With the current economic situation, I want to be prepared. I want to use the slowdown to correct couple of things in the way I think for me and my family.
- Have a budget for your home expenses and entertainment expenses and start tracking your monthly expenses.
- Do not overshoot or plan for large expenses assuming a hike in salaries
- Increments are likely to have a higher variable component linked to performance to help companies keep a check on their wage bills and incentives for good performance.
- Attrition is at low and hence there are more people to perform the job at same salary levels.Pull up your socks and ensure that you do not belong to the bottom quartile of performers
- Be patient. Do not crib ,if you cannot contribute. Be truthful and honest with relationships.
- In your existing organization, take a lot of initiative and be seen as a solid contributor in your team. If you have time, upgrade your skills. Try and be in the good books of your boss without compromising your conscience.