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Tips on Protecting Your Job During a Recession

Written by: Cassandra L. Gierden

Article Overview: Be realistic about your situation. Even if you are an exemplary employee, you are not immune to the potential impacts of a recession. Remember that valuable employees tend to earn more, which makes them candidates for layoffs.

Tips on Protecting Your Job During a Recession

Tips on Protecting Your Job During a Recession

• Be realistic about your situation. Even if you are an exemplary employee, you are not immune to the potential impacts of a recession. Remember that valuable employees tend to earn more, which makes them candidates for layoffs.
• Be prepared. Do not be like the proverbial ostrich with your head in the sand. Networking is a great habit in any economic situation, but is especially important when times get tough. If you talk with others, especially those in Finance or Sales, you will know where the company is headed and will be able to prepare in advance for any downturns. Preparations you might want to consider include: a current resume, being well-versed in the current job market, getting in touch with your internal and external networks, and ensuring you have enough money set aside to manage until you find a new position.
• Be proactive. As in any career situation, you should not be afraid to stand out and make bold moves. If the company is headed into financial difficulty, make proactive decisions that will help. Maybe you can cut spending on an upcoming project without sacrificing outcomes. Carry out a cost/benefit analysis of your work so you know what you bring to the company. Figure out how to eliminate unnecessary costs – even the mere offer to give up your company gym membership can take you far.
• Welcome new responsibilities. Even if you don’t lose your job, someone in your department might and that person’s responsibilities might fall on you for a while. Do not look on this change as a negative, even if the workload becomes hard to handle. Be thankful you avoided a layoff and take advantage of this opportunity to prove yourself. Do your best and you will likely be rewarded in future with a promotion or salary increase.
• Be ready to negotiate. Make a case to your employer about the potential loss in productivity, sales and morale if you are let go or if your department is reduced in size.
• Stay positive. Employees who express understanding about their employer’s situation will fare better than those who overreact or get angry about changes that result from financial difficulties.
• Consider whether it is time for a change. Sit down and evaluate yourself, your goals, and your current employment situation. Maybe being let go with compensation would give you a chance to find a fresh start in another career. On the other hand, I have clients who have told me that they offered to take their package and go, only to discover that they were considered too valuable an asset to be laid off. Others who made the offer found that their chances of being rehired were greatly increased.
• See this as a time to learn what you are made of. Overcoming the difficulties you face in an economic downturn - whether or not you lose your job – will give you greater self-confidence and strength. Those qualities will help you face the next challenge, whether that be a climb up the corporate ladder, starting your own business or a complete career change!

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Article Tags: bold moves, career situation, company gym, cost benefit analysis, economic situation, exemplary employee, external networks, financial difficulty, gym membership, habit, head in the sand, layoff, layoffs, new position, ostrich, proactive decisions, recession, salary increase, unnecessary costs, workload



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