Wednesday, April 1, 2009

The Freshers' Future

Posting in a long while.  Sincere apologies and a promise to post every fortnight. 

Last week while at college I was asked what was the scene like in LPOs.  Well, cost cutting seems to be the name of the game these days.  Rightly so.  Whether you are, or are not affected by the recession, or the situation in the US, this is not a time to be insular.  It is rather a time to work together to overcome the financial crisis.

The future of legal outsourcing has been discussed threadbare.  Everyone seems to agree that it is going to go places despite the recession in the US.  Personally I feel that this may not be so in the very near future at least. 

But the bottom line in business is profits and while a firm could decide NOT to offshore work where the anticipated profits are small and thus be seen to be patriotic, where larger profits are involved, the work will be offshored, immaterial of considerations of political correctness. 

The affect this side of the pond will be that small projects may not be offshored but the bigger ones certainly will.  Similarly the smaller legal firms abroad would decide to offshore work simply because they cannot afford not to.  They need to make profits in order to survive.

It is very true that the most affected by the state of the economy, are freshers.  Every company even those with bigger projects on hand, is preferring to recruit on a temporary basis and not face the hassle of handing out yearly packages.  Go with the flow.  Take what comes and be sure to keep note of where you worked and what you worked on.  Some day soon, all this work experience on your resume is going to look good.

Another concern expressed was that of US and UK lawyers being employed in Indian LPOs.  I really do not think the figures would be significant enough to affect the professional prospects of Indian lawyers.  However, even if they are, I think if you are going to go global, you have to be ready to face the competition. 

I repeat and repeat, polish your language and communication skills.  This is your Achilles heel. 

Next week’s post:  On Resumes and References.


1 comment:

Indian Education Blog said...

This is an interesting article. Recession has hit everywhere including LPO.