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It’s common to worry about job hunting in a tough economy. Take these practical actions to put yourself in the best possible position to weather any upcoming difficult times rather than worrying excessively.
You already know that things are more unpredictable than ever if you follow the news these days. The likelihood that the economy will steep deeper into a recession is certain. Even though the number of job opportunities is still close to a record high, recent layoffs and hiring freezes by well-known firms have raised additional concerns.
The best way to position yourself for success today and in the future—recession or not—is to strategically approach job hunting during a tough economy and plan to move from where you are to where you want to be. These plans involve the following;
Improve your skill set.
Employers will always be looking for adaptable employees who can diversify outside their primary tasks to help the business. An excellent method to focus your study is keeping an eye on the abilities and skills employers are most interested in. In the upcoming years, most in-demand abilities will be in emotional intelligence, Artificial intelligence, Web3, data literacy, and sociocultural leadership. You should broaden your knowledge outside your field of competence, take on more duties at work, or even change departments or companies as demand fluctuates to strengthen your candidacy.
Be accessible, Be discoverable, Be online.
Although networking is still valuable for creating relationships and discovering opportunities, more work is now found online. 77% of recruiters, according to data from TopResume, use LinkedIn to identify talent. So, if you aren’t online or last updated your profile a while ago, you could be missing out on countless opportunities while job hunting during a tough economy.
Make the proper inquiries.
While a job interview gives an employer the ability to grill an applicant and determine whether they’ll be a suitable fit for an open position, the opposite is also true. Candidates can use it to determine whether the company is a good fit for them. If you’re looking for a new job, you should have interview questions ready to help you determine whether the company is a good fit for you and whether they’re prepared for the recession.
You should consider asking the following questions:
- How many employees did the business keep during the past year?
- How has the business been informing current staff about job security?
- Have they ever performed layoffs? If yes, how did they manage them?
- How well has the business been able to accommodate the needs of its staff in terms of benefits, flexibility, and inflation?
The discussion surrounding such inquiries is “natural,” given that taking on a new job involves a sense of the unknown and will influence the candidate’s life.
Do not take rejection personally.
Of course, it stings when you don’t get the job you’ve been applying for, but taking rejections personally only slows down or even ends your job hunting during a tough economy.
Keep up with the news and have a fallback strategy
A fall-back strategy is a safety net for when your career takes a break. However, these plans frequently evolve and fluctuate according to cultural and economic conditions outside our control. For example, in 2020, before the pandemic, the event-hosting and entertainment industry boomed. But then lockdown came, and the business as usual for event planners and entertainers was halted. Same with the aviation and transport industry; For employees who did not have backup businesses faced financial challenges.
Keep your composure and optimism.
In the meanwhile its best to pick up profitable side hustles so you don’t come off panicked and desperate in your job hunt. Employers can detect desperation, and it is not appealing. You won’t be in the ideal frame of mind to engage in a proactive job hunt if you are completely stressed out about paying your rent.
Job hunting is emotionally taxing, but tough economic times and crazy inflations make it even more stressful. Remember that finding a job takes time, especially if it’s fulfilling, so you must persevere. Many job seekers need assistance to avoid becoming discouraged, and giving up their search.
Be flexible.
In job hunting during a tough economy, it is important to note that the economy moves in cycles. Even if the job market suffers, things will eventually get better. Finding and keeping the job you want can be difficult, even in an excellent economy.
Therefore, even if you’re entering the workforce in a time of economic recession, you should keep working toward your ideal position. Carry on. You will get the job you want and establish the career you want with patience and persistence.
