There was a time when the dreaded C stood for Cancer. But now, C has been taken over by the equally (or more) dreaded Coronavirus. Not only does the virus instill in us the fear of mortality, but it has also economically impacted our lives greatly. Since the pandemic made its grim entry in our lives in March, 12.2 crore Indians have lost their jobs. Many have folded up their businesses.
The consequences have affected our day-to-day existence in multiple ways and will continue to do so. However, the core issue for a working professional or businessman is realigning
their work-related lifestyle and regaining a sense of self. These professionals have not just lost
their jobs or businesses, but their professional identities too.
"This pandemic will change the way we work at a job or a business, but it will not disappear forever. The jobs will revive in time in new avatars like work from home or business going digital. So, we need to reskill and calibrate ourselves to this change. Hence, our ambition does not need to change or disappear. We need to be patient till we can cope with the changes in our job or businesses, which will eventually help us achieve our ambition," asserts Rohan Shah, co-founder and CEO at a content creation company.
Seeking new paths
That is what Bangalore-based Seema Jaising, founder of a luxury travel boutique, has set out to achieve. She laments the loss of a successful business, which was booming in the past three years. "My business revenue, like most others in my space, has virtually stopped since March 2020 and until the cases of Covid reduce, we will see very little client movement," says Seema, who has now re-invented herself as a pastry chef, whipping up cakes, cookies and desserts; a passion that dates back to her days as a dental student. "I spent the first and second lockdown in April and May doing online courses in vegan and gluten-free baking and specialise in sugarless, keto, gluten-free and lactose-free cakes," adds the lady who is a qualified dentist too.
Clearly, ambition has not taken a backseat, but has found a way to reorient itself with new skills that have kept many pro-active people busy. "You have to get up and dust yourself.
You have to look and find new goals to focus on," reveals Mumbai-based chartered accountant Murtaza Bandukwala, who ventured into the boutique business a few years back. "Due to Covid, we were shut for about three months. Currently, in Mumbai, we have restricted operating hours coupled with low footfalls," he adds.
The economy has obviously been impacted with several laid off and others asked to go on long leaves. With jobs being rapidly lost, businesses heavily affected and more unemployed people in the market than ever before, the insecurities have multiplied and a fear psychosis over an uncertain future has taken over. Debjani Karthik, Senior Director, Strategic Alliances, at a Bengaluru-based firm analyses that economic implications apart, many professionals end up wrongly attributing this to personal reasons and that leads to a direct impact on self-esteem. "This is true for many of us who end up wrongly identifying ourselves with our jobs/ ventures we work for or set up. Along with that comes the social stigma of being given the pink slip and the subsequent unemployment. That impacts ambitions and confidence and definitely hinders the process of looking for a new job," she says.
Coping with job loss
Dr Satish Kumar, consultant clinical psychologist at a leading hospital in Bengaluru, concurs with Debjani, adding, "Yes definitely it leads to low self-esteem along with uncertainty and fear of apprehension about the future. Positive self-talk such as 'I am not alone', 'what is happening to me is happening to more than 50 per cent of working professionals around the world' etc., helps. Such talk aims at improving self-esteem, self-efficacy and helps develop resilience."
Resilience is the key word. It teaches you the art of survival and the ability to perhaps downsize those lofty ambitions and strategise a more pragmatic professional survival plan. Rohan believes that people don't need to downsize their aspirations. "We need to delay them and make them more realistic. Losing a job or closure of business is painful for those dealing with the situation. But, humans perform the best when they face challenges and pressure. In such a situation, people tend to reinvent themselves and innovate. This crude process of transformation helps us discover our best versions," he adds.
Looking ahead
Debjani points out that a re-alignment of goals and aspirations is needed, depending on the road ahead. "If they see chances of a revival and wish to continue in the same industry, they should focus on upskilling themselves during the interim period. But, if they are seeking a new career path/industry, it requires a more focused approach and planning — which is the right industry, what skillsets are needed and how do they acquire it? While searching for a new job to support in the interim, people need to spend some time thinking about the future,"
she advises.
Being optimistic about the future is vital, but work terminations during this pandemic have also thrown up the question of financial survival as job losses lead to a loss in monthly
income. "There has been a drop in income since Covid, but I had a financial backup plan, which is pulling me through this uncertain time. I have become more careful with spending now and I anyway was never a big spender earlier either. I used to spend most of my money on experiences and travel and since both have stopped since March, that is not a concern at the moment," confesses Seema, who is happy to have found a solid support system amongst her family and circle of friends.
There are advantages of staying indoors as people are turning inwards and seeking support from their core group, essentially comprising loved ones. In Murtaza's case, he is grateful that he has a family, "with whom you can discuss and explain the current financial situation and take a joint decision. There is a drop in income from the business, but I have always been prudent and have been wise enough to not put all my eggs in one basket. So, with some property and other investments, I have been able to manage the loss of income from one source," he expresses.
Lessons imbibed
The world right now appears shaky, at least until a vaccine is discovered and life returns to some semblance of normalcy. But, while that seems like a distant plan, it is optimism mingled with practicality that will keep the professional afloat. "Covid has taught me to never make a yearly business plan, but plan only for every quarter, as life is very uncertain. Personally, it has made me be grateful for the people in my life who are my strength in whatever situation I am in," says Seema.
Murtaza's mantra is to never take life for granted. "It is important to always keep your ears to the ground and be ready for any eventuality. The way forward would be to reinvent myself and look at different business plans, and more importantly, this pandemic has taught me that there are other important aspects to life," he asserts.
The last word
Given the staggering number of jobs lost in India, how do you leverage opportunities in these challenging times? People are probably applying in hundreds for one single job opening. So, how can an out-of-work professional stand out and make an impact?
Rohan has the answer. "The digital revolution has opened up opportunities we never had before. So, research what the future possibilities will look like and prepare yourself; the 'right moment' will not wait for us to be prepared. If we don't take it, someone else will. Covid has shown us that we need to focus on upgrading our life skills. We need to learn mindfulness, parenting, relationship management, mental health management and better our productivity. The quality of our life does not depend on career alone. If you are suffering in other areas of life, it will, in time, affect your career. In this pandemic, reinvent and upgrade yourself in all areas of life so that you end your struggles and thrive, he sums up.