5 tips to stay ahead in slow job market

Whenever we hear that job markets are facing a down slide and a recession is about to hit us badly, a fear of psychosis immediately shakes us from nowhere. Loosing one’s job is the primary reason which creates a panic as it directly correlates with running his/her family in this overtly inflated market. It is a fact that all sectors may not reap its benefits during the times of economic slowdown and hence one has to be a bit more careful in living their lives economically than ever. We will thus discuss the way to look to forward in times of slow job markets and economic downturn;

1)  ‘Make hay while the sun shine’, this is an excellent statement which should always make us realize that when the job markets are up one should try to make their best moves at that point only. Waiting and leaving it too late would only mean that good jobs will be missed and security of our lives will be at stake. Along with this pay scale should always be a factor and thus proper negotiations should be made while one decides to move on from one company to the other.

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2)  During slow job market scenarios if one is unable to get a new job it is essential that he/she should not leave the present job even that requires him/her to work at a lesser pay scales.  This would also relate to working longer hours for the organization (if need be), speaking more often to seniors and make a conscious effort to be on the ‘good book’ of everyone which would help in negating the risk of losing the job at the worst scenario.

3)  Savings is another key area which most of us neglect during good economic conditions. When markets remain on the higher side one should not be a spendthrift and try to plan his/her life keeping the unforeseen future in mind. Another step to secure one’s life during slow market conditions are proper investments which needs to be made in various options (for e.g. fixed deposits, equity and stock markets, real estate businesses and government bonds) which would definitely yield good benefits during economic crisis.

4)  People should always opt for a secondary income keeping their primary jobs intact. This would definitely help individuals incase one loses his /her jobs. At present scenario we all have internet access at our homes, hence getting various types of work (data entry, freelance content writing, undertaking consultancies for MNC companies and working as assignment helpers for students) are genuinely easy and economically viable.

5)  During economic slowdown companies would always opt for heavy restructuring in various divisions and might think of shutting their business down thus enforcing lot of workers to accept voluntary retirement schemes famously called as “VRS”. To combat those scenarios one should plan their interviews in various companies with zeal, knowledge and gusto. Along with this one should always keep an eye on the whereabouts of their friends and colleagues so that they can apply to the same companies in case a vacancy occurs.