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#CareerAdvice : #YourCareer – How to Survive a Recession. How to Recession-Proof Your Career. #MustRead !

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Some experts believe is a recession is inevitable. In the last recession—which kicked off in 2008 and lasted 18 months—some 2.6 million American workers lost their jobs. And so, it’s no wonder workers across the country are worried, career experts say.

But there is some good news: The unemployment rate remains low, and consumers continue to spend in the economy—two indicators that companies are unlikely to scale back too much in the event of a recession. What’s more, as Andrew Chamberlain, chief economist of Glassdoor, told Market Watch, Americans’ money may be safe, too: “Most Americans are not invested actively in the stock market,” he said. “The psychology of slowdown hasn’t infiltrated the real economy.”

Of course, we understand if you’re still concerned, for your job and future. And that’s what this guide is here for: We’ll walk you through what to expect in the event of a recession, from what jobs might be safest to how to build a back-up plan and what you can do if you do lose your job.

Jobs That Are Safe (and Jobs That Aren’t)

While it’s safe to say most jobs aren’t truly recession proof, some career fields may be safer than others if a recession hits. “Anyone in medical care is considered pretty recession proof,” says Jill Jacinto, a millennial career expert. “It’s a service people will always need—especially as Baby Boomers continue to age and require more of them.” In that sense, Jacinto says that people who work as doctors, therapists, nurses, pharmacists, and senior care providers may be the safest. 

In addition to jobs in the healthcare industry, “government positions, the financial industry, IT, and technology are … more recession-proof industries,” says career coach Hallie Crawford. 

Jobs that typically aren’t safe, on the other hand, are retail and service-based, Crawford says. (In fact, she says, these are often the first industries to be hit by a recession.) What’s more, “if we look back at the recession ten years ago, the hardest hit areas were architects and construction, travel agents, event planning, and real estate,” says Jacinto. “This makes sense since people are scaling back from buying homes and cosmetic home improvement projects when money is tight. They also are forgoing vacations and large-scale events.” Of course, Jacinto adds, “people working in media also got hit with massive layoffs since advertisers were shrinking budgets.” 

Chamberlain also told NBC that “there was some very weak job growth for some blue-collar sector jobs,” such as transportation and mining, which may make these jobs less recession proof.

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What Skill Sets do You have to be ‘Sharpened’ ?

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Skills You Should Hone

Whether you work in a field that’s more (or less) recession-proof, it’s smart to hone certain skills that will be valuable no matter the state of the economy, our career experts say. After all, as Jacinto says, “the people who tend to survive layoffs are the ones most adaptable to change.” 

So, your first step, she advises, should be to learn or take courses on the newest skills needed for your particular job or industry—even if your work isn’t requiring you to do so. You should also practice being the “yes” person, Jacinto says—the one who is proactive about taking on projects and making your boss look good. (Making yourself indispensable is a good idea all the time.) 

Crawford says that tech skills, regardless of where you work, are important to hone. “Knowledge of technology is always going to be a must-have,” she points out. Plus, project management skills are skills that can transfer to almost every job and industry, and they can be highlighted on a job application. “Every organization will need people to manage projects effectively,” she explains.

How to Build a Back-Up Plan

Having a back-up plan will give you peace of mind and a clear path to follow should a recession hit. Jacinto recommends that your backup plan include strengthening your network and personal brand. “Check in with your network and develop new relationships,” she says, “so if layoffs hit, you’ve already done the meet-and-greets and can ask for job recommendations and referrals.”

You should also “mentally prepare yourself for having to accept less money, benefits, or—the most likely outcome—taking on more work during a recession,” says Crawford. In recessions, companies may try to do more with less, and your job—or a new job—may look very different than you envisioned. “Consider ways to be more efficient with your job, in case you are asked to take on an additional workload,” Crawford suggests. You should also think about ways to reduce your spending, too, she suggests, so that you’ll be financially prepared for whatever may come.

