Hard times

Recession is all over the news. Companies have their own shares of battling with it. Some through retrenchment, others, cost-cutting in any form – reduced salaries, slashed training/team building budgets, forced leaves and so on. And we are not talking about small companies here. These are corporations which we may never think will experience it. These are even perhaps the companies which you so wanted to work for (Years ago, I wanted to work for a company that I kept applying whenever they have openings. Recently, I heard that they were letting go of people as early as 2008 :(). These are companies of the first world countries.

I for one was one of those retrenched during the economic crisis in 2001. Though I was given the right compensation and all the benefits that come with it, it was still tough. I mean, it’s not just about the money. It’s more of what it makes you feel about yourself really. Though the usual policy for retrenchment is FIFO (first in, first out), you still cannot stop yourself from thinking that you are not worth it so they are letting you go. It’s really a blow on your self-esteem and your over-all being. And the nightmare of job hunting is another story.

In all fairness to these companies who are letting go of people, they make sure that their employees get the standard separation package. Others even go the extra mile by giving out more than what is expected. Some companies give out trainings for new skills to employees so that they have other options once they leave their current job. Kudos to these companies!

Financial analysts say we will be experiencing this in the next 24 months or more. There are already a lot of articles related to battling with recession that’s circulating in the net, most of which are very good reads. It wouldn’t hurt if we follow some of it.

To those who have been let go or are about to be let go, I wish you luck in your new endeavors, may it be looking for other jobs or using your separation pays to start on businesses.

To those of us who still have jobs we hold on to, may we learn to value it and be grateful that we still have it. May we stay put even for just a little longer so as to give more opportunities for those who have lost their jobs, instead of becoming their competitors in the game of job hunting. Yes, we have our own ideals, and we also always have the choice of looking for better opportunities but at a time like this, I think it’s also nice to become unselfish for once and give others the chance to hope and dream again for themselves and for their families, to help them gain back their self-esteem, and to stand on their own two feet again. Don’t you think so?