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We are now in another cycle of worldwide economic recession. Ironically, this is not the first time we are going through it. Historically proven that every 3-10 years, the world will face some sort of economic recession and it is a known fact which many of us will forget as soon as we recovered from it. That is why many of us started to panic and worry about the stability of their job as if they have not gone through this experience before. For those with working experience < 3 years may experience it for the first time but rest assure there is always something can be done to adapt to this economic uncertainty. This is why I’m writing this article to share some tips on how to adapt successfully.

No doubt whenever a company faced an economic slow down, some actions will be taken to cushion the impact. One of the notoriously known actions is by workforce retrenchment or in another word workforce management. Unfortunately, retrenchment is a norm during bad times and at certain situation unavoidable.

Some giant companies such as Sony, Motorola, Toyota and many more may opt to workforce retrenchment or deployment packages through manufacturing site consolidation and supply chain optimization. The fact is whatever job you are having now is not secured. An ugly fact that we have to live with.

So what can you do as an employee to help your employer and also help yourself to retain the current job that you have now?

# 1

In whatever field you are in, the success of a company depends on how much money can be generated to bear the expenses and at the same time how much cash is left for the company to sustain for the coming future. Hence a key role for employee during this bad time is to grab opportunities to minimize expenses and at the same time maximize revenue. Be creative and innovative to proactively propose suggestions to your manager on how to run the operations in a different way that can optimize expenses and maximize revenue. Through this effort, you can also demonstrate your skill and knowledge including leadership qualities to your management team. Indirectly at the same time you are building your credibility on your importance to remain as an employee in the company.

 # 2

Talk to your manager and if possible talk to top leaders in the company on the company’s direction and actions to be taken to mitigate the impact of this economic slowdown. Understand clearly the rational for each of the actions taken so that you remain convinced that the company you are working now is able to sustain its competitiveness in the market during this bad time.

 # 3

Enhance your knowledge about your business by attending class room courses or exposed yourself to on job training by volunteer to expand your role. Even though business is slow but a dynamic company will take up the advantage of this slow economic downturn to expand the current markets and try out new markets with the available resources. Hence if you volunteer to expand your role, you are actually securing your job since the company definitely will need your expertise to capture the market once the economy rebounce.

# 4

Never ever give up hope on ways to secure your job. Even though you don’t have 100% control, but you have at least some percentage to secure your job. Your attitude and loyalty to your employer will be tested during this bad time and never ever lose your focus to do your very best to contribute to your employer. If you are still sceptical on your future, make the effort to confront your manager and get his honest feedback about your future. If your destiny leads you to a retrenchment package, plan early on your next actions to look for another job or for other alternative source of income through entrepreneurship. Just remember that there is always a blessing in disguise.

If you have your own experience to share, please feel free to drop your comments at below.

Till then,

Good luck in your endeavour during this economic downturn.

You can visit our HOT Jobs section to look for great opportunities to expand your working experience.

Regards

Yusoff