Practice Pay-It-Forward Networking
- Networking while the job market is unwavering may seem like a waste of your time, especially when you’re already overworked. However, w However, this is a great time to reach out to your connections to catch up and learn how you can help them. Can you introduce a recently laid-off contact to your current or previous manager? Can you refer them to an industry Recruiter you highly respect? Authentic help and advice in today’s hyper-rushed, overworked business culture is becoming increasingly rare. Finding out how you can help others professionally will leave a refreshing and memorable impression.
Build Up Your Professional Equity
- Few qualities will thwart a layoff notice like being irreplaceable. Build up your professional equity by volunteering for special projects, meeting tight deadlines or suggesting money-saving process improvements. Is your company planning a software or system upgrade and need extra help on a project? Don’t wait to be asked to help, instead ask your manager what needs to be done to make the roll out a success. Is there a business process you feel can be improved to save the company on the bottom line? Do your well thought out research and offer your findings to management for review. These extra 10% actions will be remembered when the company is in budget-cutting mode.
Diversify Your Skills Portfolio
- Is there a skills gap in your organization that you’d be excited to learn? Perhaps it’s a needed programming language or advance Excel or Access skills that would benefit the organization? Companies a more willing than ever to train someone who has a strong interest in learning new business tools. Learning these skills will not only help cement your place in the organization, but it will also make you more marketable to a future organization.
Start Reducing Personal Spend
- During good economic years, it can be tempting to splurge on personal items and trips, especially since you lived on a minimal salary during the Great Recession years. Although difficult, resist this urge and prepare for the next recession ahead. Adding a minimum six-month salary to your savings account will give you the liberty to make a better choice with your next position versus taking your first job offer. Even after a layoff, you can make a more strategic decision about your next career opportunity.
We hope this checklist helps to answer how to prepare for the next recession and provide valuable tips to maintain job security in the coming years.