Thrive Your Way Through The Great Recession
- by Neha
Do not let the great economic recession become your great depression, we will tell you how to survive a recession.
Before we start let’s ask ourselves what is economic recession. In technical terms, the negative decrease in the gross domestic product in two consecutive quarters is the recession. To make things official, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) has officially declared a global recession. According to the KPMG report, of more than 1,300 CEOs at large companies globally, 91% of CEOs believe there will be a recession upcoming in the next 12 months.
It is clear that the future of the economy is uncertain and the only way an employee can tighten the rein on his/her financial well-being is by taking action. The actions to secure the job during the economic recession are mentioned below.
In a period of economic downturn, if you can not stand out of the crowd, you do not stand a chance. Earn the knowledge that others can’t beat, because even in the recession, employers hold onto employees they can not afford to lose. Remember that tough times do not last, tough teams do. Being dependable workers with a wide range of skills and communication enhance the chance of making your way through the company layoffs.
Step Up Your Game
Time is of the essence, and there is no room for procrastination. India is already feeling the impact of the first wave effect of recession and it will not be too long before every company starts their mass layoff. Here the concept of ‘it’s never too late’ does not apply, so secure your job with promises to show up on time and meet the deadlines. Like every relationship, your connection with your company is all about commitment. Show your actions before the thought of dropping employees even crosses your company’s mind. Words of the wise, it never hurts to add a little extra to your plate, it is the small actions that will help you get through the storm.
Try Avoiding Remote Jobs
Even though the pandemic has shown a tremendous change work environment and a drastic increase in remote activity. A survey has shown that 60 per cent of managers believe that remote workers would probably get laid off first. Another survey from GoodHire shows that 8 in 10 remote employers think they are more prone to lay off than those working from the office. So, commuting to the office might burn your motor bills but it is better than no bills to pay for anything. In the time of economic recession, let’s throw work from home out of the frame and engage yourself in the on-site location. This will make you have better connections with your supervisors and make them notice your contribution to the betterment of the company.
No one has any control over the recession, but you have the control of being the best and being an indispensable asset to the company. Focus on that.
Do not let the great economic recession become your great depression, we will tell you how to survive a recession.…