The National Bureau of Economic Research (NBER) defines a recession as a “significant decline in economic activity spread across the economy and lasting a few months.” Deloitte reports that the US economy is still strong, with a chance of a recession happening at 15 percent. However, it may be too early to issue a recession warning because economists say the economy is still doing well.
The US Bureau of Labor Statistics reported an increase in jobs for this month. Despite news of layoffs in many industries, the job market is still growing. Since recessions have a possibility of happening in any business cycle, protecting yourself and your loved ones should start with your career. What can you do to prepare yourself for it? Here are some ways:
Find and Build a Relationship with a Mentor
Those who prefer to associate with only their peers could see their professional advancement stagnate. Having a professional mentor is similar to having a good adult role model. A mentor-mentee connection can be similar to a dependable family member or friend looking out for your interests. There are multiple benefits to having a mentor as a working professional. This can include having an accountability buddy and a cheerleader.
A mentor could be a professional in your field or even a former teacher. Your mentor does not have to be older or more experienced. However, they need to be someone with a commendable career trajectory and work ethic. In addition, having a mentor should not cost money, unlike a professional life coach.
In finding a mentor, you need to answer some questions, such as the areas where you struggle. For example, do you struggle with managing finances? Do you have trouble handling your money? After remaining with the same company, are you unsure of your career path? Would you prefer to relocate and live in a different state? Look through your contacts or even your current professional network after you have your inquiries.
Be bold and make contact. You can respectfully ask the person in your mind about becoming your mentor by sending an email or an SMS. You can send a message and politely ask if they are willing to become your mentor. Talk about the difficulties you are having at the moment in your career. You can start the conversation by reminding them of your connection.
If they agree, maintain the relationship and seek to enhance the connection. Having a mentor is having a life-long friend. Like any healthy relationship, you need to nurture it by maintaining conversations with them through email or making time to have a cup of coffee.
Develop a Social Network Beyond Your Industry
As crucial as building relationships in your field, you also need to build networks outside of it. Making relationships outside your field gives you contacts for new business opportunities or ideas. Additionally, having connections outside your business can give you a better perspective on other industries and the areas where a career change would be most appropriate.
Developing your creativity and strengthening your sense of self are two more advantages of networking outside your field. Knowing there is more to learn and professionals to learn from might give you more self-assurance. Recessions provide opportunities for people to band together. An existing social network outside your industry can provide you with options for a career change or expanding your abilities through newly available ones.
Be Brave, Work Smart, and Upskill
Truly, humans are creatures of habit. You might believe that your learning capacity has run its course. Going back to school can cause anxiety for some people. Others want to remain in their comfort zones. However, the advantage of upskilling always outweighs the stress or temporary loss of time.
One of the ways to upskill is to develop a plan of action. You can start by figuring out your weakness in your career. Are your communication skills strong? Are you open to learning new software? Do you find it hard to request professional training in your own company? Does your company lack that training?
After you have figured out the question to answer first, formulate a strategy. If you are eager to learn new software, skill, or application, forward this concern to the team responsible for performance management. If the company has no funds for the training, consider searching for the free online training through forums or affordable massive open online course platforms (MOOC).
Reddit users may sometimes post Udemy codes to enroll in different courses. Coursera and edX are examples of MOOCs that provide affordable courses from basics of Python to advanced programming ones. There are also tons of free online resources on YouTube and online libraries. You can even use promos that will allow you to look at, even finish, courses within seven days free of charge.
Revisit and Polish Your Resume
The ideal documents to describe your employment history and talents throughout your career are your CV and resume. Your career path may have been straightforward, while others may have encountered difficult-to-explain gaps. Knowing the best approaches to explain the gaps is one aspect of polishing your resume.
There are three ways to describe your employment history on a resume: chronologically, functionally, and in combination. A career evolution throughout the years can be explained using a chronological résumé. Functional resumes might assist you in emphasizing the abilities and education that have benefited you when you shift careers. Finally, a hybrid resume, also known as a combination resume, emphasizes your experience and acquired talents.
You can get the template you need to generate your resume using a variety of online and offline applications. Free templates for your CV and resume needs can be found using Google Docs, Canva, and Microsoft Word. Make sure the material you present is only empowering and appealing to employers when you review and polish your resume.
Take Advantage of Staffing Firms
Partnering with a staffing agency has many advantages. A staffing firm usually has access to a network of private and government organizations. They can assist in putting you in touch with businesses on your behalf without your involvement. Unlike other arrangements like freelancing, staffing agencies offer jobs that can include health benefits necessary in a post-pandemic world.
Staffing firms have openings for contractual, temporary, and permanent jobs. Whether you are already employed or looking for a job, you can count on one to provide you with a match best suited to your qualifications and requests. In addition, having one in your arsenal against a rumored recession will only better equip you with opportunities.
LET US WORK WITH YOU IN BUILDING YOUR CAREER DESPITE A LOOMING RECESSION.
With Agile Workplace Staffing, you can trust that we have your best interest. We believe matching talent with the ideal company is sustainable and profitable for all parties. So, whether you’re worried about the rumored recession or just interested to know what is out there, we will be your partner
Your engagement with us here at Agile does not end when you land your ideal job. As your strategic career partner, we will assist you in creating a path to your objectives. Agile WPS thinks that finding the correct employment prospects is the first step to success. Our team of skilled recruiters can assist in your application for careers in Engineering, Manufacturing, Warehouse and Distribution, and Life Sciences. Get in touch with us now to discuss how we can help you launch the next phase of your career!