Since COVID appeared in 2020, society has had many shifts, especially the economy. We went from lockdown layoffs, skyrocketing unemployment, and stimmies to an inevitable recession brought on by severe inflation.
Lately, professionals have been raving about their new positions, their salaries, and their newfound freedoms and flexibility. Others are sharing that they are being let go from their reposition, even almost immediately after getting hired.
WHAT IS A RECESSION?
A recession is a period of economic downturn that impacts everyone. Costs are higher, and wages are either lowered or cut. Many people in comfortable positions are laid off and have to start from scratch. There is no true way to know how long a recession will last and how all will be impacted. The Great Recession of 2008 started at the end of 2007 and lasted until mid-2009. That doesn’t seem like a long time, but many are recovering in 2022.
The COVID pandemic and other societal shifts are contributing to this current recession. We were headed for a recession in 2020, and now, two years later, it is starting to come in full force. Many people will experience layoffs, consumer debt, and other economic crises if they are unprepared.
The recession is actual, and we are only at the beginning, but, you don’t have to let that deter you from starting or keeping your career in tech.
HERE ARE 5 WAYS TO RECESSION-PROOF YOUR CAREER IN TECH:
Upskill:
It’s always a good time and idea to look into new certifications or brush up on the ones you have. Even if you are comfortable in your role, there’s always room to improve. In the event of layoffs, you will be more valuable to your current company or have no problem finding another role because of your new skills.
Showcase your existing skills:
Figure out what you do well and what you can use for marketing yourself. Again, employers are looking to keep and retain the most valuable employees who can fit into other roles. Showcase your skills in your current work and voluntarily to others. Make yourself and what you do irreplaceable.
Expand Your Network:
Find like-minded professionals. Use LinkedIn to find professionals with similar backgrounds. Keep your LinkedIn up to date to ensure your career documents are current and on brand. Get active on social media and in your professional networks. Now is the best time to have people to lean on in other places to keep you in mind when opportunities arise. Connect with thought leaders in your industry.
Explore Recession-Proof Industries: It’s perfectly fine to explore other areas or fields with more stable job security. You can still remain in your position but look into some secure industries that incorporate your transferable skills, such as tech, healthcare, legal services, and education. This may not be your forever role, but you could learn some transferable skills to make you an even bigger asset in an even larger role.
Stay ready:
Even if you do everything right, no one is exempt from a rainy day. The best thing you can do, in addition to everything else, is to have a plan just in case. Remember that nothing is forever, and it’s always a good time to have a plan.
There are trying times ahead, but if you do what’s necessary, you can lighten the blow to your life and career. Always remember that you have what it takes and can always do better.