Talking to Your Boss About Recession Concerns

If you’d like to speak to your employer about potential recession risks, you can—but carefully. “You should not flatly ask, ‘Will I be getting laid off?’” warns Jacinto. “Chances are that your boss has no idea—and more importantly, you want to position yourself as a strong employee.” 

Instead, Jacinto and Crawford agree that you can broach company and economy issues in a one-on-one setting and in a way that doesn’t address your job specifically. You can ask: “How the organization is doing knowing the current state of the economy, and if the company or your department should do any planning for a possible recession,” says Crawford. “Your boss will likely not want to alarm any employees to a chance of staff reduction, but taking a proactive stance and opening a possible conversation for a plan of action is a positive way to address it.”

You may also want to set up a time to present to your boss how valuable you are the company, Jacinto says. “Put together a presentation that walks them through your day-to-day projects but also your accomplishments year to date,” she says. “How many new clients did you add? Have you increased ROI or decreased budgets? Letting your success speak for itself subconsciously tells your boss you are essential to the business and not the person they should mark to leave.”

What to Do If You’re Laid Off

If the worst should happen and you are laid off during a recession, you may have some options. 

Now is the time to review your employee handbook and study your company’s policy on layoffs and severance, says Jacinto. “You might be owed a nice amount of money, and better for you not to leave it on the table,” she says. You may be entitled to unemployment, payment for unused vacation days, and more. If the handbook doesn’t make it clear, schedule a meeting with HR. 

Crawford encourages you to find out what insurance benefits, if any, you’ll be entitled to in the event of layoffs. If they aren’t provided, you may want to check out COBRA for the short term. 

If you’re laid off, it may also be smart for you to ask your employer if there’s an opportunity for you to work as a consultant or contract employee, even part-time, says Crawford. “If the layoff is permanent, ask if they see any chance to be re-hired in the future, if they are willing to give you a recommendation on LinkedIn, and if they are willing to be a reference for you,” she says. “And ask for any connections or referrals they may have to other organizations for possible jobs.” The company may be able to point you toward a great opportunity—or at least in the right direction. 

 

GlassDoor.com | September 16, 2019

Your #Career : Walmart Layoffs; Troubling Signs For White Collar Workers…Your Job — Whether you’re a Blue Collar Worker or from the Professional Class — Will always Be in Jeopardy. Sometimes, Like in the Case of the Recent Walmart Announcements, those Threats can Come as a Surprise.

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Redundancy and layoffs are typically worries for low-wage, blue-collar workers — at least these days. Technology and automation are creeping into the picture, and that has millions of workers on edge about the future of their jobs. But white-collar workers haven’t experienced the same anxieties, at least not to the same extent. Sure, white-collar employees face layoffs as well, but they’re typically less expendable and have a bit more job security.That may be changing, however, as some of the nation’s largest employers are starting to cut back not only on low-skilled workers but on those in the professional class as well. That is, it’s not only cashiers that may be on the chopping block. Accountants could be next.

They are next, in fact.

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LONDON - SEPTEMBER 15: Employees comfort each other outside Lehman Brothers' Canary Wharf office on September 15, 2008 in London, England. The fourth largest American investment bank has announced that it is filing for bankruptcy protection during a growing financial crisis. (Photo by Cate Gillon/Getty Images)

White collar workers faced layoffs at Lehman Brothers in 2008, and now they face them at Walmart

For proof, you need to look no further than America’s largest private employer, Walmart. The company recentlyannounced the layoffs of 7,000 back-office employees, mostly those working in accounting and invoicing. These jobs will now be handed off to automation systems, which Walmart had been experimenting with in several hundred of its stores prior to deciding to make the call.Walmart did say that the fired employees would have chances to remain with the company in other capacities.

Walmart layoffs

A woman at a closed Walmart trying to make sense of it all

A woman at a closed Walmart trying to make sense of it all | Mark Ralston/AFP/Getty Images

7,000 employees being fired by the nation’s largest private employer isn’t that big of a deal, really. The company has earned a reputation for being an adversary of the working man, in many respects, and has had little troubleclosing entire stores on a whim due to talk of unionization, or other perceived dangers to its business model.

