Don’t Be Caught Without A Plan! How To Prepare Your Career For A Recession

Whispers of a recession have been in the air for a few years, but those whispers have grown louder recently, with many economists highlighting various economic indicators that point toward a possible recession in the immediate future.


Recessions can affect everyone differently, but history suggests that they will Mass layoffs, fewer jobs, more competition for jobs and less job security.

Here’s what you need to know about a potential recession’s impact on your career:

Common situations people find themselves in during a recession

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As mentioned above, depression affects everyone differently. Any problem related to the economy affects consumers’ wallets in one way or the other, but when it affects your livelihood, things become more painful.

From a professional perspective, the most common situations people find themselves in during a recession are:

Feeling stuck in a job they hate – Perhaps you are looking to leave your current job and Make a career change, but the recession put the brakes on that. A person who is stuck in a job they hate is less productive and many times the dissatisfaction with their professional life seeps into their personal life.

Dismissal from employment – This is the most painful consequence of depression. It has a significant effect on a person psychologically. This forces them to pick themselves up and enter the competitive job market. And the awkward and unpleasant reality is that if you’re fired, you’d better join the company First round of eliminations. Those left behind in the second round of layoffs must enter a more competitive job market where their former colleagues already have a head start on them.

Forced to accept a job they don’t want – People have bills to pay, and it’s not uncommon for some to get so frustrated with the job search process that they end up settling for anything. Job offer They will get. It’s especially painful for anyone who’s been fired from a career they love. Moving from a career you love to a career you don’t like can make you a less productive worker and can have major emotional effects as well.

Struggling to find a job – This is the worst case scenario. Not only is the job market very competitive, but those who have lost their jobs are interviewing for new ones, which can sometimes be frustrating. A person gets more times Rejected from job, they become more depressed and it affects them more during job interviews. The unfortunate truth is that those who are laid off during a recession are at a disadvantage because recruiters are more likely to hire people who are already employed.

How to know if a recession is affecting your career

A woman on a laptop may have a depression that affects her career

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There are some common sense signs, such as the state of your industry and the overall health of the company you work for, but beyond that, there are generally six strong indicators that your job is at risk during a recession.

The biggest indicator starts with an honest self-assessment of yourself because if you don’t have a long-term career goal, you could lose your job during a recession.

If you are currently in your job but can’t define what you specifically do or not The value you provide company, that’s a major red flag.

Have a 2-5 year plan that highlights the skills and expertise you bring to the company and what the company’s return on investment will be if they hire you. It’s about creating and maintaining yours Personal brand. Your career goal should also include a plan for how you want to grow professionally.

While having this plan won’t make you recession-proof, it will put you in a better position if the worst-case scenario occurs!

How to Prepare Your Career for a Recession

Nothing in this world is foolproof, but there are steps you can take now in your current job that will make you less vulnerable during a recession.

It starts with being an engaged employee who always strives to exceed expectations at work.

Be the type of employee you have Career goals in place of You know what value you bring to the company and how you’re going to deliver it.

You should also be the type of employee who regularly reaches out to management to see what you can do to increase your value to the company. An engaged employee is a valuable employee!

This is not the case If A recession is coming; That’s it when. Make sure you are prepared!

Need more help preparing your career for a recession?

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This article was originally published on an earlier date.

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