Protect Your Job During a Recession

Is there a recession coming? Alan Greenspan didn't think so when he was questioned on The View, but all signs point to yes. President Bush plans to stimulate the economy with his "shot in the arm" tax rebate strategy, but that won't be enough to sustain the average American. If jobs start to become scarce, how can you protect your paycheck?

Start by knowing the truth about your company's financial situation. If you work for a big name corporation, be sure to watch the news reports. They are often full of information about major businesses that are planning lay-offs. If your company doesn't make headlines, look for other signs of money trouble. Are they cutting hours and benefits? Are they getting rid of temps and contractors? Did they cancel the Christmas party or annual team-building retreat? Any of these could be signs of flagging finances, and possible unemployment ahead.

Positions that don't bring in money are usually the first to go. These include customer service and administrative positions. If the recession hits, and if you have the chance, offer to switch to a new position within the company. Sales positions aren't for everyone, but they might offer some relief while you search for a new employer.

The most important thing to sell is yourself! Don't be too modest about your accomplishments when your job is on the line. Also, make sure that the right people know how valuable you are to the company. (The "right people" includes anyone with the ability to terminate your position.) Try to ensure that you are perceived as a competent hard worker.

An old adage suggests that we hope for the best, but plan for the worst. Before you're out of a job, spruce up your resume' and get it ready for some action. There are plenty of resources online which can help you put together a resume' that gets noticed. Take advantage of their advice.

Finally, never underestimate the importance of networking. Sit down and think about all the friends, acquaintances, and co-workers you've had over the years. Experts advise us to come up with a list of fifty people that could be called on in times of real need. That might seem daunting, but remember that these contacts don't have to be your closest friends. If you left a company on good terms with someone, put them down on your list. They might just know about a job opening. Online job search networks, such as Monster.Com, also have networking services. If you're too proud to call up an old friend, get over yourself; we all need a little help sometimes.

It looks like a hard road ahead for American workers, but we still have time to make preparations. Gather up your resume' and contact list before the situation calls for it. If you don't have to use them, that's great! But you definitely want that safety net in place if you do happen to need it, now or in the future.

Sources:
Deirdre Walsh. "Bush Calls for Quick Tax Relief". CNN.Com
Bob Rosner. "How to Keep Your Job in a Recession". ABCNews.Com