HOW TO BEAT THE CURRENT RECESSION?



 From Sampath’s Desk:


HOW TO BEAT THE CURRENT RECESSION?


During the 1930s, the world experienced the worst, horrible, catastrophic and unprecedented depression – ‘The Great Depression’ – with production, employment, income and trade tumbling to the lowest levels. Agricultural sector was more affected than industrial sector because the fall in agricultural prices was pronounced, conspicuous, steep and rather protracted. The depression was worldwide but its timing and impact varied in different countries across the globe. After 1935, the economy started recovering slowly but the Depression’s adverse implications on every walk of life were enduring. It took several years to stem the rot and stabilize it and get the economy back on the rails.

The bailout by the U.S. of American International Group, Lehman Bros, Citigroup, Chrysler/General Motors, Fanniemae & Freddie, and other companies coupled with the fact that other companies filing for bankruptcy, has created apprehensions that it may affect Indian companies as well. The situation appears to be nebulous and volatile, though not a terrific one. However, fear has already gripped the minds of stake-holders and employees of Indian companies. The result may be a ban on recruitment, probable decrease in stock values, unstable market trends, sluggishness in economic activity – all that may cause flutters and jitters in the trade-finance-commercial world and fear of job losses, rising unemployment, downward trend in emoluments and inevitable heavy workload for existing employees. The situation has assumed different contours in different sectors and segments and may be fraught with unfavourable consequences in them in future. India may have to start facing the music sooner or later in spite of assurances and suggestions of good health of economy held out from certain quarters.

In the backdrop of this tough scenario and caught amid pulls and pushes, vicissitudes of oscillating factors, tough days ahead and the much-felt need to perform excellently against all odds, the workforce of today may have to sweat it out for their existence and sustenance. Corporate top brass would pass on the pressure and buck to middle/lower level managers, who in turn, overtax workers not only to give their best but also work overtime, even without recompense. The workforce may end up becoming workaholics without any time for relaxation/entertainment besides getting into a tight corner where they may develop inescapable stress-related complications.

Monotonous work may cause boredom. To decrease stress, one can take one’s eyes off the computer for a while and get the eyes de-stressed. This will help in recouping energy. While at a daunting task, completely dissociate from it for a while so as to continue it a little later with renewed vigour. Take a deep breath as frequently as possible.

Laughter can slaughter stress and tension. Reading books that may be of interest and inspiration will work. Build up a suitable philosophy to take trying situation(s) in one’s strides. Again, developing a sense of humour at home and workplace will be very useful. With preventive measures taken by the government, let us fondly hope that things would turn well for the betterment and steady growth of our economy in the days ahead.

   

(R.SAMPATH)

12/5/2009

(This article ‘HOW TO BEAT THE CURRENT RECESSION?’ was published in THE NEW INDIAN EXPRESS on 18.5.2009)

 

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