How To Prepare Yourself For a Recession? servicebloggers.com

I personally have started to implement the steps given below, of course very few i can't follow. Even though i am sure that i have started to experience good results in my life. So, i don't want to be selfish  then decided to share and help others for having a prosperous life too.
A recession is defined as a period of temporary economic decline during which trade and industrial activity are reduced, identified by a fall in GDP in two successive quarters or more. The root cause of the matter is a recession can plunge the economy into a crisis. A recession can be caused by the slow downturn of the economy over time. Recession is one of the world economy’s greatest fears.

Recessions can result in productivity reduction, layoffs, off hire, bankruptcy, and a drastic increase in the unemployment. It took several years for the economy to recover from the great recession experienced throughout 2008 and 2009. stock market all over the world took a deep blood bath.

According to economy analysts, world is slowly but surely experiencing a turn-down and a recession can happen during & after year 2020. As a working professional, you must ask yourself; Am i truly ready for a recession? You must be prepared for any type of crisis situation that might hit your career. To prevent any unfortunate situations, take these four steps to ensure that you’re ready.

Market yourself as a Brand or create a brand

If there is a shortage in opportunities available within the organization, do your part by researching other potential opportunities and taking on courses that can help cultivate your current skills set. Market your skills and abilities by staying active on professional networks by keeping updated on industry news sharing your accomplishment and relevant information within your network.

Be proactive in your current position. Seek to involve yourself in as many projects and work assignments as you possibly can do. If you work harder than the next employee, you can very well avoid a possible layoff. Follow up with your director to update him/her on your accomplishments and allow yourself to receive constructive feedback in areas which you could improve.

Explore different tasks or opportunities to understand what it takes to keep the organization running smoothly. As a result of doing this, you are proving your value to the company as well as showcasing your talents. This can limit your chances of experiencing a layoff if a recession were to hit your industry.

Keep Your Resume Updated

Throughout your career, focus on keeping your resume fresh, up to date, and modernized, especially during times of economic uncertainty. More specifically, ensure that you are keeping up with your accomplishments and modifying your resume to reflect the significance of your current position. If a layoff is expected and a quick turnover is required, only slight modifications would be needed to fit the new role you would be applying to. This lessens the need to drastically update your resume and allows for a rapid job transition.

Keep your resume up to date by updating your role at your current position and focus on the impact you carry. Keep track of major projects, responsibilities, accomplishments, and outcomes from your involvement that will show your ability to succeed in any new position. In addition to updating the body of your resume, be sure to tailor your professional summary to match your current skills.

If you find that you have an abundance of positions. A good rule of thumb to follow is the length of your resume should not be more than one or two page. The key for effective resume writing is to show your recent and relevant experiences on top. On the other hand, add in any additional volunteer positions, internships, or appropriate side projects that you have been involved with, would be an add-on.

Focus on Opportunities for Professional Growth

When you have the new ideas, explore it, your mind opens up and grasps huge amount of knowledge due to the interest it creates. Have a mind set to search for opportunities and implement your plan. Take and engage in any opportunity you have to learn, whether failure or success. For sure you will get good lesson to improvise yourself.

If the opportunity present, attend meet-ups, conferences to learn new techniques that can be useful to your current position. At the very least, keep yourself updated by reading industry-related news, books, and magazines to maintain your sharpness and keep up with trends in the industry. Go after as many educational opportunities as you possibly can. In the end, it will greatly enhance your management, productivity and marketability skills.

Communication Even during no Recession!

One fundamental rule of thumb for career development is to never stop expanding your network of contacts. There was a common misconception that communication should commence during the time you are actively searching for a new vacancy. In fact you might never know there was a remarkable opportunity or you may pass by that period.

Your next possible career opportunity could exist within your current network of contacts. Communication presents itself as the most important and effective aspect of job searching. Always keeping your old network active opens up opportunity.

Take advantage of professional social media sites, Join industry-related groups through social networking sites such as Linkdin, Twitter and Facebook also attend trade shows and conferences. During your contractual period in your current role, take the time to connect with coworkers and superiors. Aside from keeping in touch with your current network of contacts, continuously seek other ways to build your current network too.

This pre measure helps us turn to our network to find opportunities that are available during recession. In many cases, companies seek for referrals from current employees before posting jobs to the public. With the help from your network, you are having a greater chance of landing your resume on the right desk.

No one wants to ever experience a recession or a layoff. If a recession is to hit the economy, keep your resume updated, build up your brand to boost your appeal, seek out as many opportunities as you can for your personal and professional growth, and engage in networking you build your current network of contacts and increase your chances of employment.