Wal-Mart says the move is being made in an effort to expend more resources in its stores themselves. Walmart has earned itself a reputation with American consumers, and though millions love shopping there, a large contingency also avoids its stores for a number of reasons. Facing increased competition from online options — Amazon, mostly — Walmart execs are trying to make their stores more pleasant to shop in, to lure consumers away from their computers and into brick-and-mortar locations.

With that comes a cut down on back-office staff, or those who aren’t helping them achieve that goal. This, from what is being reported, anyway.

This is more or less standard fare for a changing economy, though. Jobs are created and destroyed when new technologies or businesses are created. But it can’t or shouldn’t sit well with workers who felt that they had job security.

White collar jobs on the chopping block?

A white collar worker receives a rude notice regarding layoffs

A white collar worker receives a rude notice regarding layoffs | iStock.com

Let’s not lose perspective; we’re only talking about 7,000 jobs. In the grand scheme of things, that’s not an awful lot. But we’re not used to hearing about accountants or office workers getting the boot because they’ve been replaced by computers or technology — that’s something usually associated with fast food workers, or taxi drivers. Should white collar workers be worried?

Kind of. Sooner or later just about everything you can imagine will be automated to some degree. There are numerous jobs and industries that will soon be handed over to technologies, like long-haul trucking, for example. It’ll be a painful process, but people will find other jobs and other things to do. But the big difference here is that specialized skills — like those done by many white collar workers — are also being made redundant by technology.

It’s making the future seem a lot scarier, rather than awesome, for people who aren’t holding patents or intellectual property rights. How is one supposed to make a living in a future where human labor is widely unneeded? That, of course, is a bit hyperbolic, but it’s a conversation that needs to start somewhere.

The best option may be to just suck out as much wealth from the system as possible and run — as the folks running for-profit education company ITT Tech recently did.

The key is to stay ahead of the game and know what skills are going to be in demand in the future. You’ve heard it before, but here it is again: Learn a skill — a skill that commands value. As anyone can tell you these days, even a college degree isn’t going to get you much unless you can do something with it.

Your job — whether you’re a blue collar worker or from the professional class — will always be in jeopardy. Sometimes, like in the case of the recent Walmart announcements, those threats can come as a surprise.

Follow Sam on Twitter @Sliceofginger and Facebook

 

 CheatSheet.com | September 11, 2016 | Sam Elliott

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#Strategy : 21 Highly Successful People who Rebounded after Getting Fired…From Steve Jobs to Jerry Seinfeld, here are 20 People who Turned their Termination Into an Opportunity.

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Getting kicked to the curb by your employer can certainly be demoralizing. But these successful people prove that what may initially feel like failure may just be the launching pad you need for success.

From Steve Jobs to Jerry Seinfeld, here are 20 people who turned their termination into an opportunity.

Vivian Giang and Alana Horowitz contributed to earlier versions of this article.

Thomas Edison secretly conducted experiments in his office at Western Union that got him fired.

Wikimedia

Until one night in 1867, when he had a chemical accident at the Associated Press bureau news wire, according to “Famous Americans: A Directory of Museums, Historic Sites, and Memorials.”

Edison worked the night shift so he could have more time to spend on his inventions and reading. One night when he was experimenting with batteries, Edison spilled some sulfuric acid that ate through the floor and spilled onto his boss’ desk below.

He was fired the next morning, but decided to pursue inventing full-time and received his first patent two years later for the electric vote recorder, according to Bio.

 

Before heading to Yale, former Secretary of State Hillary Clinton was fired from her brief stint at a salmon cannery in Valdez, Alaska.

Lucas Jackson/Reuters

The former New York Senator recounted on the “Today” show on Monday that after graduating from Wellesley College, she and some friends worked their way across Alaska washing dishes, and she eventually wound up working in a fishery scooping out salmon guts.

“I was given a spoon and some boots and I was told to take out the insides of the salmon,” she said.

Clinton didn’t last long in that role, however, noting that the Japanese workers who were taking out the caviar yelled at her for working too slowly. “So they literally kicked me out of that job,” Clinton said.

