Source | Linkedin | Sue Bhatia | Founder and Chairwoman
I’ve noticed lately that the news has been full of stories about an impending recession. While economists can’t prove precisely when a recession is coming, there are several economic indicators that could point towards a recession. As a leader in the staffing industry, I have to prepare for recessions as well. During the last recession, U.S. staffing declined by 28% before the recession began. I endeavored to be adaptable in the face of change, and molded my decision-making process to address the realities of the Great Recession. While U.S. Staffing did decline for a brief period of time, it was one of the first industries to bounce back as companies cautiously began to hire again. The 2001 recession operated under a similar pattern in my industry.
Recessions are a natural part of our economy. They are like a forest fire. The fire is initially uncontrollable, but afterwards the grey ash rejuvenates the Earth, and sows the seeds for great abundance in the future. Recessions can be a time to reinvent yourself. Slow periods can be an opportunity for us to reskill in our careers and invest in our future. Just because a recession may be coming doesn’t mean that that your career is in jeopardy. No matter the economic situation, if you remain flexible and maintain a high emotional intelligence, you have the ability to go with the flow. Here are some tips to ensure your employability during a recession: