What Can You Do to Add Value to Your Organization When a Recession or Layoffs May Be Looming?
Are you preparing for the upcoming job layoffs and possible recession that could hit in 2023? According to *CNBC’s “The Bottom Line”, financial executives are bracing for a recession that they expect will hit in the first half of 2023. But whether or not it actually happens, it’s a good idea to work on improving your skills so you add value to your current (and future) employers. Improving what you bring to the table is always a bonus regardless of what happens in the economy and workforce.
Here are some of the best ways that you can position yourself in case a recession is right around the corner or if job layoffs increase. The following will also help you be a better professional and make you rise to the top above other job candidates and competition:
Ask Your Manager for a Quick Review
Feedback is an important part of any working relationship. It can help you to understand how your boss sees you as a contributor, and it can also give you insight into his specific performance expectations. Moreover, feedback can be useful in identifying areas where you need to make improvements. Of course, it is important to remember that not all feedback will be positive, but if you take the time to listen to what your boss has to say and to reflect on his comments, you will be able to use even negative feedback to improve your performance and better meet expectations. If you’re new to your job, you can ask for a mini-job review. This will show your employer and your organization that you want to do the best work possible, and give you important information you can tweak to ensure that you’re on the right track to being the best professional possible.
Go in to Work a Few Days a Week to Build Relationships
Since the beginning of the COVID-19 Pandemic, we’ve all enjoyed some of the benefits of working from home offices. No commute, wearing whatever we want, saving money on ordering lunch in, etc. But one of the casualties that came along with those perks is the lack of interpersonal relationship-building that happens in the office. Chatting with a colleague in the kitchen, grabbing a bite to eat at lunchtime, or discovering each others’ hidden skillsets during an impromptu meeting are events that don’t happen over Zoom. And if you’ve entered the workforce during the Pandemic, you may not have ever been in the same building as your mentor, co-workers, or boss. So now that things are opening back up, if your company offers a hybrid home/office option, definitely go into the office a couple of days per week. Shake hands with people, invite them to lunch, find common ground with the people you work with and share some of the things about yourself that make you unique, fun, and an asset to the company. You won’t be sorry!
Find a Mentor in Your Company, or Outside of Your Organization
One of the best ways to improve your work skills is to find a mentor. A mentor is someone who can provide guidance, support, and advice when it comes to developing your career. They can help you identify your strengths and weaknesses, and set goals for your professional development. Additionally, this expert can offer you an unbiased perspective on your work, and provide feedback that can help you improve. Finding the right one can be a challenge, but it’s worth taking the time to build a relationship with someone who can have a positive impact on your career. Try to find someone who has experience in the field you’re interested in, and who you feel comfortable talking to. Once you’ve found this professional, be sure to take advantage of their expertise and use their feedback to improve your work skills.
Try to Stand Out
With a possible recession looming, now is no time to be a wallflower. Making an effort to be seen as a valuable employee is crucial. There are a few things you can do to make yourself stand out from your coworkers and colleagues. First, take on additional responsibilities and projects whenever possible. Showing that you’re willing to go above and beyond what’s expected of you will make you a more valuable asset to your company. Second, try to be a source of new and innovative ideas. If you can help your company stay ahead of the competition, you’ll be more likely to keep your job during tough times. Finally, always be professional and courteous to those around you. Making a positive impression on those you work with will help them remember you favorably if layoffs do occur.
In today’s rapidly changing economy, it’s more important than ever to be proactive about positioning yourself for success, both now and in the future. By taking steps such as strengthening the value you bring to your organization, diversifying your skill set, and elevating your professional profile, you can insulate yourself against potential challenges such as job loss or downsizing. What’s more, these same strategies will also help you to stand out from the competition and build a fulfilling career. So what are you waiting for? Start putting these ideas into action today and enjoy the benefits tomorrow.
* Statistics and information are from: https://www.cnbc.com/2022/06/09/recession-will-hit-in-first-half-2023-the-dow-is-headed-lower-cfos.html
