The current Satyam fiasco has definitely a lots to teach working class of people called “Employees”. In this article, i would describe four such key lessons.
These lessons are derived from my observations and opinions of the current Satyam Fiasco and its aftermaths on Employees.
1.) ESOPs are not always great: Whenever you shift a job or move to a new company, you might be offered a lot of stocks. These stock option plans though initially sound good, but can certainly disappear in such situations as with Satyam shares. In my opinion don’t settle for a bargain in your salary against a ESOP plan. Real cash is always real. Another rule, dont buy too many shares of your employer. In situations when your company is caught commiting a fraud, you wont only risk your job, but also your savings.
2.) Do you regularly work towards updating your resume? : Even if you are not looking out for a change, working on your resume on a regular basis keeps you focussed about your goals. Building your resume is like walking through the learning and work done at your current employer. If you dont have anything new to add in your resume ( in terms of learning) for a constant 6 months period, its time you start looking out.
Keeping a resume handy also can help you grab an opportunity faster. As they says ” Love your job but never love your company, you never know when your company stops loving you”.
3.) Grow your Professional Network : Humans belong to category called as ” Social Animals”, therefore, if you are currently not social enough, its time you start working on it. Attend as many social events as possible ( ensure you go there to get a value add), meet and network with influential people in your area. If you are interested in Entrepreneurship, attend events like Open Coffee Club , Startup Saturday etc. If you haven’t yet, Join LinkedIn and connect with other professionals in your area of interest.
4.) In the age of recession, cash flow positive wins: This rule applies to all from startups to big companies to even individuals. If you happen to be investing only in stocks and mutual funds, this is the time to learn; do keep a particular percentage of cash in bank. This cash should help you get the liquidity if such a situation comes. Ideally this liquidity should be around 5-6 months of your take home salary. You never know when you might need it.
5.) ALWAYS Do your own research : Often during turbulent times, companies facing rough water can come up with great internal news to keep the employee confidence and morale intact. Its always in your interest to go validate the internals against the market sentiment. Always ensure that you have done your due-diligence before you believe in any internal news.
In life, you might not face all the situations but its always advisable and worthy learn from others mistakes. As a philosophy, always expect the best, but be prepared for the worst.
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