How to Recession-Proof Your Career

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How Does a Recession Affect Business?

Just as all economies enjoy periods of wild success, growth, and profitability, they also suffer recessions. Technically, a recession occurs when a country’s “gross domestic product” (GDP) declines for at least two straight 90-day quarters. The most important effect on employees is that this means reduced business activity. As you can imagine, reduceds activity typically results in reduced employee workforces.

As businesses see fewer sales and orders for products, they suffer reduced income and need fewer employees to produce their output. This cycle of reduction often feeds upon itself, resulting in further declines in sales, production, and employees.

Long-term recessions can have devastating effects on many companies. They have difficulty just staying in business with long-term sales declines and little need for extra staff. These situations affecting business often directly affect employees' chances of keeping their jobs.

Are There Recession-Proof Careers or Industries?

Depending on the length and depth of a recession, there are some careers and industries that are considered to be recession-proof. But there are no guarantees that these organizations will not suffer layoffs or reductions in the workforce. Experts consider them somewhat recession-proof because their basic “customer base” is not be affected to the degree of other businesses. Therefore, people employed in these careers typically are not affected to the degree that other workers are. Here are a few examples of classic “recession-proof” industries and careers.

• Education. Children and adults always need access to education at all levels. Therefore, teachers and professors tend to suffer little during typical recessions. Sometimes enrollment even increases as more people have the time to further their education since their employment commitments have declined.
• Health Care. Regardless of the state of the economy, all people still need health care. Doctors, nurses, pharmacists, laboratory techs and other medical employees are still needed in large numbers.
• Government. While there may be cuts in local, regional, or national government employees, or, at least, hiring “freezes”, all governments need a base of employees to keep operations moving. Even a deep, long recession will usually not cripple government’s ability to function since it must still deliver services.
• Law Enforcement and Security. Not only does crime continue during recessions, sometimes the incidence of criminal behavior increases. A percentage of the people losing jobs, homes, cars and sources of income sometimes turn to crime to “balance their budget”.

How to Recession-Proof Yourself

You must be aware that even if you already work in one of these so called “recession-proof” industries, most of these entities will still experience budget pressures and may have to make hard choices regarding employees. You should make every attempt to make yourself a recession-proof commodity. Here are some ideas to accomplish this goal.

• Be pro-active and keep all options open.. The sad reality of a prolonged recession is that many productive and high-performing employees may still be downsized because of reduced company income. Train all of your senses on potential job opportunities. Use one of the top employment search firms, like Kelly Services, to act as your eyes and ears. They know of opportunities that you’ll never see advertised or promoted.
• Market yourself at your current company. This is no time to be shy. Promote your accomplishments, creativity, dedication, and motivation to excel at your job - and for your employer. When a deep recession hits home, companies sometimes lose perspective and see only the “numbers” – decreasing income, high salaries, large benefit costs, etc. You must try to establish yourself as one of the top employees, someone who's too valuable to be downsized.
• Volunteer to take on extra duties. While reducing staff may save money on paper, job duties and responsibilities must still be upheld. Instead of waiting for your supervisor to deliver the bad news that your job description has become more complex, volunteer to take on extra duties. Often, this action immediately enhances the perception that your are a valuable resource that should not be cut.

It is impossible to completely recession-proof yourself, but you need to control those items that you can. By remaining open to new job opportunities, making it clear to management that you are a high-performing employee, and volunteering to take on added responsibilities without a corresponding compensation increase, you may establish yourself as an untouchable company resource.

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