The truth is that the corona virus does not only pose a threat to your health, it has also started a global recession, which might impact your career. Adjusting to the job market in these times of uncertainty will be a difficult challenge, but it is important to stay focused and prepare for the inevitable.
By working to find a balance between strategic thinking and embracing uncertainty, you’ll be on a path toward a more relaxed and confident decision-making practice that will ensure you do not sink with the times.
1. Stand out among the crowd –
You might be good at your job. But when your bosses start laying people off, being good doesn’t cut it. You have to be indispensable.
This is not the time to just “put your head down and do your job.” Make sure your boss knows what you are doing. Without sounding boastful, communicate your contributions to the company. Speak up at meetings. Volunteer for special projects. Work a bit later than everyone else in the office. Remember, most other people are quite comfortable being unnoticed. So, being extraordinary and standing out from the pack is often relatively easy.
2. Be a supporter not a resister –
These are challenging times for business owners. They may be facing difficult decisions about how to generate more revenue or where to cut costs. This is not the time to resist change. If your company is not giving raises this year or eliminating certain perks, understand that these steps may be needed for the company to survive. Support the new plan, offer helpful suggestions, and speak favourably about it around your co-workers. Your ability to empathize, particularly when facing adversity, reveals a maturity that will elevate your status.
3. Consider switching careers
The economy today is very uncertain. Even if you do everything you can to maintain your current job, there’s still a chance to get laid off (especially if you’re in a very high-risk industry).
So, you should always be prepared to switch careers. And yes, sometimes this might mean doing something you don’t enjoy as much, but the goal here is to get through the hard times.
As a start, we recommend learning some new skills, or going through online courses in other industries. You know that one skill you’ve been meaning to learn for months, but didn’t get a chance to do it? Now’s your chance!
4. Start growing an emergency fund
Experts recommend having at least 3 months of expenses stored away as savings. Start putting that money away now for a rainier day. Savings rates are also at a record low and exchange rates will start plummeting. Very soon, there might not be enough funds for investments and foreign goods will become more expensive.
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