THE GREAT HR RECESSION
The IT honeymoon is about to end. In 2000-02 the dot-com bubble collapsed & in 2008 subprime mortgage crisis signalled global recession. These recessions of the recent past had their impacts primarily financial & some quantum of professionals losing their jobs. The changes being brought forth in the Trump era coupled with cutting edge exponential technology portends a recession of a different kind. Vast majority of the low end Human Resources losing their jobs while the economy would continue to boom in US & other market leaders.
The Indian IT companies we presumed were at par with the leading IT gaints. This was not the case. The R & D being conducted by world’s leading IT companies had started yielding results a couple of years back & now we at the cusp of an exponential change in the core of IT functioning globally. Automation has gained a new meaning. The current trend of automation has potential to considerably remove humans out of the workforce.
Thought it was in the making yet the Indian IT industry maintained its own euphoria through ringing cash registers. This was just pushing the imminent. The famed benches of the IT companies seems to have become a relic & is hitting the regular workforce, the trends are conspicuous.
This is what can called as The Great HR Recession. The techie as we understood handling odd manual computer jobs is on the verge of extinction. This is a global trend. As we specialized in this nature of jobs, the hit presumably would be the maximum at our end.
Sensors / robots & processing mechanisms, with self generating data & smart decision making & guidance mechanisms will become the order of the day. It’s already in large number areas at differential levels gaining further ground heralding a big HR recession. The era of Artificial Intelligence has already been ushered, it will define our existence in the days to come.
TRUE AUTOMATION WOULD LEAD TO BIG TIME HR RECESSION.