Nowadays, inflation and interest rates are increasing rapidly and it seems more and more like a recession is coming up. Thus, people are frightened of getting laid off from their jobs.

(Recession is a period of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters)

The risk of layoffs is a concern for many employees, especially during times of economic uncertainty. Many people are thinking about how to avoid or protect themselves from layoffs. However, there is no a certain way to fully secure your job, while there are some steps to increase your job security or to reduce the risk of being laid off.

 

Have a unique skill among your peers

Although soft skills are always a good thing to have but are not enough. It’s good to have the skill of time management or the skill of leadership however; this will not keep you away from layoffs. You have to look for other skills you know that your company absolutely need. For example, if you're a graphic designer, having new graphic software knowledge may give your company an additional competitive edge over their competitors.

If you set yourself apart as the one person who's an expert in that area, your company might hesitate to spare you.

 

Keep learning and growing

Learning and growth never end, it’s a continuous process, and you can do this by seeking new experiences, opportunities and always challenging yourself to go beyond your comfort zone. Thus, it’s helpful to take some time to reflect on what you’ve learned and how you’ve grown.

 

Promote Your Achievements

Constant updates regarding your progress including whenever possible financial effects such as increased sales income, cost reduction…etc. Don’t expect your line manager or other executives will appreciate your work without any highlights on the latest progress from your side. Additionally, you can ask your clients or customers to write their praises down so you may give them to the appropriate people.

 

Keep up with Your Business Network

It’s not surprising that networking is a good way to help job seekers to find new jobs easily. However, many people find themselves networking defensively as they reconnect with contacts once they're out of a job and need help. Thus you have to make a point to stay in solid touch with your associates regularly as it's a lot easier to ask a favor of someone you're in touch with regularly.

 

Be prepared 

If the layoff decision is taken, prepare yourself to take some steps quickly. Distribute your CV and submit it to recruitment agencies' websites. It’s also good to have emergency savings in your bank account. Although it will not help you to avoid losing your job but will provide some peace of mind and you will be less pressured into taking the first job you find because you're desperate for money.

Finally, layoffs are not unexpected so don’t panic. They often occur when companies need to make some adjustments in response to market conditions and economic status. No one is predicting another great recession as the one happened in 2008. Yes some industries will be affected more than others but make sure that many companies will continue to hire.

 

If you’re looking for a new job you can submit your CV to our website and will take it into consideration for any upcoming vacancies that match your qualifications.