Employed during the recession

Microsoft is slashing 5,000 jobs this year. Intel is following suit by reducing the workforce by 6,000. Google’s quarterly profits are down for the first time. Sony lost billions in profits last year, layoffs loom. Pay freezes, job losses, people queuing up unemployment benefits and list goes on and on.

Everybody feels the huge impact of the recession. Employees who belong to non-recession proof industries are hanging on tightly to their dear jobs. Careers in health care, education and government services are still okay. Nurses and teachers are still very much in demand especially in the U.S. Finance jobs, on the other hand, are borderline. Accountants, insurance professionals, among others are considered relatively safe. However, it is best not be complacent about your current employment. Brush up on your skills, attend advance courses and specialize because you wouldn’t know the shelf-life of your current job. Plus, outsourcing awaits, just waiting for the right opportunity.

Outsourcing, as we are all aware of, creates and takes away jobs. For the countries who provide outsourcing services, jobs are created for their locals. As for the companies who ship jobs overseas, it’s their fellowmen who suffer on the other spectrum of the business equation, for jobs are lost or made obsolete. It’s a fact that some jobs once innate to a particular country will soon be history because of globalization.

So, if you’re still employed, what do you do to keep your job during recession?

Different situations call for different actions. Personally, I employ the following in my career:

1. Work harder than I used to.
This means taking in more responsibilities outside my job description. This may as well justify a raise or a promotion BUT if things look bleak in your company, better forego of the thought. At least temporarily.

2. Get another skill.
A recession-proof skill, to be exact. I am thinking of going back to school. I know, it’s an additional expense at this very inopportune time BUT the operative word here is “recession-proof”. Consider the further studies as an investment. You may have to tighten your belts a bit more to get this goal done. Think long term.

3. Network.
Touch base with former co-workers and bosses. You’ll never know when they need your services again.

4. Establish a business.
Consider building an offline or online business. Working for oneself is better than working for someone else. You own your time; you bring home all your profits. It’s true that you’ll have to put in more hours of work to build your business but that’s how every business owner starts.

The economic downturn is all part of the business cycle. It has its ups and downs. In our personal careers, it’s a test of tenacity and endurance. A test of how much more we can take.

Having said all these, the Pollyanna in me is still optimistic that the situation will improve. The U.S. has a new president and he promised the big change. A change that will hopefully spillover its benefits overseas.