Mid-level managers across India Inc are struggling to deal with the prolonged economic slump, Economic Times reported. Having sprinted up the ranks when the going was good, they are now feeling `trapped' in existing roles in an economy with few salary hikes, rare promotions, limited lateral openings and growing spectre of job losses.
"This is the first serious slowdown that this generation has had to survive," says VenkatSastry, a partner with global HR consultant Heidrick and Struggles, referring to middle managers in mid to late thirties. While there was a rough patch they had to negotiate at the turn of the millennium, it pales with the severity and length of the current slump. It's not a happy feeling...it's almost as if they have sprinted into a cage.
Read the full report here