Have you heard? Our economy is not doing great. One cannot pick up a newspaper, read a website or hear a broadcast without stories about how the downturn in the economy is effecting everyone from Washington to Wall Street to Main Street.
People are scared. Businesses are assessing their credit availability and are avoiding making any large decisions until the first of the year. Hiring is slowing in many areas. Consumers are nervous about making big purchases, too, as they conserve cash - there is less money for businesses (vicious circle). Wall Street and Main Street are linked. The near-term outlook for everyone is bleak (I say "near-term because we should never forget that every down in the economy is eventually follow by an up-tick!) as everyone from the person on the street to our political and business leaders look for solutions.
So what does this have to do with networking? EVERYTHING.
If you want to recession proof your career you must have a network of personal and professional contacts who know and support you. Waiting to network until you are laid off or in need is a horrible strategy to protect your future.
All opportunities come from people. While a simple statement, it is one you must take to heart. If you lost your job tomorrow would you know where to start your search for your next career? Statistics show that most jobs are filled (directly and indirectly) through contacts. If your network is limited, you ability to discover opportunities is limited as well.
If you are concerned about how the economy might effect your future it is time for you to assess you commitment to networking. When you are in need and you approach people to build a relationship it is clear that you are in the game for your own reasons. However, when you are not seeking help and you establish a mutually beneficial long-term friendship, the other person will be there for you instinctively if your career gets sidelined. You will not need to sell yourself to others who already know about your unique talents.
Which of the following people would you naturally be more likely to want to assist?
1. You get a phone call from a friend-of-a-friend whom has been out of work for three months. You have never heard of this person, but she is aggressively seeking to get on your calendar to "network". When you meet with her she seems desperate for a job, and tells you all her woes about her former employer and how she did not see the lay-off coming. She tells you all about her financial situation and how she got a less than standard severance package that is not going to last much longer. Her resume is nice, but nothing in the written word stands out or makes you say "WOW". You know nothing more about this person than what you learn in your 45 minutes together in a Starbucks.
2. You get a call from a business associate whom you have known for two years. She has sent you several referrals and you see her regularly at the local business and civic events that you attend. She is always cheerful and enthusiastic, and people around town speak highly of her commitment to her chosen career. The company where she worked just closed down, and she is calling you to tell you about her job search and ask you for advice. You know first hand that she will be a great catch for any company, and that she will make you proud if you recommend her to anyone in your network.
Duh? Number 2 will have the power of her network, and yours, working for her. The first person will get a courtesy cup of coffee with several people, but very little help from folks.
Now, whom would you rather be if you are a victim of the bumpy financial times?
If you are not already a champion of developing a large circle of influence, do not wait until it is too late. Your network is MORE important than ever!!!
Written by Thom Singer
Tuesday, December 30, 2008
Sunday, December 7, 2008
Recession Proof Careers
I was searching the internet and came across this article by Larry Buhl, for Yahoo! HotJobs and thought that it was so appropriate based on the dissapointing unemployment rates coupled with the recession.
A steady stream of discouraging economic news is bringing with it talk of the dreaded "R" word. Economists at Merrill Lynch and Morgan Stanley say the U.S. is heading for its first-blown recession in 16 years, and a recent CNN poll found that 57 percent of the public believe the U.S. is in a recession already, with the economy topping the list of voter's worries.
A recession could hit some job-seekers hard. "A lot of people won't have the luxury of going for their first choice in a down economy," said Sophia Koropeckyj, an economist at Moody's Economy.com.
However, many employment sectors are expected to remain strong despite a possible recession, and job-seekers may have more success if they focus on recession-proof professions.
The Bright Spots
John Challenger, CEO of outplacement firm Challenger, Gray and Christmas, told Yahoo! HotJobs that careers in the following fields may offer a good chance of weathering a storm this year.
* Education. The U.S. Bureau of Labor Statistics has historically shown teaching to be relatively recession-proof. But demographics are important: High-growth areas like the Sun Belt offer much better prospects than the Rust Belt.
* Energy. "This is a major issue for the global economy, and jobs related to oil and gas, alternative energy and even nuclear are likely to see strong growth," Challenger said.
