Enrolling for PGDM course during the pandemic

Covid 19 and its impact on world economy

The current gloomy situation throughout the world due to the effects of Covid-19 has given rise to a number of questions about the uncertainty of the prevailing economic crisis and its repercussions. The predictions from IMF are very clear, that the economic recession due to the pandemic situation can have worse effects than the recession of 2009. The crisis due to pandemic has blocked almost all the projects, due to economic situations across the world. Many global MNCs are facing severe economic crisis and are struggling to survive in this challenging situation.

It is a bitter truth that this economic crisis will stay for a few months and needs some time to rebound back to normal. The economies will definitely be stable after a few months post the pandemic ends and it is also true that the current scenario continues to persist for some more time. We are bound to face these challenging times in our lives for at least some more days to come. All the strong economies of the world have to go through this turbulence unless a vaccine or medicine is developed that can stop the spread of coronavirus.

The situation is quite different in countries like India, when compared to other European countries. The recession may not have a deeper impact, due to our present economic condition but side effects are definitely felt. There are many economic policies in place to resist the impacts of recession to some extent. But we cannot deny the fact that our economy will take a hit due to global recession.

Is it advisable to do a PGDM during this situation?

The answer is Yes, the PGDM degree can act as a saviour and help many of them to look for better opportunities. It's unfortunate that many people lost their jobs due to mass layoffs and many have experienced salary-cuts in this situation. The reason behind this is the lack of need and skills, the companies hired many of them based on project requirements. But the projects were stopped abruptly due to the crisis and funds were blocked by companies and all the projects came to a standstill.

PGDM opens the gateway towards newer opportunities that otherwise would either have come with much more time and experience. PGDM is a holistic learning experience that offers multiple things at a given point of time. The PGDM professionals are valued for their skills and companies always prefer to retain them with priority.

The current situation can be effectively used to take up a PGDM course and look for better opportunities. Many global economic surveys have proved that the recession will continue for at least 15 to 24 months to reach economic stability across the globe. The time is best suited for many of us to enrol for a PGDM course by investing in ourselves.

Typically, a PGDM course is a 1 to 2 years programme which completely varies from colleges , that can be easily completed in this recession period. By the time recession ends we will be having a PGDM degree in hand that enables us to look for better options. As soon as the companies recover from economic instability, it’s a common practice that almost all of them will focus on new strategies and look towards future goals and ventures. In due course of time, the companies may change the hiring policies and may come up with new standards and cost cutting measures for recruiting. In such a scenario the PGDM degree comes handy and PGDM professionals can expect an easy hire at various managerial positions. As the companies shift their focus, they will be in need of skilled PGDM professionals who can help them to achieve their goals and assist them to take up future ventures.

In such a scenario a PGDM degree provides value addition to the skilled professionals and they can expect better job positions that provide an excellent career growth pathway. So, it is advised to join a PGDM course during this turbulent time.

Benefits of Pursuing a PGDM programme

Almost all companies are working from home now and once they restart their offices post pandemic days; they may not be in a position to hire new recruits, due to their economic instability. So, hiring rates drastically decrease in the job markets because the organisations may not be in a position to invest money and time for taking up recruitment procedures. Unless there is a crucial necessity, the companies may not venture to hire new recruits at least for some time. Along with this, the professionals who are expecting salary hikes have to wait for quite some time to get their bonuses due to global economic scenarios. Even in the post pandemic situation, the organizations may not be able to announce salary hikes for its employees due to their economic constraints.

A PGDM qualification can be a trump card for the existing employees, irrespective of the organisations. The professionals with a PGDM have an option to shift their profiles towards business development roles in their existing organisations itself. The organisations will be ready to offer them managerial positions with better pay scales. It will be a win-win situation for both the organisations and its employees. This is because the organisations may not require to invest extra time and money for hiring procedures, as the job role shifting within the organisation is an internal affair that requires no investment but just a paper work.

The students can use this testing time to pursue a PGDM programme and can look for better opportunities after the completion of their degree. Let me explain this in detail, this year 2020, if one joins for a PGDM programme, by 2022 he/she will come out as a PGDM professional. By the time they graduate from their colleges, the companies eventually will be out of their economic instability and will be looking for fresh PGDM graduates those having calibre and knowledge to boost the companies changed strategies and goals. The opportunities will be far better in the year 2022 for PGDM graduates.

Modes of Pursuing PGDM programmes

Now, everyone will have questions about how to pursue a PGDM programme in the new normal. Once the restrictions are lifted all the educational institutes will start taking admissions for PGDM programmes. The fresh graduates or new joiners can enroll themselves to various B- schools or colleges for their desired PGDM specialisations.

For those who are worried about fees, they can avail educational loans with lesser interest rates and better repayment offers. Even banks and financial institutes in the new normal have been flexible to give educational loans with long term repayment plans. Many measures and exemptions are given by the government to various banks and financial institutions to promote educational loans. The interested candidates can take educational loans and choose a longer time for repayments and can join the PGDM course.

The professionals who are looking for a profile change can enroll in an online PGDM course. Many global top-notch institutes are offering online PGDM courses for candidates due to the present scenario. There is hardly any difference between a regular PGDM course or an online PGDM course, it completely depends upon individual interests.

In the new normal the online PGDM course will be given equal values and importance by almost all the organisations. The organisations basically look for knowledge and skills in PGDM students rather than their mode of study; either it may be regular mode or online mode it doesn’t matter in new normal, as both are of equal importance in today’s job markets.

Final Words

It is a hard fact that we have to survive this pandemic situation caused due to Covid-19. But we certainly have an option to face the days with positivity. The present situation should be considered as an opportunity to introspect ourselves and we should try to enrich our skills and knowledge.

Time is ripe to enrich our skills and knowledge and by utilizing this kind of situation we should focus on our growth and try to reach our goals in the post pandemic situation. We should look for better opportunities to invest in ourselves and shift the focus towards achieving our goals.