Five Ideas To Recession-Proof Your Career

Layoffs, hiring freezes, and rescinded job offers dominate the headlines, and you may ask yourself how to best plan for the uncertainty? A poll on LinkedIn revealed that 60% of respondents are worried or very worried about their careers because of the uncertainty of the economy.

Let’s not become one of the statistics and get caught off guard. Recession-proofing your career is about being proactive in uncertain times and taking control of your career and future. Rather than wait and see what happens, you can make things happen.

Here are five ideas to recession-proof your career: 

1. Career success inventory: When was the last time you took stock of what you have accomplished at work in the previous year or two? Get a pen and paper and write down what you’ve accomplished lately. Write down a list of duties, and then add how you’ve impacted the bottom line by performing those tasks? Here are a few questions to get the wheels spinning: What projects have you spearheaded, completed, and what were the results? How have you saved the company time or money? Did you make a system or process more efficient? Have you done any volunteer work and picked up new skills, or have you learned new skills on the job? Have you earned any new certifications? Now, update your resume and refresh your Linkedin with those accomplishments, and you’ll be ready to fire off your resume confidently; best of all, be prepared for interviews or even ask for a raise or a promotion.
2. Pay attention to industry news and hiring trends: Some industries are more at risk of layoffs and hiring freezes than others, especially in the tech world. So if you’ve been thinking of a change, now is a great time to be doing research. First, find out which companies and industries are thriving and hiring that could use your skillset. Then, start networking with people in those organizations and apply if you see an opportunity that catches your interest. Or, if you’ve been thinking about a career change, what are the best recession-proof jobs over the next ten years?
3. Keep your network warm: Networking isn’t just when you need a new job. Even if you feel “safe” and comfortable in your current role, you should still connect with the people in your network like previous bosses, co-workers, alumni, etc. It’s about consistency. Recession-proofing your career is being strategic with who you reach out to; if you see the writing on the wall, keep your ears open and reach out to other professionals working at thriving and growing companies. Make a date in your calendar to reach out to someone in your network each week. You don’t have to ask for something; you could simply send them something relevant to their role that they might find interesting as a way to keep in touch. Then, if something should happen, like losing your job, reaching out to your network won’t be so awkward or overwhelming.
4. Step up your game: become an invaluable part of your team. Would your team benefit if you learned a new skill? Can you share your ideas and perspectives? Is there room for being more proactive and anticipating the needs of others? Look out for opportunities to step up your game. Become the 'go-to person' for [fill in the blank] by regularly engaging with online learning courses, professional organizations, and events.
5. Start your side hustle: Do you have a dream to start your own business someday? Now might be a great time to launch your side hustle idea.  I’ve worked with a few clients who have started side hustles that turned into a full-time business or helped them land a full-time job in a new industry. Start by doing a skills audit. Which of your skills is lucrative and marketable? Do you love social media and creating fun graphics with Canva? Are you great at building audiences and engagement on social platforms? Are you a whiz at SEO? Do you know how to write effective resumes that land interviews? Do you have copywriting or blogging experience? Figure out what you have to offer and offer your services for a fee on Fiverr, TaskRabbit, or Upwork. It could be the start of building your empire!

While either in a recession or one is looming, it's vital to always invest in yourself and your growth. Be in the driver’s seat of your destiny. It's essential to be in action, be aware of the latest trends, upskill, and network. By the time it’s over, you may be in a new dream role, making more money, or having launched your own business!

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P.S. And, whenever you're ready... here are four ways we can help you get unstuck and grow your purpose-driven career: 

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