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5 Strategies to Recession-Proof Your Career

Proactive Steps Help Prepare for Unemployment

Feb 18, 2009 Hayli Morrison

With unemployment rates skyrocketing, you may question the reliability of your paycheck. Nevertheless, you can take steps to own your career and make it recession-proof.

When unemployment rates and corporate bankruptcies are skyrocketing, it’s natural to worry about the reliability of your paycheck. If anything, the latest business news should serve as a reminder that, indeed, nothing is guaranteed. Nevertheless, remember that you own your career, and you alone can take steps to make it "recession-proof."

Network to Recession-Proof Your Career

The more people you know, the more opportunities you can create. There are a host of networking opportunities with various organizations like Toastmasters, your local Chamber of Commerce, and the Rotary or Kiwanis clubs. Such networking might even be part of your responsibilities for your current employer. It’s never too soon to start networking, but especially if you’ve heard rumors of impending layoffs within your organization.

Save Money to Recession-Proof Your Career

In the event that you are laid off, a padded savings account will help alleviate some financial pressure while you hunt for jobs. If you so choose, it can also pay for your COBRA insurance. Though expensive, this option allows you to extend your employee-sponsored health insurance coverage up to 18 months after you stop working there.

Spend Less to Recession-Proof Your Career

Eliminating unnecessary expenses allows you to save more money for the future. Though it’s obvious, this concept is much easier to discuss than to put into practice. You can accumulate a savings cushion fairly easily by eliminating extras like satellite television, restaurant meals, manicures, and by reducing your food and clothing budget. Instead of spending frivolously and taking your steady paycheck for granted, stay focused on the long-term benefits of saving money.

Diversify Your Skillset to Recession-Proof Your Career

Develop new career skills, new contacts, and new ways to diversify your income. That way, if one income stream takes a hit, you will have other income streams still going strong. You are in charge of your career, so be proactive and don’t let anything surprise you.

Keep a Positive Attitude to Recession-Proof Your Career

Happiness can be elusive when you live each day in fear of being laid off. This is dangerous because stress, fear, nervousness and distraction are not going to win brownie points at work. If you’re already unemployed, look for volunteer opportunities, community service projects, and other ways to help others. This can keep you from dwelling on the fact that you’re unemployed, and can keep you feeling optimistic and productive instead of depressed and desperate.

Essentially, your success is in your hands. Take charge of your career and your life today to ensure a secure, recession-proof future.

The copyright of the article 5 Strategies to Recession-Proof Your Career in Workplace Culture is owned by Hayli Morrison. Permission to republish 5 Strategies to Recession-Proof Your Career in print or online must be granted by the author in writing.

Bolster Your Career, Even in a Recession