There is a lot of chaos in the labor market. What’s your take on this?
Chaos is only 6 percent of the labour market. The organized sector in India accounts for only 6 percent, so 94 percent of India is not seeing any of this.
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| Manish Sabharwal Co-founder and Chairman TeamLease Services |
Do you think companies are overreacting to the slowdown?
Absolutely. They are not sure so they are being extra-cautious. Anorexia makes you thinner, it doesn’t make you healthier. Some of them are overreacting and they will soon realize it.
How is TeamLease dealing with the slowdown?
We have had some performance-related adjustments. The slowdown has impacted us, but it is also an opportunity to build a great company. For years, good and bad have been treated equally. Now people are realizing the importance of a true service.
What is your view on the effect of the slowdown on entrepreneurship?
This current slowdown is a great opportunity to make entrepreneurial moves that you could never make before. The kind of opportunities you see in a low tide you don’t see them otherwise. This is the time to be making prototypes, to be finding team members, to be making calls to customers. This is a unique opportunity. In the past five years the game was loaded in favor of bigger companies, bigger people, and those with big money. In this downturn everybody is equal. What matters is guts.
This interview was done on the sidelines of TiE summit 2008, Bengaluru
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written by Amlan Chatterjee, July 03, 2009
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