How to Keep Your Job in Economic Crisis?

How to Keep Your Job in Economic Crisis? Employees can gain a leading edge in an uncertain job market by following some guidelines. Considering the recent economic crisis the time has come for employees to develop their job hunting skills and review their career plans.

The crisis in the market and credit crunch will eventually hit the job market. As more number of employees will start looking for jobs (the resulting influx of so many people made jobless by the banking crisis) it will become more difficult for jobseekers to secure the right employement.

The markets which are immediately affected (by job cuts) are investment banking, financial services, and information technology (which depends majorly on banking). In such situation understanding the key requirements to get and keep a job is key will only ensure you an edge over others.

Existing employees have to position themselves positively in market. They have to learn how to play the cards and become indispensible even in the middle of a credit crunch. Making yourself indispensible will ensure that your are not given pink slip in the next round of job cuts.

Employees need to take some time and think on their career path to ensure that they understand:

(a) What is needed to survive in the current market

(b) What is my plan of survival

Even if the market outlook is bad employees can still make themselves ahead in the race so that they get a clear edge over others. They need to brand themselves to stand out in a competitive market to guarantee career success.

This will require not only doing the work but also keeping people who matter informed about your contribution.

If you feel that your job is not secure you may need to relook at following:

(a) What are my alternative employers?

(b) Same industry or a similar industry?

(d) Can I take a cut in my compensation?

(e) Shall I use this time to home my skills and go back to school?

(f) What I can offer a potential employer?

In the coming day we will write more on the subject of how to keep your job secure during the financial crisis.

All said and done – just remember "Tough times never last tough people do".

Hopefully, you will survive in this economic crisis.