You know I had a wild nightmare last night… gave me the chills Jaleel
What was it this time??
Don't mock my nightmares!
Alright, alright.. tell me please Shambhavi
That is better.. I dreamt that I was fired!
Why would you dream that!
It is appraisal season and this time of the year always stresses me out.. haven't you noticed the number of times I have binged on donuts and brownies in the past two weeks
You know you might be on to something by the way..
What… what do you know Jaleel.. am I getting fired!?
Nooo you silly goose! According to a report by the Centre for Monitoring Indian Economy, the unemployment rate rose to 7.2% in February this year.. the worst in 28 months!
Oh wow! I think this exact statistic would have crept into my nightmare too…
Hello everyone, I am Tania Kishore Jaleel and I am Shambhavi Mehrotra. In this week's ET Wealth Wisdom podcast we will discuss with you the signs you need to look for to know if your job is safe. In other words, those that will tell you that you may be on the verge of getting fired.
This such a dour topic.. but here we go…
You've got poor appraisal & increment
Have your appraisals been consistently bad for two-three years now and were your increments terrible too? This is a red flag that is hard to miss and one of the clearest indicators of what's in store.
Mind you, low increments should not be seen in isolation. It could be that pay hikes have been terrible all across the company because of the company's underperformance or cost-cutting measures. Or maybe the industry as such is not doing well.
Buuuutt… if you receive a low increment and the company and the sector are doing well, you clearly are not. And if your company ever considers downsizing, you may be among the first few to be fired.
You are losing plum projects and are out of the loop almost always
Are important assignments that you handled earlier being passed on to juniors or other co-workers? Are you being left out of meetings? These are signs that your bosses no longer think too highly of you.
Here is why something like this could happen. One big, big reason is competition. Insecurity or rivalry could see your immediate boss or a team member taking credit for your inputs or creating an impression that you are not contributing as well to the organisation as you actually are. Another reason could be that you have said or done something that has not gone down well with your boss or some of your actions or words have been misunderstood or misinterpreted.
You are not learning new skills, stagnating at work
You should start to feel concerned if you have been doing the same, old things at work for more than a couple of years.
If you are not innovating, improvising and outperforming to contribute to the company's profits or visibility, you are likely to be branded a non-performer eventually. This could translate to an early exit if the company considers slashing jobs.
What you can do is talk to your boss and ask for a redefinition of your work profile. You could also shift laterally in the organisation to fit into a role that suits your skills or will teach you additional ones. Make sure you continuously upgrade and upskill yourself through specialised training courses.
Relationship with boss or colleagues is deteriorating
Has your boss started ignoring your suggestions and mails, or is criticising your work? Are you having verbal spats with him in front of colleagues? If the disagreement is healthy and the criticism constructive, ignore it. But if the problem is deeper, spawning from personal or professional reasons, you will either have to find a way to bring the relationship on an even keel, or quit.
Having frequent disagreements with your co-workers can also work against you. Bosses don't want the team spirit and morale to suffer, so unpopular people are fired first. Nobody likes a fighter cock, least of all your boss.
Your firm is cutting costs or has imposed a hiring freeze
Your job could be in danger not for any fault of yours, but simply because the industry or your company is going through a bad phase. In such a case, it could impose temporary cost-cutting measures in the form of withdrawal of perks or a hiring freeze. If things become worse, the firm may even consider letting go of its employees.
You could also lose your job if the company undergoes a change in business strategy, or if it witnesses a merger and reorganisation. Another indicator is the loss of senior-most employees or star performers. A new boss could result in sifting and firings.
So finally, now you'd know if your nightmare will come true or not ha Mehrotra
And dear listeners, if any of these signs are bothering you, you know you're in a soup!
And BTW, you're welcome
That'll be all from us, till we meet again next week. Log on to ET Wealth.co for quick tips on personal finance and do follow us on Twitter & Facebook.