ARE YOU PREPARED FOR A (POSSIBLE) RECESSION?
It’s hard to find an economic forecaster that does not predict a recession soon, although many disagree on when, how severe, and for how long. And while it may be dizzying to go from a tight labor market to significant layoffs, you want to be prepared in case the downturn affects your job. Abel Personnel Recommends you take these seven steps in order to be ready.
1. Prepare Your Finances
Know your monthly expenses, cut out unnecessary recurring charges, and start an emergency fund.
2. Audit Your Skills
Create lists of both hard and soft skills, identify which are likely to be “recession-proof,” update your technology skills.
3. Create Touchpoints
Stay in contact with your company’s leadership so that you are “in the know,” your efforts are visible, and they know how indispensable you really are.
4. Network For Freelance and GIG Opportunities
Build these relationships as you may need to go this route until companies are hiring full time again.
5. Update your Social Media, Resume, and Cover Letter
You’ll want to be ready to respond to other job opportunities immediately if the need arises. Update your social media (Linkedin) and job history. Your Abel recruiter is available to review your resume.
6. Be in Touch With Your Abel Recruiter
As the first sign of an impending layoff, make contact even before you know if you’ll be affected. Our recruiter can already be making contracts for you, ideally minimizing the downtime between your last job and your next one!