Needless to say about what’s happening in today’s economic environment. It is compared with the Great Depression of 1929/30 and Governments all across the world are working in a collaborative manner to find out a quick as well as long term solution of the same. I won’t be touching much (I don’t know much as well) about what caused this dip and what to do in order to make sure that it will not happen again but I want to just write down my views on what to do right now in order to get least impact of the situation. Many of us have questions like
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Does it has any impact on our company/business
• How long it will take to recoup
• What should be the best strategy at this moment , etc etcThere are many experts and analysts who everyday answers questions like above and we get very good arguments as well as justifying explanations of the same. In my opinion this slowdown is holistic and no industry is completely protected. We are affected by this in one way or another. Also I don’t think that anybody has any idea about how long it will take. I leave this answer to the economists and analysts. I would be interested in putting my view on the question # 3 and putting down the responsibility of various economic stakeholders.
Responsibility of Employees: Ownership and commitment: I think these are testing time for all of us and we should increase our ownership and commitment level to the highest possible level. It does not matter what are our job and social responsibilities but even a little increase in the same is going to impact our organization and in turn the overall economy. An increased level of both would definitely be helpful to our organization, economy and country.
Efforts: We should be ready to put some the extra efforts to accelerate the things and it is indeed the need of the hour.
Trust : We should trust the people around us, our management, the people who are running the country and an increased level of trust will certainly be helpful in creating a positive environment at our work place. A happy feeling is what we would be carrying with ourselves and take that to our home. A feeling of mistrust is going to not only reduce our productivity and lead to Gossips but also would make us feel low and stressful.
Support: We should extend our best support to other people working with us professionally and socially. I strongly believe in the fact that “Together we will win”
Teamwork: Working in a team not only shares our problems/burden but also make us win convincingly. A team has a common goal and people are working TOGETHER to achieve that goal. It makes even the toughest work EASY and DOABLE.
Responsibility and commitment of Top Management and Managers Recognition: The top management and mangers must recognize the people who are working with them, recognize and appreciate even small good efforts/work. This greatly boost up the confidence and motivate everyone to work at next higher level of productivity.
Mixing up: Mixing up with people, sharing problems with them, inviting them to propose solutions and answering to their problems actually makes the work environment very positive and healthy. Forcing them to do something, not understanding their concerns can lead to unwanted results and great decrease in productivity.
Communication and Transparency: The communication level should be increased, individual and group meetings should be increased and staying in communication with them would enhance the confidence and in turn efficiency and productivity.
Responsibility of Government Encourage economy boost up activities: The governments should appreciate and support organizations such that the organization can increase their output and productivity which in turn would help in creating JOBS and would boost up the economy. Arranging funds( or making them easier to get) for start ups and growing companies, relaxing the legalities to a bit etc should significantly increase the same.
Better Tax Breaks for Employees and Employers: They can relax the tax breaks for organization for some time and the organization utilize the savings for further growth and pass on some of the benefit to employees .
Come in public/media and enhance people’s confidence in our economy and our country: The leaders and spokes person of government/organization should come out more and more in public and update people about their actions/results would certainly boost up people’s confidence and trust.
What’s AheadThese are not very good times. We should have faith in ourselves, our seniors , our organization and our country. Let us enjoy this time and take mini steps each to come out of this as soon as possible.-Vikas Kaushik
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