Steps To Help You Recession-Proof Your Career

 

One of the best times to recession-proof your career is way before the economy crashes. This is because a recession is an economic indicator of significant job losses.

Before a recession occurs, you should have measures in place to help you protect your career and even ensure your career keeps moving forward. While it is impossible to predict when the next economic recession will occur, here are a few steps to help you recession-proof your career.

Volunteer to take on new projects and solve problems

There are plenty of situations where an employee was laid off even after many years of work with the same organization. While you cannot stop this from happening, you can decrease the chances of it happening to you. One of the best ways to do this is by volunteering and taking on new projects at work.

By solving problems willingly within the organization, your skills will be more likely to be appreciated and noted. Sitting back for 20 years and performing the same tasks at the same skill level will only get you left behind. Instead, volunteer for new tasks, initiatives, and projects.

You can also decide to stretch yourself and take on new challenges by looking for opportunities to innovate. You can do this by helping a department that is struggling or producing a framework with a workable model for a new business idea to pull through the recession.

Develop your skill set

Another way to recession-proof your career is by developing your skills to more relevant skills needed within the organization. This sets you apart from your colleagues when your organization is evaluating for who to lay off during the recession.

Thankfully there are several soft and hard skills readily available for anyone who wants to learn. However, you should first understand the current skills you have and how developing them adds value to your organization, especially during a recession.

To achieve this, you can study news articles relevant to your organization, subscribe to newsletters within the industry, or enroll in different fields of study. You can also decide to focus on developing skills related to organizations that tend to still experience massive growth during a period of recession.

Network and build relationships

Another key way to recession-proof your career is by building a network. Since building a career is not something you can entirely achieve on your own, we recommend that you create new networks and build relationships with the ones you have.

To do this, you can start by creating an online profile that sets you apart from others so people can know who you are. You can also join different associations, and workshops, participate in discussions and do other speaking engagements that will make you visible to others.

Ensure that your network extends beyond your workplace or regular association as this will help you broaden your horizon in case you want to search for a new job. Remember that networking is not one-sided so find out how you can help others and build a mutually beneficial relationship.

Encourage your leaders

No one employs staff within their organization with the hope to lay them off someday. This should show you that economic recessions are also tough moments for leaders.

So instead of looking for how to push for a job promotion or title during this period, encourage your leader by defending your department. As CEOs and other company leaders work on new structures and plans, be open to seeing them succeed.

You can do this by offering realistic solutions, providing your ideas, and even selling these plans to other colleagues. The truth, however, is that the stronger your relationship with your manager is, the less likely you are to be cut off.

Identify your strength and the best way to utilize them at work

If you are working in an organization that is intended to progress, you should adopt a similar vision and put in your best at work. One of the best ways to start is by identifying your areas of interest in which you can perform well.

This is to ensure that you are not left behind as your organization makes efforts to survive the recession. Identify areas the company will need your services and develop a plan for how to contribute and start working towards it. This way, even if the need arises for a layoff, your services won't be dormant, and you will be less likely to be affected.

Pay attention to current trends in the industry

By focusing on current trends within your industry, you can harness information to utilize to position yourself for greater success and security in your job. Although being an active leader in any industry can help you grow and secure your career, paying attention to trends in the industry will help you stay informed and prepared.

This process gives you an insight into how other sectors are faring so that you can be one step ahead of problems and ready for any necessary changes to best position yourself and your company for success.

Diversify your streams of revenue

Another way to protect your career during an economic recession is by having different streams of income. You cannot precisely tell when an economic recession is about to occur so relying on one income stream is not the best strategy for preventing a crisis.

With the availability of remote and freelancing jobs today, you can set different skills to help you diversify your streams of revenue and minimize risk. This means that if one stream shuts down, you have something to fall back on while working towards getting a replacement. You can also look out for organizations that offer multiple projects so you can have a comfortable work environment at a minimal risk level.

Do not ignore the signs and news flash

A recession can occur anytime but, there are many times warnings beforehand telling companies to prepare for tough times. While some businesses pay attention to this and start taking action, others ignore these flashes. Ignoring the signs will only catch you off guard with no means of protecting your career.

Conclusion

No one wants to be left without a backup plan when a recession occurs. With careful planning, you can build a more successful career and protect your existing career whenever an economic recession does occur. Get started now with the above-mentioned steps.

For one-on-one support devising your action plan and getting prepared, consider our Career Coaching services. To learn more visit our website: VanderYacht Consulting

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