Oh Recession – Coping With & Finding A Job!

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It is not easy to find a job in good times. What should you do when jobs are scarce?

We are facing unprecedented testing times. With the global pandemic, every major economy is suffering from botched demands, and consumption has plummeted across industries. The IMF Chief came out in an interview stating that they are looking at a recession much worse than the one we faced in 2008-09. Being without a job is not easy and it can be very stressful during an economic crisis. So, there is just one question that’s hitting almost everyone’s mind i.e. “how to find job during recession”

It’s never easy to be unemployed but it’s got to be tough during a recession.

What advice do you have for someone who lost the job and now has to find a new job during this recession?

So first and foremost, what I like to do is tell people to focus on what they DO have:

  • Do you have any kind of savings?
  • Do you have any kind of support system?

Look at what you DO have, so that you can calm down. That’s step one. 

We understand that it is very tough with the situation around but positive outlook is necessary at the moment. Remember that the miracles of positive outlook would help you get through this.

Once you can calm down then you can look at your skills and say, “Okay, well wait, I’ve been let go at this particular company, is it the entire industry that’s suffering or is it just mine?”

So if it’s not the industry then I can start to look for jobs and other companies in my industry.

If it’s an industry-wide problem that’s a different story.

What you want to look for there is, “Wow am I good at this? Do I love what I’m doing?

Because of these moments, if you’re in a job that you haven’t loved for a long time and you’ve been let go, it’s an opportunity. It’s newfound freedom to focus on something that makes you passionate and you have always wanted to do.

It’s pretty normal to be depressed when you get laid off.

How would someone cope emotionally after being laid off?

Well, when you get let go from a job it’s a pretty serious and traumatic change that wasn’t instituted by you.

So, you want to recognize that feeling. That pit in your stomach, that sense of despair, that “What’s going to happen to me?”. Trust me this feeling is natural and unfortunately is part of the process. Fear, concern, anxiety is something you have to go through.

However, you will come out of that depth of despair into the opportunities where you can learn. Where you recognize, “Wait a minute, I’ve gone through this before!

I mean if you look at the economy and the situations, we’re in now 10 years ago in 2008-09, the economy with the Sub-Prime crisis, we had very similar problems with the recession which is not new in your career. Recognize that you’ve made it through these problems before and you will again.

But until you go through that feeling of anxiety at first, you cannot start to come out of it. See positive opportunities start to come out. Talk to your network and start to say “I’m looking for something like this, Can you help me?”

So, how can you find a job during a recession?

1. Seek out a mentor 

I recommend that people seek out for someone who can career coach them, who can help them identify their unique gifts and talents. They can leverage those in their career going forward because if you truly want job security you can’t rely on your boss to give it to you.

You can’t rely on your company to give it to you. You can’t rely on the economy to give it to you. But you can rely on yourself, and when you play to your strengths, i.e. when you do what you love, you’re going to be better at it than any other people.

2. Alumni network 

Another great resource that a lot of people don’t take advantage of is their alumni network that they have from their college or university. Alumni services today have recognized that they can provide career value. So, get back in touch with your university in the alumni services group. They can put you in touch with people for job opportunities or informational interviews. Or, you can find out about new and different careers.

3. News Paper ads 

You buy a morning newspaper and skim through the job ads page. You may find some good options there. Review all of them and apply them to the one that suits you the most. All you need to do is to make a call or send your CV. You can also post an add on the newspaper and wait for the employer to reach you.

4. Job Search Agencies 

Another great way could be to approach a job agency. Generally, they have a lot of opportunities for various backgrounds. In this time of high competition, you will succeed only if you are more persistent. If you are highly qualified with 2-3 yrs. of experience then, they may already have opportunities for you.

5. Directly approach employers 

With the emergence of platforms like LinkedIn, it is not very difficult to reach potential employers. The trick is to socialize and build connections for a day like this. You may also have companies in your mind you always wanted to work for. Make a list of them and visit their websites to know about opportunities if any.

We have an exclusive article just on Job Search Techniques that might come in handy! Go check it out!

What is the Number 1 mistake people make when they try to find a job during these hard times like recession?

The number one mistake that people make is saying, “I’ll take anything“. Most people say “I’ll take anything at this point it doesn’t matter I have to do what I have to do”. And when you talk to recruiters and hiring managers, that’s their worst nightmare.

How long will it take you to find a job?                           

On average it takes about 3 to 4 months in a good economy for someone to find a job. So if things are a little tough especially in your industry it could take longer. It can take six months, it could take a year, and again, I don’t say that to scare people. I say that for the folks who are planning for that downturn to be prepared.

But if it takes three to four months and you’re getting to that end of the four months saying, “You know what? It’s just not working, I feel like I’ve exhausted my network, I feel like I’ve exhausted all the opportunities in this area” then it may be time to look at moving to a new industry or a new area.

The one thing I will caution you about is that “just to move” is not the answer. Because if you move somewhere that you don’t want to live and you take a job that you don’t want to do, you’re not going to be very successful or happy.

So, you need to be very careful and still strategic about those moves. So that it takes you to a place that’s going to be better, more fulfilling, makes you happier and not in the opposite direction.

Conclusively, it takes a lot of courage to cope up with the negativities going around you and at the same time, it is important to be optimistic about the future. Introspect, be patient, and use your connections and you will eventually end up finding a job you desire. We are positive that you would have the job you deserve very soon. For you, we also have a few tips while joining a new job! Go check it out.   

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