Recession Necessities

There is no time like a recession to get your house in order. In lean times, everyone must trim the fat, cut back and keep the budget balanced. It does not matter which cliché you use, the bottom line is that we all have to spend less and spend wisely.

Just like individuals, companies large and small are governed by these rules of recession. As sales and/or investment earnings decrease, the need to minimize expenses increases. Many companies have taken this recession as an opportunity to identify the bloated expenses in their budget. Payroll is frequently the first place that is tagged as a bloated expense. We hear announcements of layoffs, job cuts and reductions in workforce daily. While this process is essential for many businesses to survive in a down economy, this news can be devastating for a person in the job market. If you have been laid off, it is now your job to turn that devastation into strategic action.

Here are some key points to keep in mind as you manage a job search in these tough times:

• It is important to remember that while a company may be reducing the quantity of people on staff, their need for quality talent is higher than ever. Companies are looking for the people who can assist them through this recession. This is good news for a person who is looking for a job, as companies are willing to look outside their current workforce to find high-quality individuals who can help get them sail through rough waters.
So, your job search strategy should be targeted to companies and positions where you know you can be of great benefit, and your outreach to those companies and hiring managers should contain many examples of how you bring immense quality and productivity to a potential employer.

• While the economy is slow, it is not at a complete standstill. There are still job opportunities in the market. A job searcher must remain open to all possibilities, networking more broadly and ensuring that they are constantly promoting themselves with everyone.

• Your promotional materials (like your resumes, cover letters, e-mails, etc.) should clearly identify your strengths, differentiating you from others in your field. Throughout the entire job search process, an individual must consistently convey their unique skills and ideas that will be of great benefit to the prospective company.

• Not only is it important to communicate your advantageous qualities, it is crucial that you believe that all the positive things you are saying about yourself are true. Looking for a job is mental; it is all about attitude. The people you are in contact with during your job search can sense if you are feeling negative or hopeless. If you think you won’t find a job – you won’t.

Remember, regardless of the state of the local, national or global economy, you are in charge of how you spend money and how you make money. A recession doesn't mean that employment opportunities are gone. It simply means that you have to look for them differently and more diligently.