some countries, they have put a ban that the increment should not be more than 40% to 50%. There is an urgent need for us to introspect and ensure that the compensation structure of the country which also impacts the economy is not bulldozed without any justification.
The mental and social health of our resources has to be protected. We should not let them fall prey to this damaged system that is prevalent today. Industrial bodies and Government alike must also make a note of this and ensure equilibrium so that a healthy and stable system can be maintained. Then, I’m sure the economy of our country will be strong and stable in the true sense.
There may be several people who may find my thought process weird. But I urge you to sit back, analyze and think about the future. We have to get sensitized with what is happening around us, be it in the pretext of corona or otherwise.