How to survive in a IT recession?

IT is going in a recession. Many IT companies in India already started layoff,and reflections are there in Technopark too.Economists think it will continue for one or two more years. So every industry as well as IT is going to face a hard time.

So here technoparktoday.com is giving some tips to IT professionals to survive the recession.

1. Stop JUMPING and start THINKING.

Job changing or JUMPING from a company to another with out any solid reasons ( everyone says better career, but only a 10% is concerned about a better career in terms of technology,and rest of them are jumping because of better offer from another company). Believe me i know several people who changed their job about 5 times in a year and got 4 times of salary. such kind of jumping is not ethical, and the other company may offer you a job if nobody else is available for that position.but that will be a BLACK mark in your career. many companies started to think in that direction. so STOP jumping your jobs in this time because if a recession occurs there is a great chance for you to be be kicked out of the company first.because you are highly paid than your peers with same experience.

2. Stop ‘Investments’ and control your buying habits

IT people is spending money like anything. they are the major factor behind the irrational price hike in the real estate industry around the IT parks like Technopark and Infopark. Most of the money is taken as loans and remember You are in DEBT.people bought the properties for many fold than the actual value.So avoid such investments again.

STOP buying any new houses flats or land at least for an year if you are a IT Professional.Also control your shopping habits.

3.Control Your Traveling Expenses

control your petrol expenses and you can save more by car pooling or by using public transportation systems like KSRTC Bus or Technopark Express. if you are couples you can think about a two wheeler instead of the car.so that you can save petrol. and if you are in bike think about buying a bicycle. That is Eco friendly as well as good for your health ( but consider this only if you are living nearby )

4.Sharpen Your Skills and acquire new skills

Recession is worst and nobody like it. But sometimes companies will be forced to cut down the workforce. so sharpen your skills and be ready for an interview at any time. take this time to look in to the emerging and demanding technologies in the industry. technoparktoday.com is also helping people to get a job in Technopark. send your resume to [email protected]

5.Avoid Weekend Parties and Make It As a Month End Party

Most of the IT guys are partying every weekend. so you can think about stopping that make it as a Month end party.also rethink about the expenses in booze cigarettes chicken and chicks.

6.Stop Taking loans especially from Private Banks

Stop taking loans especially from private banks. nobody can predict the economy or the stability of your job. why should you make a situation for a bank to negotiate in your owned properties?

7.Take a break from risky businesses like share market

Share market is risky, so avoid high risk investments.you may get a fortune sometimes, but economy is going to hit hard,so wait for a while and study the trends before risking your money.

8.Use credit cards wisely

Credit cards are the enemy for IT professionals. that allows you to spend with out worries but you have to pay for your laziness and ignorance in credit card rules and tactics of card companies. so reduce the credit card usage and pay currency.

9.Cut down your mobile bills

You can save your money by cutting down your mobile phone bills. we conducted a survey in Technopark and found that 80% of the people are using high end mobile phones and most of them are changing that frequently. But this craze is among guys. so at least in this recession time never go after the fancy mobiles. how many of them are using the features of your mobiles other than just calling and sending a few messages? all the crazes about the advanced features like megapixel camera and GPS functionality will be subsided with in a few days after your purchase. so think twice when you are planning for a new mobile.

Also you can save a lot of money in mobile bills. call whenever that’s necessary, in our survey we found that an average mobile phone bill of a IT professional is around INR 2,000. we found people who is paying more than INR 10,000 in a single month in some companies in Technopark. more interestingly many of them are girls. so if you can control your mobile bills in this recession. you can save more. REMEMBER.. mobile companies are charging many fold during special occasions and celebrations. most of us are not aware about that and we used to call all of our friends, so this would boost up your bills. also please take care about the mistakes and errors in your bills. you have to take extra care about each and every penny you are spending during recession time.

10.Don’t Be Lazy, Work Hard.

In this recession you should work hard. give up all of your laziness and work hard to get more revenue and support your company to get more business and more revenue. incidents like Satyam burst is another challenge because the market has got so many talented and experienced professionals. So companies will get more resources which may more experienced and expert in various domains. so companies will kick out the less performers.

NOTE : We will update this article with more useful tips. please contribute your tips and articles to TechnoparkToday ( mail to [email protected])