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Career Mistakes People Make During Economic Downturns

Career Mistakes People Make During Economic Downturns

Author: Laurie Knafo/Tuesday, June 16, 2020/Categories: SNI Companies, SNI Financial, SNI Certes, SNI Technology, Accounting Now, Staffing Now

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While the country continues to open back up after COVID-19, there is no doubt it will take some time before the economy and job market is back to what it was pre-pandemic. The US employment report for May shocked many as we saw the unemployment rate fall to 13.3% (from its previous 14.7%), as the economy gained 2.5 million jobs. While it’s hard to say what will happen in the coming months, I think most agree the job market will take time to fully recover. During economic downturns there are some common career mistakes people make and below we address those and strategies to continue to move forward with your career during these times.

Pretending Your Job is Untouchable
If you are fortunate, and your job wasn’t impacted in the last couple of months, you may think you’re out of the woods. While it’s comforting to think that your position is untouchable, the pandemic has blindsided many with the opposite. We have seen solid roles that people had before the pandemic cut completely or furloughed. It’s better to be prepared now for a layoff (even if that isn’t an immediate threat) then to be shocked and not ready should that happen. So what are some things you can be doing now, just in case? Simple things like updating your resume and LinkedIn page, getting recommendations for said LinkedIn page, and continuing to network (even virtually). Taking steps now, even if that leaves you over-prepared, is a better strategy then panicking later on if you unexpectedly lose your job.

Losing Focus of Your Career Goals
While it’s important to be prepared should you lose your job, it’s equally, if not more important, to continue to focus on your career goals and dreams. In last week’s blog we talked about not losing sight of your long-term goals and continue working towards them even during these uncertain times. It can be challenging to remain positive during an economic downturn but by working towards your career goals you’ll feel empowered knowing you are progressing towards that vision for yourself.

Assuming No One is Hiring
Just because we are in an economic downturn, don’t make the assumption there aren’t companies hiring right now. While there have been massive layoffs in the last couple of months, there are also companies such as e-commerce, technology and healthcare that have experienced growth and expansion. If you are unhappy in your job, or need a new role to continue your career growth, take a look at what’s out there, speak to a recruiter, and explore your options.

We remain hopeful that the unemployment rate will continue to drop and we will eventually get back to a “new normal”. Although the above tips are helpful during an economic downturn, they are also applicable at any time.

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Laurie Knafo
Laurie Knafo

Laurie Knafo

Laurie Knafo is Regional Vice President for SNI. Her 30+ years in the recruiting business enable her to bring insightful counsel to companies and candidates looking to make the most out of their staffing relationships.

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Full biography

Laurie Knafo is Regional Vice President for SNI. Her 30+ years in the recruiting business enable her to bring insightful counsel to companies and candidates looking to make the most out of their staffing relationships.

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