4 Steps to Save Your Job During a Recession
Are we in a recession?
That’s the big debate.
Many politicians and economists on the right say “yes” — we are indeed in a recession.
Folks on the other side of the aisle will tell you that we have a strong labor market, and thus everything is gravy.
Everything hit the fan around January 2022.
For those who are new around here, I work in corporate sales, covering large commercial accounts in the West territory at a large technology company.
Sales is a tough discipline in general, but things at work were a walk in the park around Thanksgiving 2021 — and business came to a screeching halt in January.
Companies in the real estate industry began to realize that they overestimated the real estate market’s growth. They foolishly believed that they’d cash in on the housing mayhem forever.
It’s like we forgot the financial crisis ever happened.
Layoff, after layoff, after layoff.
Then, outside of the real estate industry, I watched companies delay projects, cut them completely, or keep the project but drastically cut the scope of work.
Deals that were supposed to close for $7 million were closing for $2 million.
“How can our government tell us that everything is going well?”
Day in, and day out, customers were freaking out over inflation, fears of a deep recession loomed, and panic ensued.
Here we are almost a year later, and the economic downfall essentially became a self-fulfilling prophecy.
Companies were so concerned about a possible recession, that they cut jobs, and attempted to become as lean as possible.
While there’s no 100% guarantee that every single person will be able to save their job during an economic fallout — Regardless of “what’s next”, there are ways that we can prepare and give ourselves every possible chance of remaining employed.