She says they then placed her on the line packing the salmon head to tail. But when she noticed the salmon were “green and black — they looked horrible” and a peculiar stench, she questioned the man running the operation about the salmon’s quality.

“When I left, I came back the next day and the whole operation was gone,” Clinton said. “So I think that was the equivalent of getting fired.”  

During a previous inter viw on Letterman in 2007, Clinton called her stint at the cannery her “favorite summer job of all time,” noting its role in her future success: “Best preparation for being in Washington that you can imagine,” she said.

Steve Jobs was fired from Apple, the company he cofounded. His second act turned out to be bigger and better than the first.

REUTERS/Robert Galbraith

When Jobs was in his 30s, the very company he created fired him.

“I was out — and very publicly out,” Jobs said in a 2005 commencement speech at Stanford University. “What had been the focus of my entire adult life was gone, and it was devastating.”

Jobs spent the summer of 1985 in a “midlife crisis” trying to decide what he wanted to do, from entering politics to becoming an astronaut, said Alan Deutschman, author of“The Second Coming of Steve Jobs.”

During his time away from Apple, Jobs cofounded computer company NeXT, which was later acquired by Apple, and launched Pixar Animation Studios. When he returned to Apple nearly a decade later, he brought the innovation of the iPod, iPhone, and iPad.

Walt Disney’s newspaper editor told the aspiring cartoonist he wasn’t creative enough.

AP Photo

In 1919, Disney was fired from one of his first animation jobs at the Kansas City Star newspaper because his editor felt he “lacked imagination and had no good ideas,” according to “The Wisdom of Oz.”

That wasn’t the last of his failures. Disney then acquired Laugh-O-Gram, an animation studio he later drove into bankruptcy. Finally, he decided to set his sights on a more profitable area: Hollywood.

He and his brother moved to California and began the Disney Brothers’ Studio, eventually creating Mickey Mouse and Disneyland and winning 22 Academy Awards.

Carly Fiorina was fired as CEO of Hewlett-Packard.

AP Photo/Jim Cole

The first female executive of a Fortune 500 company, Fiorina was forced to resign from HP after six years at the helm in 2005 after the controversial decision to buy Compaq in 2002 for $25 billion and subsequent lay off of 15,000 employees at Hewlett-Packard, International Business Times reports.

While she’s never held elected office,Fiorina announced her candidacy for president in May and currently is a frontrunner in the polls ahead of career politicians like Jeb Bush and Marco Rubio for the Republican nomination.

“I was fired in a boardroom brawl. And you know why?” Fiorina told CNN in August. “Because I challenged the status quo. It is what leaders must do. And when you challenge the status quo, when you lead, you make enemies. It’s why so few people lead.”

In the 1980s, Mark Cuban lost his job as a salesman at computer store. That was the last time he worked for someone else.

Screenshot from ABC’s “Shark Tank”

One of Cuban’s first jobs out of college was as a PC software salesman. However, he was more interested in cultivating new business than obeying his boss.

Cuban wrote in Forbes that, after a few months on the job, he had to opportunity to make a $15,000 sale — he just needed a coworker to cover him at the office and to get his boss’s approval.

After his boss told him not to make the sale, Cuban decided to go through with it anyway, and upon returning to the office with the check was promptly fired.

“But being fired from that job was the determining factor in my business life,” he wrote. “I decided then and there to start my own company.”

Shortly after his termination, Cuban started Micro-Solutions and has since earned an estimated $3 billion, according to Forbes.

J.K. Rowling spent too much time at work brainstorming story ideas.

Suzanne Plunkett/Reuters

Rowling worked as a secretary for the London office of Amnesty International, but she dreamed of being a writer.

She secretly wrote stories on her work computer and daydreamed about a teenage wizard named Harry Potter. Her employers finally got fed up and gave her the boot, according to “Your Journey from Fired to Hired.“

Her severance check helped support her over the next few years, when she finally decided to focus on writing.

Today, she’s the author of one of the most successful book series of all time.

