If you are watching the news or scrolling through social media on your phone, you’ve likely seen ‘recession’ trending in the headlines. With the pandemic, supply chain issues, war, and inflation, it’s no secret the entire world has had a tough few years. A Bank of Canada report shows that “… the labor market has surpassed maximum sustainable employment”. Some predictions have led experts to believe that we could have a recession later this year to early 2023, but it will be a mild one in terms of widespread job losses. It’s still a good idea to prepare yourself for the unexpected, as job loss can impact anyone. Now is the time to ramp up your career game and improve your skills to help achieve sustainable employment.
Transferable skills
Whether you’ve stayed in the same career for decades or changed jobs often, you’ve likely developed a professional skill set. The skills you’ve developed can be transferred to new roles or positions within (and outside of) your current organization. Make a list of the skills you’ve developed so far in your career that you can apply to situations to help you keep your current or future role. Knowing your skills and understanding how they are valuable can help you stand out from your peers. Some examples of transferrable skills are excellent communication, computer skills (including specific programs you can use comfortably), time management, and writing.
Invest in your skills
Many people will invest in things like stocks and properties but may forget to invest in themselves for personal and career growth. Investing in your skills can be either free or paid, but the most important factor is taking the time to do this. If you don’t have a lot of financial resources, you can stay current with trends by reading industry articles and taking free online classes through sites like LinkedIn Learning and Coursera. Sign up for LinkedIn Learning for free through your local library.
If you have the resources, paying for certifications or even post-secondary education is a great way to invest in yourself. Overall, to achieve career growth and recognition, it’s important to continue learning and growing.
Diversify your revenue streams
The freelance workforce has grown in popularity over the years. Freelancing can be your main source of income for extra money or a great way to keep job security if you have another job that might be at risk. There is an abundance of ways to find work in the gig economy including on Upwork, Fiverr, Gig Salad, Uber or even using your existing network- like posting in online community groups. Just remember to research the platform you would like to use and don’t discredit your skills!
Build your relationships
Making new connections inside and outside of your industry is a great way to recession-proof your career. This can help you gain further access to new opportunities and perspectives. It is also important to consistently maintain contact rather than only reaching out when you need something. Keeping an open connection with your network will make you appear genuine and will most likely help you succeed in the long run. You never know what opportunities will be presented from your network!
Don’t forget about self-care
Life has changed drastically in the last few years and it’s easy to feel anxious. Stressing about whether your career is secure can be a consuming thought. It’s important to remember to practice self-care. Do things that make you happy and relaxed, like going walking with your dog, getting a massage, or even socializing with friends. Turning to hobbies you enjoy can also be an outlet for stress and a mood booster!
Want to learn more about how to recession-proof your career from employment industry professionals? Sign up for our free workshop on Wednesday, August 31, 2022! Learn more here: https://bit.ly/workbclangford