With much debate over the U.S. economy potentially entering a recession and labor shortages continuing, it is an excellent time to ensure your value and take steps to prepare for a pending recession. How do you prepare for a future recession and possible layoffs?
Check Yourself then Promote Yourself
In times of uncertainty, see what you can be certain about. Are you certain you are putting your best foot forward in your current position? Are you demonstrating your best effort, most of the time? Could your skill set use a review? Kindly do a self-assessment to see where you can make improvements.
If you are already doing a stellar job and giving your work 110%, make sure this contribution is visible to your leadership team. Your boss is likely busy, ensure they see the value of your presence and contributions. Ask for a time slot on your manager's calendar and talk about transferable skills you may already have or future skills you want to learn. Reminding your manager of the contributions you offer and the future ones you plan to contribute will bode well for you.
Krissy Whitaker, Accounting & Finance Recruiting Expert states: “With so many uncertainties of the economic climate pending in 2023, we know that the war for talent will continue. The reality of hiring top talent is challenged by the lack of candidates available amidst the vast number of openings. How can you stay relevant and be visible with so many companies eager to hire critical staff? Many companies are seeing a lack of qualified & available candidates, so take the time to stand out from the crowd! It’s important for you to consistently show your value and announce accomplishments to be highly visible for future employers to know you. As recruiters, our consistent presence in the market will prove to be an asset for you when you are open to making a career move!”
You Should Always Be Proactive Regardless Of The Economy
While you assess yourself, continue to re-evaluate what an employer of choice means to you. Ensure that you are keeping your resume and skills up to date and explore your professional network on LinkedIn. If you end up needing to make a transition, you will position yourself for success in the future.
LinkedIn offers skills assessments, recommendation requests, certification courses, and more – if you are looking to be an indispensable asset to potential employers, LinkedIn is an ideal place to start.
Unfortunately, reductions in force (RIFS) are inevitable, these decisions are often out of your direct manager’s hands. Either way, it is better to be prepared.
Doing The Above Makes You More Marketable
While your value has always existed, it is good practice to build on it and be prepared for the unexpected. Do the things now that can make for a smoother transition if the time to move on comes around.
While making yourself stand out, there is no need to overstep and try too hard to gain your manager’s attention. Simply remember to show your value and discuss it with your supervisor. Asking for feedback is a flawless way to ensure your work is seen while gaining an honest evaluation.
Reaching out to a recruiter is a great way to start networking. This future relationship can help you be prepared by working with a well-connected professional when the economic future is uncertain.