I have been getting a lot of emails from candidates in the last couple of months wondering what they can do to “recession proof” their jobs. The economists that work for the federal government consider “full employment” at 4.0%. Currently, the national rate is 4.9%. Our national unemployment rate is the early 90’s was almost 10%. We made it through that period and we will make it through this one as well. I do think insurance jobs are a little more recession proof then most, but your employer may be looking for ways to cut the budget.
We did learn quite a bit however about things workers did to hold on to their jobs or prepare for change. Here are my suggestions to recession proof your job:
1) Understand the financials of your company. While you may get this information directly, you can get a sense how your company is doing by polling the sales staff. If you determine that the “writing is on the wall”, start looking immediately for another company that needs your skill sets. (Home builders, mortgage etc.) DO NOT WAIT to be let go. Be active in your job search at your timetable. If you can avoid being “let go” because you changed jobs first, you win.
2) Schedule your overdue review with your manager. Find out how you are doing in your job and what else you can do for the company that would add value. Yes, you may have to prove to your company that you want to stay there and that you don’t mind going the extra mile. The more value you can add, the safer your job.
3) Update your skills. Education is king and most employers appreciate your commitment to learning. Take a night class, computer class or update your credentials. Whatever you do, make sure you let your employer know.
4) Can you do the jobs of others in your company? Always breakdown the different departments in the company you work to see if you can change internally (do you have job flexibility?) if your job was eliminated. If you are a claims supervisor, do you have the skill sets to be at litigation specialist? If you do, remind your boss that you can do that job.
5) Be involved in professional organizations and trade groups. Network, network and network. Just because your current company may be gloom and doom, others in your same industry may be prospering. Take every opportunity to meet your peers from other companies. It could be the best thing you ever did!
6) Have a great attitude. To me, altitude is everything and will get you wherever you want to go in your career. If your company has to make some serious job cuts and you are in a group of 12 where 6 of you will be laid off, they will never lay off the person with the best attitude.
Here is just one more thought.
No one knows if the economy is in a recession. However, no matter what the people want you to believe, the job you have today is for real and you control certain aspects of it. These recessions proof tips should be practiced at ALL times to ensure you are getting the most from your career.
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