Mayor Michael Bloomberg used his severance check to start his own company. Now he’s one of the richest people in the country.

Getty

Bloomberg was a partner at investment bank Salomon Brothers. In 1998, they were bought out by the company that eventually became Citigroup. Bloomberg was let go, but not before receiving a hefty severance check, he writes in his autobiography, “Bloomberg by Bloomberg.” 

He used that money to start his own financial services company, originally called Innovative Market Solutions. The company, eventually renamed Bloomberg LP, aimed to make it easier for traders to wade through data and was worth $2 billion by 1989.

Today, the former New York mayor is work an estimated $38.4 billion, according to Forbes.

Julia Child was fired from her advertising job for “gross insubordination.”

Jon Chase/AP

In the early 1930s, Child was the advertising manager of home furnishings company W&J Sloane’s Los Angeles branch, according to Bio. She was fired for “gross insubordination” a few months after acquiring the position.

“I don’t wonder,” she reportedly wrote on her résumé, according to “Julia Child: A Life.” “One needs a much more detailed knowledge of business … than I had.”

Child went on to volunteer as a research assistant for a US intelligence agency during World War II; moved to Paris, where she developed a love for French cooking and attended the Cordon Bleu cooking school; adapted complex French cooking for everyday Americans with her acclaimed cookbook “Mastering the Art of French Cooking“; and become a television icon with her popular cooking shows like “The French Chef” and “Julia Child and Company.”

Colonel Harland Sanders was fired from dozens of jobs for his temper.

Wikipedia

According to KFC, Colonel Harland Sanders sold tires in the early 1920s and became the top salesman in Kentucky, but he was fired because of his temper.

Times reports he was fired from dozens more jobs before closing his first restaurant and going broke at age 65. He was reportedly fired from two separate railroad jobs, once for insubordination and the other time forfighting a colleague, and as a country lawyerafter assaulting his own client.

After losing his restaurant, Sanders traveled across the US looking for someone to sell his fried chicken. It wasn’t until 1964, when Sanders was 74, that the Colonel had more than six hundred franchised outlets for his chicken and he sold his interest in the company for $2 million to a group of investors, according to Bio.

Anna Wintour was fired from her first job as a junior fashion editor at Harper’s Bazaar.

Getty Images / Gareth Cattermole

The Vogue editor started her career in New York as a junior fashion editor at Harper’s Bazaar. She made waves for her innovative shoots, but editor Tony Mazalla thought they were a little too edgy. She got canned after a mere 9 months.

Getting fired was a great learning experience and never held back her style. “I recommend that you all get fired,” she told fashion students.

Shortly after leaving Harper’s, she became a fashion editor at Viva, and in 1988 she was named Editor-in-Chief of Vogue, a job she has held for 27 years.

Jerry Seinfeld didn’t know he was fired until he showed up for a read-through and his part was missing from the script.

John Minchillo/Invision/AP

In the early 1980s, before his hit show “Seinfeld,” the comedian had a small role on the sitcom “Benson,” but, according to the New York Times, Seinfeld and the show’s producers clashed over the character’s direction, and he was fired after only four episodes. 

Unfortunately, no one bothered to tell Seinfeld he’d been cut, according to “Jerry Seinfeld: Much Ado About Nothing.” Seinfeld showed up for a read-through of the script one day and found there was no copy waiting for him. The assistant director pulled him aside and told him that they had neglected to inform him he was no longer on the show.

Seinfeld was humiliated, but he went right back to performing at comedy clubs. After one performance, a talent scout for the “Tonight Show” was in the audience. Seinfeld landed a gig on the show and his career immediately took off.

Sallie Krawcheck, often called one of Wall Street’s ‘most powerful women,’ was fired from Bank of America in 2011.

REUTERS/Shannon Stapleton

Two years after hiring Krawcheck from Citi, Bank of America fired its former president of the Global Wealth & Investment Management division, Forbes reports. The decision came from Bank of America’s struggle in reorganizing its C-level execs after merging with Merrill Lynch.

