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| Recession is good for us! |
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| Posted By purba on Mon Dec 29, 2008 8:47 PM in the Blog Category Career Development
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Okay, we’ve been hearing an endless lot about how recession is going to do this and wreck that! There’s been cost cutting here, layoffs there and a general feeling of impending doom. We cannot stop this change, but we can try to find whatever positives we can in this scenario. So here goes! Can you believe that the recession is actually going to be GOOD for some people?Let’s look at the KPO industry for starters. For all you duds, that was not a wrong spelling! We’re talking about knowledge process outsourcing. This industry will see loads of work being channeled in as patent issues come up more frequently and laws become more stringent. With the onslaught of recession, companies in the developed world will be forced to cut costs. Enter the inexpensive, and more importantly, the knowledgeable Indian. We expect loads of work to be outsourced to India by American doctors, researchers and backend services like payroll and human resource management. But, nobody stands to gain more than the LPO industry.Without a doubt, the current boom is in the law process outsourcing industry. Indian firms are increasingly dealing with the huge paperwork that is required by firms abroad. The crisis on Wall Street was like a windfall to this nascent industry. Huge amounts of litigation work resulting from companies going bankrupt and having suits filed against them have brought this about. Also, the global recession is bringing with it mergers, acquisitions and lawsuits. This also necessitates all that paperwork.Another factor facilitating .... More
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