Effects And After Effects Of Recession –employee Benefits Alterations

Recession has been one of the most talked about subjects over the electronic media as well as the print media during the past few years. Questions on job security have been raised through verbal communication methods and how to get the job was the toughest question. What is recession? When will the recession end? How to secure the job? Those were the questions in the minds of majority of people.

Recession is a condition where the market doesn’t grow with the pace that it was growing at earlier. It is not exactly a state of economic decline but a condition where

the economy slows down for a definite period of time to an extent that the organizations stop the growth.

When recession was everywhere in news there was a wave of threat everywhere to secure the job. Even the organizations that were making profit felt the right time to make necessary changes to their policies and employee benefit schemes. This was the best time as no one would complain as there was every chance of him losing the job.

The company that Johnny was working in during

that time offered him upper class benefits during travel, reimbursement of phone bills to a defined limit, hotel expenses to a set limit and other benefits as a part of his salary package. As soon as there was recession the benefits were reduced to half of all that he was getting earlier.

The strange thing was that none of the employees could utter a word on why this was done to them. There was a message from the company CEO that such steps had to be taken in order to fight back recession. The employees were happy that at least they had jobs in hand. Facilities would be retrieved later.

The recession finished. The growth rate was the same as it was before recession. The facilities that the companies had taken from the employees were never returned back to them. Again, none could utter a word. Those who felt dissatisfied left the jobs and secured better positions at some other organizations.



Article Written By archit

I write because I like writing and hope that someone benefits from the things I have learned from my teachers and the learned people I have met so far. The purpose here is not to attract any requests for horoscope analysis but just to share the thoughts. Astrology and spiritual matters are my areas of interest.

Last updated on 23-07-2016 74 0

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