Sorry You are Fired
When 11,000 people are fired indiscriminately, 11,000 families are affected.
FB fires.
Twitter fires.
Baiju fires.
What's the lesson?
Can 11,000 people be inadequate or incompetent??
Welcome to the Hire & Fire Culture
Welcome to the job culture of the 21st Century
While we may celebrate return to the offline world but there is more to this than what meets the eye. The Online Industry is using post Covid as a Convenient Excuse. It is the Lay Off Culture (Hire & Fire Culture) that is here to stay.
I grew up listening to how doing a job was the safest thing to do in life.
How the tables have turned on their heads!!!!!
Today jobs is perhaps the riskiest of all things
What makes it even more cruel, is the fact that high paying jobs alter our lifestyle and our habits. High paying jobs encourages one to enhance their lifestyle. This means taking large EMIs to support bigger homes and bigger cars. What one does not understand is that when one loses a job, the incomes come crashing down. A person earning crores can suddenly see salary become zero. Thus is the biggest risk we are living with is uncertainty
Fortunately there is a solution for all this. But unfortunately we are never taught about how money management can be the biggest risk mitigation tool. Keeping one's lifestyle in check is the single most important risk mitigation factor. Secondly creating a financial freedom corpus early in life is important. We don't understand the power of money as an income generator. Money has been positioned as a goal fulfiller / as something that will help us to buy the things we dream of. Also Money has been positioned as something that will help us when we are old. These Misconceptions about Money make us take all kinds of EMIs to enhance our standard of living. EMIs were still ok a decade ago when real estate prices were moving up very fast. But now that is not the situation. Real Estate is illiquid, produces very low Capital Growth & Rental Yield (CGRY). EMIs are Financial Freedom Guzzlers (FFGs) because they delay your Financial Freedom date. They look good when one is young but transform themselves into ugly monsters when one ages.
Keeping an eye on one's lifestyle is very very important as the lower it is the faster one can create the freedom corpus. Don't make your lifestyle so large as to make it impossible to build a mega corpus in a reasonable period of time.
Today we need to build the freedom corpus in 10 to 15 years. It is important to start building this corpus around the age of 20 so that by 35 one is financially free. Financial Freedom is like a Foundation / Bed Rock that takes care of life expenses. Having secured this Corpus by the age of 35, one is then free to do anything including working in High Paying High Risk Tech Companies or wherever. A Freedom Corpus also allows you to start a Business Practice or even gives you the confidence to start an Enterprise (Company, Team, Processes).
Gone are the days when jobs offered stability and a definite career.
Gone are the days when you would lose your job for incompetence or unethical conduct.
Gone are the days of job guarantee.
Even Tatas and Birlas are not in a position to provide this kind of guarantee that they once provided. However higher salaries provide us the privilege of building a freedom corpus early in life
For this one has to make the right choice between enhancing lifestyle (rat race) and building a freedom corpus.
If you have built a freedom corpus then you need not worry about layoffs or any other systemic shock like lockdown (Covid 19)
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