* Health care. Almost half the 30 fastest growing occupations are concentrated in health services -- including medical assistants, physical therapists, physician assistants, home health aides, and medical records and health information technicians -- according to the U.S. Bureau of Labor Statistics.
* International business. "If you have a strong knowledge of other cultures, and an ability to work in another country, you'll find plenty of opportunities," according to John Challenger. "If you're first generation Chinese, with business skills and Chinese language skills, you're in good shape.
* Environmental sector. There is a huge and growing industry geared to combat global warming. "Not only will professionals with skills in sustainability issues be in demand through the end of the decade, we are likely to shortages of professionals with 'green' skills," said Rona Fried, president of sustainablebusiness.com, a networking service for sustainable businesses.
* Security. "Crime doesn't stop during a recession, and police officers, port security specialists and international security experts will continue to be in demand," Challenger emphasized.
Other Sectors Feel the Slump
Koropeckyj and other economists agree that many troubled industries will feel the pain from the deflating housing bubble.
"The housing slump will touch anything related to housing, from real estate to investment banks, to engineering and architecture," Koropeckyj said. Though public sector jobs grew at a fast clip in the last five years, state and local government jobs are likely to slow as home values, and, consequently, tax revenues, sink.
The housing slump could even extend to industries dependent on discretionary spending, like restaurants and retail, she indicated. Manufacturing, too, long in dire need of an upswing, is likely to keep waiting for one through 2008, Koropeckyj said.
A steady stream of discouraging economic news is bringing with it talk of the dreaded "R" word. Economists at Merrill Lynch and Morgan Stanley say the U.S. is heading for its first-blown recession in 16 years, and a recent CNN poll found that 57 percent of the public believe the U.S. is in a recession already, with the economy topping the list of voter's worries.
A recession could hit some job-seekers hard. "A lot of people won't have the luxury of going for their first choice in a down economy," said Sophia Koropeckyj, an economist at Moody's Economy.com.
However, many employment sectors are expected to remain strong despite a possible recession, and job-seekers may have more success if they focus on recession-proof professions.
The Bright Spots
John Challenger, CEO of outplacement firm Challenger, Gray and Christmas, told Yahoo! HotJobs that careers in the following fields may offer a good chance of weathering a storm this year.
* Education. The U.S. Bureau of Labor Statistics has historically shown teaching to be relatively recession-proof. But demographics are important: High-growth areas like the Sun Belt offer much better prospects than the Rust Belt.
* Energy. "This is a major issue for the global economy, and jobs related to oil and gas, alternative energy and even nuclear are likely to see strong growth," Challenger said.
* Health care. Almost half the 30 fastest growing occupations are concentrated in health services -- including medical assistants, physical therapists, physician assistants, home health aides, and medical records and health information technicians -- according to the U.S. Bureau of Labor Statistics.
* International business. "If you have a strong knowledge of other cultures, and an ability to work in another country, you'll find plenty of opportunities," according to John Challenger. "If you're first generation Chinese, with business skills and Chinese language skills, you're in good shape.
* Environmental sector. There is a huge and growing industry geared to combat global warming. "Not only will professionals with skills in sustainability issues be in demand through the end of the decade, we are likely to shortages of professionals with 'green' skills," said Rona Fried, president of sustainablebusiness.com, a networking service for sustainable businesses.
* Security. "Crime doesn't stop during a recession, and police officers, port security specialists and international security experts will continue to be in demand," Challenger emphasized.
Other Sectors Feel the Slump
Koropeckyj and other economists agree that many troubled industries will feel the pain from the deflating housing bubble.
"The housing slump will touch anything related to housing, from real estate to investment banks, to engineering and architecture," Koropeckyj said. Though public sector jobs grew at a fast clip in the last five years, state and local government jobs are likely to slow as home values, and, consequently, tax revenues, sink.
The housing slump could even extend to industries dependent on discretionary spending, like restaurants and retail, she indicated. Manufacturing, too, long in dire need of an upswing, is likely to keep waiting for one through 2008, Koropeckyj said.
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