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Job loss is one of the most difficult work-related situations that a company and an individual may encounter in the present scenario. Yet, sometimes job loss may also turn into a blessing in disguise. Combining the career literature with the literature on unemployment, the current paper addresses potential positive outcomes of job loss by
focusing on specific career adaptability activities that individuals can undertake to obtain these outcomes.

Live Case

Infosys is planning to hire 25,000 people this year. That is almost 500 a week or 100 a day for each working day of the week or about 12 every working hour of the day or about 1 every 5 minutes!

This rampant hiring raises several issues. By announcing that Infosys will hire 25000 engineers this year, they might have satisfied their shareholders. But what message they are sending across to existing and prospective employees? That Infosys is no longer an exclusive club? Can their big bosses anymore claim with any credibility that they hire only the best? However big the candidate pool may be, you cannot find 25000 "best" engineers in a year. The reason why big companies can get away with not-so-top-notch talent is because their processes are so well-defined that software development almost mirrors an assembly line. The creativity of the individual hardly seems to come into play.

Last year, attrition rate in Patni Computers was 26%, more than double the industry average of 11%, and the management is not recruiting any Tom, Dick and Harry. Non-performers were asked to leave, and management has decided to revise upwards (in some cases up to 50%) the salaries of their best brains. Profit guidance for the year 2007 has been brought down, which is not good news for investors. The reason given is higher salaries. Now this system is in contrast to Infosys and Wipro.

Is it a Blessing in Disguise?

People say attrition is the big bane of the industry. I think it is a blessing in disguise.

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* Gaurav Goel is a student of Masters in Human Resources & Organisational Development (MHROD) at Delhi School of Economics, Delhi University.