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4 Career Planning Steps to Recession-Proof Your Career

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As sure as the sun rises every morning and sets every evening, recessions in a global free market economy are simply part of reality.

Financial news website, Kiplinger, reports that America has gone through a recession every three-and-a-quarter years, on average, since 1857.

Career planning can help you maintain job security and peace of mind whenever an inevitable recession strikes.

The flexible degrees and certificate programs at the Tulane School of Professional Advancement (Tulane SoPA) can equip you with the skills and tools you need to ride the waves of a constantly fluctuating economy.

Career Planning Step 1: Develop Recession-Proof Skills

According to Insight Global, 73% of the American workforce says the fear of a possible recession has motivated them to focus on upskilling in order to enhance job security.

Like a knight sharpening their sword before battle, working professionals must develop new skills in order to increase their career options.

If you want to remain secure in your job despite an economic recession, then you must nurture skills that are always sought after. These skills range from mastering the Microsoft Suite to critical thinking and communication.

Cultivating a wide range of applicable skills across many different industries increases your chances of remaining competitive even during a downturn in the job market.

Soft skills

Even if your industry is affected by a recession, employers will still be looking for candidates with strong soft skills that allow you to adapt in your company.

Examples of soft skills that are a must no matter your career path include:

  • Good communication skills
  • Problem-solving
  • Adaptability and flexibility
  • Time management and organizational skills
  • Leadership and teamwork capabilities, and
  • Critical thinking skills

If you feel you lack these skills, an online career development certificate can help give you more flexibility in your career choices across multiple industries.

Transferable skills

An essential part of career planning for high school students, college students, and working professionals, developing transferable skills gives you the flexibility to change occupations if your current industry is struggling during a recession.

Transferable skills are any abilities or talents that can be transferred from one job to another. Transferable skills can include soft skills, but they can also include hard skills or learned skills that allow you to carry out a specific job function.

A few transferable skills that will make you a good fit for any new job include:

  • Computer literacy
  • Microsoft Office and Google Suite proficiency
  • Website building and development
  • Project management.
  • Financial analysis or budgeting
  • Data analytics and market research
  • Presentation skills, including public speaking or writing, and
  • Process improvement and streamlining

Since many of these skills are applicable across industries, having them on your resume and in your toolbox can give employers assurance that you will be able to adapt quickly and hit the ground running in a new field.

Tulane SoPA offers career planning support that can help you gain the professional skills necessary to fit many different job descriptions. Work with our expert faculty of career counselors to broaden your career options.

Career Planning Step 2: Stay up to Date on Industry Trends

Keeping your finger on the pulse of your industry can help you ensure that your skills and qualifications remain relevant and valuable.

Keeping up with changes in technology, trends in customer preferences, or new laws and regulations will help you stay one step ahead of the competition.

Spend time reading magazines or blogs specific to your industry. If you're not much of a reader, listen to podcasts or short YouTube videos that can give you insight into the latest changes in your field.

Additionally, researching career options within your industry can help you learn about jobs that may not have existed previously but now could offer career opportunities and stability.

By continuously updating your career plans with current information, you can ensure that you are always prepared to take advantage of new career opportunities as they arise.

Career Planning Step 3: Utilize Networking

Yes, even in the age of working from home, networking is still an essential part of career planning.

Developing and utilizing a wide range of professional contacts can help you:

  • Stay connected with current colleagues
  • Get in touch with new contacts who may have opportunities that fit your skillset, and
  • Uncover job openings you didn't know about

An easy way to start building your professional network is to develop good relationships with your colleagues.

Plan to attend career development events or join online networks related to your industry or career field through platforms such as LinkedIn.

This will give you the opportunity to meet and connect with people beyond your immediate professional network who can provide insight, advice, and resources that could be useful in finding a job during tough economic times.

Establishing valuable relationships can bring your work to the attention of potential employers and open doors through referrals — you'll appreciate the extended network of contacts you have if you are ever in the market for a job again.

Career Planning Step 4: Distinguish Yourself With an Advanced College Degree

Completing a master's degree can help you stand out in a competitive job market and make you more attractive to potential employers.

No matter your career path, an advanced college degree equips you with knowledge and tools that make your job search more flexible after you graduate.

If you are not a traditional college student and are working full-time, an online accelerated master's program can help you earn your degree without putting other parts of your life on hold.

The Career Planning Experts at Tulane SoPA

No matter your current career outlook, there may come a time when a recession leads you to a difficult situation.

Tulane SoPA is dedicated to helping traditional and non-traditional college students alike reach their long-term career goals and maintain job stability.

Whether you're interested in an online bachelor's degree or need assistance with career planning, the career counselors at Tulane SoPA can help you reach your fullest potential.

Apply today to learn more about our industry-focused career planning resources.

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