Introduction
We all believe that recession is a really scary word. Whether it is prevalent in the economy or will occur soon, it's certainly not an experience one would like to add to their list of experiences in life.
Usually, when people talk about recession, the discussion includes terms like layoffs, firing, job loss, etc. If you are in the job sector, how do you keep your job when there are talks of dismissal or termination?
Do you think your job is safe in times of economic downturns like a recession?
Although there is no such thing as assured employment, you can increase your chances of finding work in a down economy by acquiring and honing recession-proof skills.
Recession: A Brief Introduction
The National Bureau of Economic Research (NBER) defines a recession as a significant decline in economic activity spread across the economy, visible as production, employment, and various other indicators.
Recession may also mean the period between when an economy is at its peak of economic activity and when it reaches its bottom. And, this occurs when there is an external trade shock, a natural disaster (large-scale), adverse supply shock, an economic bubble burst, or even a pandemic like COVID-19.
So, people with jobs need to develop skills that will withstand the wrath of hard times like a recession. We discuss the main ones below.
Some Noteworthy Recession-Proof Job Skills
Whether the economy is booming or in a tailspin, we need to always be working to improve our skills so that we may advance in our chosen fields. Jobs aren't immune to economic downturns, but certain skills certainly are. Let's have a look at them:
- Transferable Skills
Transferable abilities are the most valuable arsenal pieces you can have. These skill sets are highly transferable and applicable in a wide variety of jobs and organizations. Because they demonstrate your ability to complete a task or solve an issue without prior experience with the specific context in which you will be applying your skills, transferable skills are more valuable than your job title. They are the gold standard of recession-proof abilities in the workplace. The ability to adapt your current set of skills to unfamiliar situations will set you apart from the competition and make you an invaluable asset to your team.
- Soft Skills
It has been said that technical competence and knowledge account for only 15% of your professional success. The term "soft skills" refers to a set of abilities that have nothing to do with technology but are nonetheless crucial to your success in the workplace. Some examples of such abilities are the capacity for effective communication and the ability to interact well with people.
Since you and your coworkers probably have similar technical talents and knowledge (after all, that's how you both obtained the job), you must have strong interpersonal abilities. Therefore, the interpersonal skills you possess will be your competitive edge. It doesn't matter what industry you're in or what job you have, having strong soft skills is essential.
Communication, negotiation, leadership, imagination, organization, efficiency, motivation, and networking are all examples of important soft skills. Are you a good negotiator who can represent your interests and those of your team? Do you have the communication skills to get things done? Do you have the ability to work alone and manage your time well?
The success of a team and the company as a whole depends on each of these factors, so managers prioritize them when hiring new staff.
- Technology Skills
Being technologically literate is crucial in technology's competitive employment environment. Doing so in a time of economic hardship will demonstrate your worth to your current company and increase your marketability to future employers. Get acquainted with Slack, Asana, and Trello, some of the most popular tools for team communication and organization. Gain expertise in web development by studying code, working with a CMS, or developing new skills.
Along with these skills, you also need to develop a recession-proof career plan, and the following points may help you do that.
Ways to Build a Recession-proof Career
The following are some of the most trusted ways to make your career a recession proof one:
- Increase and enhance your academic qualifications: One of the most effective strategies to advance in your chosen field is to further your education. In addition to enhancing your employability, taking a postgraduate course or obtaining a certification from a reputable institution (For e.g: Skillslash) will enrich your life by introducing you to interesting new people and providing you with insights into your personal goals and passions. Motivated individuals who are eager to take on new challenges are highly sought after by employers.
- Be more involved in your community: Strengthen your knowledge and connect with more people. Explore opportunities to connect with others while making a positive impact. Doing so can attest to your ability to work through challenges and persevere as part of a group. In addition, it can show prospective employers who you really are as a person.
- Be adaptable to change: Don't be afraid to make a career change if it means a more secure future for you. Jobs in the medical field, specialty care, therapy, counseling, law enforcement, public utility, IT, technology, and education are just a few examples.
- Work on self-awareness: Last but not least, always be cognizant of your environment and your capabilities and limitations. You can better appreciate your value to your employer if you have a firm grasp on who you are and what drives you. Keep abreast of current economic events, and remember the crucial roles that some occupations have in maintaining our society's well-being. However, take the initiative to search for a position that suits your needs.
Skillslash - Your Best Bet for a Recession-Proof Career
So, Why Skillslash?
The answer is simple. Skillslash follows a simple belief - Learn by Applying.
