How to Secure your Job during Economic Slowdown

Economic Slowdown or should I say ‘Recession’, a more popular term, is the time when companies become stringent & particular about low performance or no-performance. To avoid getting axed during such rough times here are some ways one may consider:

1. Contribute more than what is expected. Usually, what you are doing may be an input into someone else's job. Hence, try to understand what is done by them. Add some of that to your job, so that helps the other person save some time and thereby making the team more productive. One may as well try and do a part of your boss' work that would be even better.
2. However if you are trying to do your boss’ job, that your boss gets the credit - and don't undermine his authority or make him feel insecure not to mention hurt his ego.
3. In doing so the entire concentration of an individual should be to do something that helps the organization to build business.
4. It is quite possible that you may not be able to do 3 in that case you need to know people who can do that for your firm.
5. What if you don't know such a large diverse group of people? Build your network.
6. What if you can't do the above? There is a way out if you are good in written communication and your company does not have a comprehensive presence online, given that scenario you can talk to the Marketing and Corporate Communications team to start a social media initiative for the Company. Of course, don't expect an additional payment for it. However, if you do get paid look at it as a bonus!!
7. If none of the above can be done then there is still a way out, try and be as creative as you can in discharging your current role - be an innovator and getting more out of less, this is the best skill in an employee whether it is in recession or during boom times.
8. Keep learning, sharpening and developing your skills. If your organization trains you nothing like that. However, if it doesn’t than take the self study route.

Hope these suggested ways would help you ride the recessionary wave rather than it drowning you!!

Contributed By:
Param Shah
(Asst. Registrar - Globsyn Business School, Ahmedabad)