Recession - Effects on Your Career and How to Minimize them

 

Recession effects can be devastating for ordinary people. Not only does the cost of living go up, but so does unemployment. If you are unfortunate enough to lose your job during a recession, you will have more difficulty than usual finding another one. Added to which, you'll face bigger bills.

So, if the effect of recession can be so serious for governement, companies, society in general and the individual in particular, what can you do to minimize the effects of recession on your career?

First of all keep you knowledge and skills up to date. Whatever your profession, it's likely that the necessary skills and knowledge will develop over time. So make sure you don't get left behind.

But don't just keep up to date, become an expert. It's pretty much impossible to know everything there is to know about everything, but you can become an expert in one area. Just make sure it's an area which is in demand.

If you can't do this - perhaps it involves expensive training, which you can't afford and would take years - think about what you would do if you were to lose your job.

Not something most people want to have to think about, but job cuts are one of the things which happen in a recession.

So, if you lost your job, what could you do? Look at more general skills which are in demand - which ones could you use to get yourself a job?


IT skills are in demand and this is an area in which you could choose to excel. Start by looking at the IT skills most in demand not only in your industry, but also in other fields. What is your current level of expertize and how could you increase it? The goal here is to make yourself an attractive proposition for employers.

Are there any other career areas in which your existing skills are needed, particularly if you work to take them to the next level?

In a recession, there will be job losses in many areas, but there will be gains in others. Think about things which are in demand when there is a recession - information on saving money or how to get a job, for example.

These two are good if you want to work online. Sit down and really think about it. Ask yourself - where will the gains be in a recession and how can I contribute my skills and knowledge?