Having a team of industry experts and providing a robust and exhaustive curriculum that covers all the academic needs and requirements of an individual, Skillslash aims at eradicating the traditional methods of learning and helping students excel in the field through "learn by applying".
Let's have a look at the core highlights of a Skillslash course which makes it better than a majority of the already-established institutes out there in the nation.
- 1:1 mentorship, doubt-clearance through live sessions
- M(F)AANG experts giving training to crack respective M(F)AANG interviews
- Video backup support (Lifetime)
- Internship with a top AI firm to gain real-work experience with 8+ industrial projects over 6+ domains
- Mock interviews and resume-building support
- Unlimited job referrals to get you placed in a high-paying job
Out top courses which server as a game changer are mentioned below:
- Advanced Data Science and AI Program
- Business Analytics Program
- Full Stack Developer Program
Let's have an overview for each of them.
Advanced Data Science and AI Program with Guaranteed Job Referral
The Advanced Data Science Course In Bangalore with unlimited job referrals aims at helping students follow a project-based learning approach. This will help learners build relevant work experience and increase their chances of landing their dream job.
This course is for working professionals in any domain who wish to have a successful transition into the data science domain. With this program, you will follow a 3-step process to have a successful transition.
First, you master the core data science concepts through live interactive sessions and doubt resolution from expert mentors. Next, you work with a top AI firm on real-world projects applying your domain knowledge to test. Finally, you receive unlimited job referrals from the Skillslash team to ensure you get placed in one of the big MNCs in the country.
Let's have a look at the program details.
Program Duration: 9 Months
Placement Support: Guaranteed Job Referral
Hands-on Projects: 15+
Domains Covered: 6+
What Will You Learn?
- Module 1 - Introduction
- Module 2 - Programming Essentials
- Module 3 - Applied Statistics
- Module 4 - Advance Machine Learning
- Module 5 - Deep Learning
- Module 6 - NLP
- Module 7- Reinforcement Learning
- Module 8- Computer Vision
- Module 9 - Data Structures and Algorithms
- Module 10 - Tools
Full Stack Developer Course to Crack Interviews at F(M)AANG
For all those working professionals looking to have a career transition into Full Stack or into upskilling in DSA, Skillslash has the perfect programs. The Full Stack Developer Course In Bangalore and Data Structure and Algorithm Course. The ultimate goal of this program is to help students get and crack interviews from F(M)AANG companies and have a shift to product-based companies.
The best part of this course is that no prior programming experience is needed. Here, the industry experts (your mentors) will help you master the core concepts through live interactive and 1:1 sessions. Next, you will work with a top AI firm on real-world problems in the form of hands-on projects and work on the domain you were from. Finally, you will receive unlimited job referrals along with mock interviews and resume preparation hacks to enable you to bag offers from F(M)AANG companies.
Let's have a look at the program details.
Program Duration: 11 Months
Placement Support: Guaranteed Job Referral
Hands-on Projects: 8+
Domains Covered: 6+
What Will You Learn?
- Module 1: Foundation & Prep Session
- Module 2: Data Structures and Algorithms
- Module 3: System Design in Depth
- Module 4: Advance Data Structures & Algorithms
- Module 5: Coding Interview Prep
- Module 6: Electives & Specialization
- Module 7: Work on End to End Projects in Partnership With Startups
Business Analytics Program with Guaranteed Job Referral
If you are great with data and numbers and can use them to help businesses make the right decisions, business analytics is the way to go. You can achieve that with our business analytics program with unlimited guaranteed job referrals.
The program gives you the flexibility to create a course that best suits your needs and skills and expert training and domain-specific projects while working with top AI firms will give you the confidence and experience to crack interviews at big MNCs. You also receive unlimited job referrals to ensure it happens.
Let's have a look at the additional details of the program.
Program Duration: 9 Months
Placement Support: Guaranteed Job Referral
Hands-on Projects: 15+
Domains Covered: 6+
What Will You Learn?
- Module 1: Basics For Data Science
- Module 2: Programming Essentials
- Module 3: Applied Statistics
- Module 4: Introduction to Machine Learning
- Module 5: SQL for business
- Module 6: MongoDB
- Module 7: Excel for Business
- Module 8: TABLEAU for business
- Module 9: Power BI
- Module 10: Project Management
Conclusion
To summarize our discussion, we understood about recession, how damaging it can be for your career, skills to develop to beat it, and follow certain ways to make your career path recession-free. If you wish for the same, look no further because our team is there to guide you at all times and help you build a career map, and work with you on it. With us, you only need to focus on learning and growing. We take care of grooming you into a true professional and getting you placed in big MNCs. Get in touch with our student support team to know more.
