The Great Recession Is Coming. Are You Ready To Save Your Job In 2022-23? | Rozgar.com

Category: Technology

What is economic recession? Technically, a recession happens when there is a negative decrease in the GDP in two consecutive quarters. Right now, developed nations like the USA and the UK are experiencing the effect of recession. Daily, there is news about mega companies laying off a big chunk of their workforce. Even on an official note, the Business Cycle Dating Committee of the National Bureau of Economic Research (NBER) has officially declared a global recession. According to the KPMG report, more than 1,300 CEOs at large companies globally 91% of CEOs believe there will be a recession upcoming in the next 12 months. There is a lot of uncertainty in the financial future of the world, and everyone has the same question, is there a recession coming in India or what to expect from the impending recession? But what one should know is that is there any way to secure a job during the economic recession mentioned below. Be Paramount In a period of economic downturn, you do not stand a chance if you can not stand out from the crowd. Earn the knowledge that others can’t beat, because even in the recession, employers hold onto employees they can not afford to lose. Remember that tough times do not last, tough teams, do. Being dependable workers with a wide range of skills and communication enhances the chance of making your way through the company layoffs. Step Up Your Game Time is of the essence, and there is no room for procrastination. India is already feeling the impact of the first wave effect of recession and it will not be too long before every company starts their mass layoff. Here the concept of ‘its never too late’ does not apply, so secure your job with promises to show up on time and meet the deadlines. Like every relationship, your connection with your company is all about commitment. Show your actions before dropping employees even crosses your company’s mind. Words of the wise, it never hurts to add a little extra to your plate, it is the small actions that will help you get through the storm. Try Avoiding Remote Jobs Even though the pandemic has shown a tremendous change work environment and a drastic increase in remote activity. A survey has shown that 60 per cent of managers believe that remote workers would probably get laid off first. Another study from GoodHire shows that 8 in 10 remote employers think they are more prone to lay off than those working from the office. So, commuting to the office might burn your motor bills but it is better than no bills to pay for anything. In the time of economic recession, let’s throw work from home out of the frame and engage yourself in the on-site location. This will make you have better connections with your supervisors and make them notice your contribution to the betterment of the company.