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Instead Of Worrying About A Recession, Do This Instead

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It doesn’t matter if the United States is in a recession or not. The Federal Reserve Bank chair Jerome Powell, U.S. Treasury Secretary Janet Yellen and President Joe Biden have all weighed in: America is not in a recession, and is headed for a more robust economy.

The current administration needs to make Americans feel confident that although the U.S. may be mired in a bad situation, the country is headed in a more positive direction. The longtime, standardly held definition of a recession is two consecutive quarters of contracting growth. If the Fed, treasury secretary and president all offered a present and future of lower expectations, including continued high inflation, a recession and job losses, businesses would pick up on their lead and engage in massive cost-cutting initiatives to remain solvent.

The current climate is far different than past recessions. Usually, recessions have high unemployment rates. The U.S. is at full employment with a record-low unemployment rate of 3.6%. Businesses are begging for workers. There are over 11 million jobs open.

Also, consumers are spending despite the higher prices. In a recession, it's reasonable to expect families to curtail their expenditures. Instead, restaurants, bars, airports, hotels and in-person events are packed.

Why It Doesn’t Matter

It’s the job of Wall Street experts, economists and politicians to prognosticate stubbornly high inflation, a possible recession and layoffs. Tune them out, as it doesn’t matter. You don’t have control over these global macro events. The one thing you have is the ability to manage and drive your own career.

It would be naive to think that the litany of woes, such as supply chain disruptions, inflation eating into your paycheck and savings, an endless war in Eastern Europe, constant political in-fighting and a steady flow of announced downsizing, won’t impact your job and career. Despite all the obstacles, you need to block out the noise and look out for yourself.

What You Need To Do Now

Tune out the negative and take a good, hard look at your job, career and the company you work for. Research the financials of your organization. Search online for any developments that could negatively impact your company’s products and services. Request a meeting with your boss. Ask them to share what is going on with the organization. Delve into questions about the possibility of layoffs, hiring freezes and allowing attrition without replacements. You want to know the company's financial shape and whether or not it can withstand the current challenging environment.

If you sense that your future within the company won’t be too rosy, take immediate action. Put together a résumé and complete your LinkedIn profile. If you’re not sure what to do, reach out to professional career coaches and résumé writers who can do it for you.

Get In Touch With Recruiters

Contact recruiters for assistance. Not all headhunters are the same. Some are contingent, meaning they only get paid by the company if they make a placement. Retained recruiters primarily focus on C-suite and top executives. Staffing firms generally deal with contract and gig workers. You need to know the differences, so you won’t get offended if a retained recruiter ignores your reach out. You’ll have a better outcome if you find a search professional who focuses on your specialization. The recruiter will intuitively understand what you do, without needing a lengthy explanation. Inquire if the search agent has long-standing contacts with hiring managers, human resources and internal, in-house talent acquisition professionals. Good recruiters will have insider knowledge about the people, corporate culture, the type of applicants they tend to hire, salary ranges, bonus expectations and future internal-growth potential. Experienced headhunters have negotiated salaries for years, and can relieve you of this unpleasant exchange.

Seek Out Job Leads Through Your Network

One of the best ways to find hidden jobs that aren’t posted online is through networking. The term “networking” tends to have a negative connotation for many people. Put this aside. You want to tap into the people you know and trust for job leads.

Make a list of friends, family, neighbors, folks from groups and organizations you’re involved with, colleagues, former co-workers, college alumni and others who could potentially help you. Let them know the type of job you desire, a target list of companies you want to work with and the approximate compensation and title you're interested in.

Asking for a favor can be awkward. Depending upon the closeness of the relationship, make a phone or video call, invite the person for a coffee, drinks or dinner or simply just send an email. Be honest and direct about your intentions. Keep in mind that it's less uncomfortable than being unemployed or stuck on a sinking ship without options.

Engage On Social Media To Gain Attention

Another act that requires you to get out of your comfort zone is getting involved with social media. Depending upon your job and career, seek out relevant social media platforms. LinkedIn is an excellent way to start if you are a mid to senior-level, white-collar professional. Send invitations to people who may have access to the jobs you desire. Respond to posts from leaders in your space to attract notice. Write your own content to stand out as an expert. For those in between jobs, it's acceptable to place the #opentowork banner on your profile. However, this one act isn’t enough. Explain why you are seeking a new role and concisely share the responsibilities you held at your last couple of jobs. Be sure to indicate what you want to do next. By doing this, recruiters, HR and others can understand what you’ve done and what you are now looking for.

TikTok and Instagram are go-to sites if you are young and starting your career or work in a creative field. Twitter is a valuable medium to share your expertise and wisdom, attract an audience and let them know about your search efforts. Join job-seeking groups on Facebook. Let your connections know that you are embarking upon a job search and need their advice, guidance and access to leads.

Stay Positive And Manifest Your Bright New Future

The goal is not to let yourself get overwhelmed by all the dire events. It's easy to succumb to the never-ending barrage of negative news. To combat the doom and gloom, make a practice of staying positive. It won’t be easy. Throughout the day, think of something that worked out well. Have gratitude for all the good things in your life. Beat back ruminations over past failures. Have several mantras to repeat internally when you need a pick-me-up. Try manifesting getting the job you want. On the more concrete side, enroll in online courses that could provide the knowledge, skills and credentials that may help you stand out against other job applicants.

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