How to Build a Recession-Proof Career Part III. 5 ways to recession-proof your actual JOB (not just your mindset!)

All good things eventually come to an end — and that includes a hot economy.

What's happening?

The U.S. economy will likely tip into recession during the first quarter of 2023 and shrink 0.4% for the full year as the combination of high inflation and tightening monetary policy bedevils consumers and businesses, Fannie Mae economists said.

Why it matters?

Recessions are historically marked by a period of widespread layoffs, bankruptcies, higher borrowing costs and turbulence in the stock market.

What's next? 5 steps to recession-proof your career

Most jobs are not guaranteed, but once you have recession-proofed your mindset (The Babcock Method? Newsletter Part I)? and have the mental tools you need to take aware action and be in choice versus feeling powerless (The Babcock Method? Newsletter Part II), here are 5 steps you can take to recession-proof your job.?

These are some of the key steps I work on with my clients regardless of the state of the economy:

1. Audit Your Skills?

Take a look at both your hard and soft skills. Where are the opportunities to develop your skills, and what skills are transferable? Understanding where you stand in relation to current skills and what you can do to better your skillset will serve invaluable to your work.

2. Stay Up-to-Date on New and Evolving Skill Sets?

Stay ahead of the curve when it comes to relevant skills for your position. Subscribe to industry newsletters, read relevant news articles, or enroll in continuing education. If your skills are top-notch, this can set you apart from your peers if there’s talk of layoffs.

In addition to keeping your skills sharp, keep an eye on occupations with expected job growth. While the tech industry continues to see growth, there is also a growing need for skilled laborers and more.

3. Keep Your Digital Presence Fresh (Including Your LinkedIn)

If you’re nervous about your current position and want to put your feelers out in the job market, make sure your digital presence is up to date. Update your LinkedIn, website, or personal social media to ensure it accurately reflects your experience in case opportunities should arise.?

4. Network with Thought Leaders in Your Industry

Networking is a key recession-proof job skill. By reaching out to connect with thought leaders, you’ll gain insight into different aspects of your industry, and you’re likely to discover opportunities that you wouldn’t have become aware of on your own.

This is also why it’s important to network even when you’re not looking for a job. Maintaining relationships and keeping a pulse on your industry with thought leaders could unlock possibilities for your career.

5. Explore Informational Interviews

In the same vein as networking, informational interviews are an effective way to learn about your industry, other industries and companies, and different roles. You don’t have to be looking for a new job to learn about someone else’s.

Informational interviews are a powerful tool for your career development because they allow you to gather information and learn about areas that may interest you without the stress of a typical interview.

Enter your conversations, interviews, and emails with confidence and positive energy. When times are tough, an optimistic, strategic thinker is more valuable than a cautious block to progress.

Interested in learning more? Not sure what your soft skills are or how to do intentional interview outreach? Let’s chat… (link to a free 10-minute clarity call).

Be a warrior, not a worrier,

Rebecca

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