It’s the end of another long week at your full-time job. You finish up your work, turn off your computer, and gather your belongings to head home. Just as you’re about to leave, your boss stops you, a frown on his face.
“My office,” he says. “We have to talk.”
Once inside his office, you listen as he explains that the company has to make cutbacks, and this includes letting go around 50% of the current employees. Your job, and hundreds of other jobs, are now being cut in order to keep the company from going bankrupt. You protest, “But I’ve been working at this company for 20 years!” to no avail. Suddenly, you find yourself without a job, and without any financial security.
This situation is one that millions of Americans are experiencing, due to the current state of the economy. In a world of uncertainty, it’s impossible to know if your job is going to be the next one to be on the chopping block. Since part of keeping your family safe involves financial security, what are your strategies for finding a secure job in today’s economy?
What is “Recession-Proof”?
First, we should define the term “Recession-Proof”. There’s no guarantee that any job, no matter how secure, will be stable during tough economic times. Changing markets, consumer confidence and many other factors have a lot of influence over what types of jobs are available. Also, some “secure” jobs may require you to take a considerable cut in pay. It’s estimated that around 50% of workers in the United States make less than $505 per week. To find a stable job, you need to follow a few key strategies, which will improve your chances of getting (and staying) employed.
Here are a few tips for finding a secure job:
Know Your Strengths
Don’t try to apply to a job that is outside of your skill set, no matter how appealing it is. To have a secure job, it’s best if you play it safe. Check your employment experience, and see what it will look like to a potential employer. Do you have experience working in restaurants? Have you ever worked retail? Decide what your biggest strengths are, and then apply for jobs that are within your field.
Avoid the “Overqualified” Label
It’s tempting to make your resume look appealing to a potential employer. However, be careful that you aren’t over-selling yourself. Many people aren’t aware of the fact that being over-qualified for a position can actually hurt their chances of getting hired. The reason for this, is that an employer hiring for a low-to-mid-level position doesn’t want to hire someone that’s going to leave for a better offer. They want to hire someone who will be entirely committed to the job, and won’t feel “undercut” due to their past experience. Let’s use an example – you’ve been a manager at a high-class restaurant for several years, when you suddenly find yourself without a job. If you apply to be a server/host/cashier at another restaurant, what will your potential employer see when looking at your resume? They will assume that you’ll feel undermined by working in a lower position, and won’t consider you as the best fit for the job.
Know The Market
Part of searching for a recession-proof job involves knowing the current job market. This means that you’ll need to stay updated on economic news, as well as current news about the state of the economy. For example, if you read that the retail industry is cutting jobs, don’t apply for a position at a retail store. If you see that a local business has just opened up 1,000 new positions that might fit your experience, don’t wait to apply for a job. Keep tabs on the current job market, especially in your area.
Consider Working For Yourself
If you’re business-savvy, you might be able to start your own business, which may involve working from home. With your own business, you don’t have to worry about being fired, or being let go due to budget problems. However, starting your own business is extremely time-consuming, and can also require a financial investment. If this is not a problem, you might be able to focus on starting your own business, which can give you a huge amount of financial security.