In the face of potential lay offs and with several companies shutting shop, it’s hard not to feel the recession jitters. Hence experts suggest that now is the time to think harder on devising techniques to recession proof your job.
Experts suggest that recession proofing is about gaining a variety of experiences which will enable you to be relevant in turbulent times. Understanding the key priority areas for your business, and focusing on gaining experiences in those areas, is the key. Executive director, HR, Diageo India, who believes strongly in the above says that the best way to do so is by leveraging your strengths and focusing on excelling in areas which you are good at. This will enable you to work at top performance levels and ensure that you remain relevant. There are many recessions, according top CEO, Global Talent Track the real one which implies decline of GDP and then there is what India is currently undergoing, a recession of sentiment. The need for relevant skills to boost one’s career opportunities enables the fight to be won against both real and perceived recessions. Recession proofing means giving resume a true edge by acquiring skills that will always be in demand. It will ensure that the skills acquired by it in technical areas or business and marketing or even team leadership are seen to be truly mission critical for any organization. Every person who aspires to be successful must demonstrate that their skills will help the company through good and bad times.
HR experts say that the recession is only a temporary tide. Recession proofing will help companies focus on nurturing and growing talent, resource optimization and enhancing quality and productivity. Employees would benefit by focusing on producing good work and multi-disciplinary skills, so as to make him/her stand above the rest, during such times. But there are things one should avoid at the workplace that might hinder the recession proofing process. They are: (1) don’t be fearful about losing your job, (2) don’t spread uncertainty or fuel rumors, (3) don’t be a job hopper and (4) don’t downplay/pull down your colleagues.
An employee can be called recession proof when the value of his/her current contribution does not dwindle and he/she is also seen as a potential contributor under tough circumstances. Being realistic in your expectations from the organization in terms of monetary and other benefits is vital. Employees must be encouraged not to resort to negativity. That is the first thing that hits everyone. If you manage to stay out of it, that will solve a lot of issues. Also, do not stop communicating; silence and ambiguity can be killing; talk to people, gather information, process them objectively and act positively.
Howe Jobseekers can recession proof their careers
1. Re-skill: Learn new skills for areas where there are still shortages and vacancies
2. Equip yourself with transferable skills: Clearly identify what these are so that you can demonstrate your adaptability particularly relevant if considering a move between public and private sectors.
3. Prepare effective resumes: Ensure they are carefully tailored for each role and targeted towards the competencies. Be flexible: Be prepared to accept a lower salary; a change in location or a wider job remit
How existing employee can recession proof their careers:
1. Up-skill: Use all available resources (formal and informal training) to make sure that you have the necessary skills to excel in your job.
2. Upgrade: This is possible if you initiate discussions with your line manager and discuss career development opportunities.
3. Network: Use every opportunity to make contacts and learn about new opportunities.
4. Be proactive: Examine ways in which you can take on extra responsibility and delve into other areas of the business.