How to Keep Your Employment Chances During the Economic Crisis

Published May 7th, 2020 - 03:00 GMT
How to Keep Your Employment Chances During the Economic Crisis
Millions of people have already reported losing their jobs and the fate of millions of other workers continue to be in limbo. (Shutterstock)

There is no doubt that the whole world will have to cope with hard living conditions over the next few months, if not the next few years.

Containment measures aiming to stop the spread of COVID-19 have unfortunately left the global economy at a very vulnerable position. Thousands of corporations have been closed for weeks in different parts of the world to keep the workforce safe from the pandemic.

Additionally, the future of several business sectors has been particularly threatened by long-term losses, whether because of prolonged closures, international scope, or the fact that they are non-essential fields. This resulted in mass layoffs and leaving the fate of millions of other workers in limbo.

According to the latest data provided by the International Labor Organization, about "1.6 billion workers in the informal economy – that is nearly half of the global workforce – stand in immediate danger of having their livelihoods destroyed."

It's crucial at this time that people project extreme flexibility to cope with the new reality, no matter how hard it's become. In fact, the harder the reality gets, the more flexible individuals need to be.

Looking for jobs will be more challenging than ever, as millions of people with a wide variety of skills and expertise are competing for a very limited number of vacancies. Yet, what matters at the end of the day is that people can put bread on the table.

Consequently, individuals interested in maintaining their employability during such hard times, need to think differently when it comes to job opportunities.

First of all, it's okay to take a step or two backwards.

Having secured a great job with decent pay over the last years was great. Growing your professional skills and advancing your career path would be awesome, but if this wasn't an option, don't hesitate to apply for a less-paying job. Making some money now is way better than not making any at all.

Take some time to study the shifts in the job market where you live. Maybe the construction business is struggling at the moment in your country, but agriculture could be boosting. 

Accordingly, try to assess your own skills to spot the ones you need to develop or sharpen in order for you to land a job in one of the newly thriving businesses. Whether it's a new software you can learn to manage, a new language, or a communication error you can fix, your acquired skills are the most important tool to land the job you want.

Also, keep your options open. Take this as a chance to explore job opportunities in other industries you haven't worked in before. Having been a great tour guide means you've got the needed communication skills to become a customer agent. 

Finally, look for similar-minded people with whom you can start your own project. If you have the skills but your savings aren't enough for your future enterprise, you might find people who lack your set of skills but own the needed money for a proper investment. LinkedIn can be a great platform to engage in business discussions and investment prospects.

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