Americans fear for their jobs
According to a survey by Insight Global, 78 percent of US workers are concerned about their job security during the potential recession. More than 1,000 Americans took part in the survey. 23 percent of them were “extremely concerned” about losing their job in the next recession. Managers should think more about this than people who are not managers. The majority of respondents also indicated that they were not financially secure and did not know how to prepare for the next recession. In two of its articles, “CNBC Make It” gives some advice on how not to get laid off and not lose your job during the recession.
Skills that are also in demand during the recession
According to CNBC Make It, there are “recession-proof” skills that companies would look for and hire even during a recession. One of them is flexibility. The reason for this lies in the different framework conditions that each recession brings with it and to which it is necessary to adapt. “Every time a recession hits, the substitute work option changes,” says Julia Pollak, chief economist at ZipRecruiter. According to her, during the last “Great Recession” in 2009, many workers in the tech and financial sectors were able to switch to the hospitality and retail sectors. In times of the corona pandemic, for example, this was no longer possible. Laid-off employees therefore had to look for another alternative. In order to be able to signal flexibility, it is important to show in the CV that you have often worked in different roles, functions or departments in the past and that it is not a problem for you to navigate through different tasks. Another related skill that will be in high demand in the next recession is Make It project management, according to CNBC. Anyone who has mastered project management can adapt well to changing subject areas and master new challenges. According to Pollak, these people “who can recognize the new problems, articulate solutions and drive this plan forward” would be sought after in the next recession. A third and equally important skill is the ability to communicate. According to Pollak, it would be a universal competence that would be sought in every industry. Among other things, it is useful for creating presentations, writing e-mails and giving feedback. It also helps a lot in building interpersonal relationships.
Working as a freelancer
Another way to protect your career against the recession, according to CNBC Make It, is to diversify your own work. Anyone who would diversify their sources of income would prepare themselves financially for the effects of an economic downturn. In addition to doing several jobs at the same time, working as a freelancer is suitable for this. As a result, you are not so dependent on a company or a job. An alternative is a job with a company that is pursuing several projects and fields of employment at the same time. In this case, employees who always work on other projects are also protected from the recession by diversification.
Nicolas Flohr / Editor finanzen.net
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