Tips to stay strong during Global Recession

posted in: COVID19 | 0

Covid-19 has bought disruption to economy and our daily life. When all things were going well our life got stuck with Pandemic due to which our routine has taken a toll and we all are living a very uncertain life.

Social distancing is a new norm and life is still, roads are empty and we are not resuming to work as WFH (Work from home) is the new normal. Due to uncertain stand still economic has turned upside down and we are in the midst of what looks like a possible recession. Most companies begin to reconsider their hiring plans and many have stop hiring altogether as they wait for the weak economy to grow

Some experts believe that recession is inevitable. In the last recession—which kicked off in 2008 India lost 6 lakhs jobs in 4 months as per sources so, it’s no wonder workers across the country are worried and finding way to secure career.

During a recession companies are rationalizing and reconsidering their hiring plans as they wait for economy to grow. Unemployment and Layoff up is rapidly increasing and securing a candidature is becoming a challenge. The medium of job search, resume appearance, strategic cover letter, salary negotiation has changed due to economic slowdown.

Securing a job during an economic slowdown will be challenge however you will have to be calm, patient and proactive. Mentioned below are some tips which will help you stand strong during such tough time:

  1. Strategic Job search:
  1. Develop a plan for Job search and plan out what are your area of interest and what you want and how to reach there. Research on companies, Industries and available openings along with some deadlines. look at industries that are growing, hiring rapidly or are recession proof. Within those industries look at firms that have obvious growth plans. For instance, in start-ups, education Industry, health care industry, IT and technology players continue to hire and are recession proof jobs.
  • 2. Strengthen your Networks:

Networking is nothing more than getting to know people. Whether you realize it or not, you’re already networking every day and everywhere you go. Do your own research and react out to your networks and consider keeping a tab on companies and their recruitment drives/Openings and connect with people. Find and reach out to the best opportunities possible, do not rely on job boards. While you are looking out for opportunity take notes on people in your network and their focus on building relationship. Networking is give-and-take process that involves making connections, sharing information, and asking questions. Be considerate and ask for advice Invest in your network by following up and providing feedback to those who were kind of enough to offer their help. Thank them for their referral and assistance and make sure you connect opportunities with people in your network who might need those openings. Access Opportunities through your personal connections, professional reputation and overall acceptance is what will open doors to new roles

3. Focus on Growing Industries:

Focus and concentrate on Industries that are growing and jobs that are in demand. Many of the companies are developing fluid workforce which demands nature of remotely working, you just need to acquire required skills set and additional certification if required. There are many online portals which help you boost your skills and possess required experience. Several opportunities are arising in specific industries like Health care, Education, Gaming and technology and many of the companies in these fields are experiencing unprecedented growth.

4. No more Comfort Zone:

Tough times are all about survival and less about choice. To survive and find your next job in a difficult market, be prepared to step out of your comfort zone. Nature of Job may demand switching industries Be adaptive and Flexible as the nature of Job may demand you to relocate or work if different time zone or travelling to cities. Be ready to accept new challenges and explore new opportunities that provide stimulating atmosphere where you can be involved with cutting-edge technology and innovative projects.

5. Work on Skills:

It better to add up skills in your profile with experience that will be valuable no matter the state of economy. Tough times are ideal for investing in self and growing rapidly as a professional. Learn or take up new skills that are in demand for particular job or industry. Seek out learning opportunities to expand your talent stack. Learning new skills can come from doing work or learning through formal/ informal/ online training programs. New skills are what help dig you out of a recession and find new ways to add value to people’s lives that you can make money from.

6. Seek Income and not Job:

When jobs are tough change your focus to boost your income. there are many remote, part-time jobs available, depending on your expertise, experience, and needs. Freelance assignments, contract work, time-bound project work, internships, pure commission-based sales, online tuitions by opting for such activity you’ll be able to double your income, expand your skill set and such options pay decent and can carry the burden of bill-paying until a permanent position comes.

7. Bounce Back with positive attitude:

Having right attitude and thinking makes a huge difference like its well explained in law of attraction. You can’t control what’s happening around but you can take control of our life. Remind yourself you are not a failure; you are experiencing temporary adversity in life and that is normal phase of life. Loosing a job or struggling to find a better one.  Understand that You won’t be perfect; you’ll have tough days that feel like crap; you’ll lose control once in a while; you might even blame yourself however rebuild your self esteem to come out of the situation and pick yourself back up again. Take one day at a time and set yourself with simple goals like meditation or exercise, take some time out to have a quick conversation with family and friends.

Shraddh Shikhare
Follow Shraddh Shikhare:

Freelance Content Writer @ Mega HR Consultant

MBA in Human Resource from Indian Institute of Management Studies with a work experience of 7+ years into HR Functions. With rich experience in HR And Recruitment, Performance Management, Strategy Development and Implementation, Policy Development, Attrition Management and Creative Retention Strategy

Shraddh Shikhare
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