KEEPING YOUR JOB IN A BAD ECONOMY

It is only natural for people to begin wondering about job security whenever the economy takes a downturn. Below are some tips that will help you maintain your job in a troubled economy. You should also read about creating stability for your job here.

Identify the warning signs
It is very important that you identify the early warning signs that your job security may be at risk. Some of these warning signs include department budgets being slashed, employees are being let go but not replaced and/or a hiring freeze is developed.

Utilize public info
If you work for a public company, it is important that you take advantage of any sort of publicized information. You can get a strong understanding of your company’s financial foundation by going over quarterly reports and by listening to earnings calls.

Be indispensible
Making yourself indispensible will ensure that you keep your job during these hard economic times. For example, always strive for excellent performance evaluations, attempt to bring business into your company, share contacts that you feel will help in growing the business and also look for ways that will help save the company money.

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If your colleagues are being let go, do not hesitate to address your job security with your manager. It is important that you are direct, but not confrontational.
Even if you are told that your job is safe, reconnect with your network. Waiting until you are out of job to connect is not a good idea. Also, make yourself aware of potential opportunities and reach out to recruiters, former colleagues and managers. You should also always keep your resume updated and think of news ways that you can creatively present yourself via your resume.

Related Reading:  
Surviving an Economic Crisis
Dealing with a Slow Economy 
Reducing Work-Related Costs
401k Investing When the Market is Bad
Getting a Loan While Unemployed

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