A slowdown in the economy is perhaps the worst that can happen to anyone’s career. Even the slightest probability or threat of losing your job not only affects your productivity but hampers your morale as well. Whenever an organisation decides to downsize its workforce, it’s the bottom line of management — the weakest performers — who suffer the most. While it is hard to be critical of your own performance, what is it that you can do to survive a slow job market?
Keep a close watch on the market
Make it a habit to read newspapers and business portals to understand what’s happening in the job market and in the industry you work in.
- Is your industry reporting attrition and pay cuts?
- Is your company involved in talks for a merger or acquisition?
- Is your organisation’s financial security at stake?
- What does all this mean for you as an employee and as a professional?
Analyse your prospects whether you should stay on in the organisation or look for better opportunities before it’s too late.
Update your CV
The best thing to do in such a situation is to update your CV and start interacting with head hunters. Find out if there are any opportunities you can consider applying to. If you already have a job, the key is to not sound desperate to find a new one.
Remember the slightest hint of desperation may work to your disadvantage.
Don’t be disheartened
In the event that you are in the firing line, do not lose heart. A pink slip can happen to anyone, and in some cases for no fault of theirs. Don’t waste time wondering what you must do next. Take control of the situation and quickly start looking for alternate opportunities. At this point, you must remember that you can’t be too picky. You might be asked to take a lower paying job, but it’s only a matter of time. You can always improve your chances after you get the job or demand a better deal once the economy restores itself.
The key to long lasting career success is to be indispensable at work. Here are some tips that should help you in the long-run:
Don’t wait to be told what your duties are. If your manager or boss needs to keep sending you reminders, perhaps it’s a warning sign that you’re not doing your job well.
Don’t be complacent
Irrespective of what level you are at the organisation you work for, never rely on your past laurels and accolades.
Treat each day as new, each assignment as a new opportunity to better your performance.
Be aware of your targets
At the time of joining the organisation, every employee is given a set of goals or targets that s/he is supposed to achieve in the forthcoming year.
- Be sure to stay updated on what your latest targets are.
- If you have any doubts, connect with your immediate manager or HR executive and find out where you stand.
- Analyse your performance graph from time to time.
If the management is constantly trying to tell you they’re not happy with your performance, it’s time you did something about it.
Of course, if you feel they’re being unreasonable about their targets and deadlines you have every right to quit and move on.
However that should be the last resort.
Be aligned to your management goals
Ensure that your individual goals are not in conflict with your organisation’s goals.
Realising the organisation’s goals and objectives will also help you improve productivity and trigger your engagement and commitment to the company.
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