“I got grateful when I got fired,” Krawcheck said at the Third Metric conference in June 2013. “I said, ‘How many people get to get fired, and it’s on the front page of The Wall Street Journal?'”

“If you asked me when it happened if I got fired from Citi because I’m a woman, I would have told you absolutely not,” Krawcheck later told Fast Company. “But now I’d say, not exactly.”

“I was invited to leave because I had a fundamentally different business perspective than the powers that be,” she said.

In 2013, Krawcheck acquired women’s networking group 85 Broads, which has more than 30,000 members in 130 countries, and renamed it Ellevate Network. 

The New Yorker gave Truman Capote the boot after he insulted poet Robert Frost.

Capote dropped out of high school to become a copy boy for the New Yorker, according to “Capote: A Biography.” His lifelong dream had been to be published in the prestigious magazine.

Two years later, Capote attended a reading by famed poet Robert Frost. Sick with a cold, Capote left in the middle of the meeting. Frost was deeply insulted, and knowing where Capote worked, he demanded that the magazine fire the boy.

Getting fired didn’t hurt his career. He began to submit short stories to magazines like Harper’s Bazaar and Mademoiselle. A few years later, he published his first novel.

Robert Redford was a lazy, sloppy manual worker. Turns out, his talents belonged elsewhere.

AP

As a teenager, Redford worked in the shipping yard at the Standard Oil refinery in El Segundo driving a forklift and cleaning tanks.

According to “Fired Up!” when a supervisor found him asleep in an oil tank, instead of firing him, they moved him to the bottle-washing department in the chemical building. But when he smashed a load of glass bottles, he was terminated.

Redford was fired from a number of other odd jobs after that.

“I got fired from the jobs I should have been fired from,” he said. “I took those jobs to earn money. The lesson I learned was that I wasn’t meant to do any of those things. I was never meant to be in the labor market.”

It wasn’t until Redford moved to New York to pursue acting that he found his career path.

A Baltimore TV producer told Oprah Winfrey she was “unfit for television news.”

Photo by Chris Pizzello/Invision/AP

According to “Become Your #1 Fan,” Winfrey was fired from her evening news reporter gig with Baltimore’s WJZ-TV because she got too emotionally invested in her stories. A Baltimore TV producer reportedly told her she was “unfit for television news.”

As a consolation, though, he offered her a role on a daytime TV show, “People Are Talking.”

The show became a hit, and Winfrey stayed for eight years, according to Bio.

Winfrey eventually became the host of “The Oprah Winfrey Show,” which aired for 25 seasons. She’s currently worth an estimated $3 billion, according to Forbes.

Before being named NFL Coach of the Year, Bill Belichick was kicked to the curb by the Cleveland Browns.

Christian Petersen/Getty

Since joining the New England Patriots in 2000, the head coach has led the team to six Super Bowl appearances and four wins. But in 1995, Belichick was fired from his first head coaching job with the Cleveland Browns by team owner Art Modell.

Belichick was named NFL Coach of the Year for 2003, 2007, and 2010 seasons and is the NFL’s longest-tenured active head coach. He is widely considered one of the best coaches in history, according to Bio.

Madonna lost her job at Dunkin’ Donuts for squirting jelly filling all over customers.

Michael Buckner/Getty Images

According to “Madonna” biographer Andrew Morton, when the artist dropped out of college and moved to New York to find fame, she had a rough start.

Strapped for cash, she took a job at Dunkin’ Donuts in Times Square. She didn’t even last a day. After squirting jelly filling all over a customer, her managers gave her the boot.

The Material Girl went through several fast food and waitressing jobs before she was introduced to the city’s punk rock music scene in 1979.

Ford didn’t want Lee Iacocca, so he brought his ideas to Chrysler.

AP

Iaccoca rose to the top of the Ford Motor Company, but he clashed with Henry Ford Jr., the company’s then-CEO and chairman, according to “Iacocca: An Autobiography.” After a string of unused and bad ideas (including the Ford Pinto), Iacocca was let go.

Iacocca was soon courted by Chrysler, which was in danger of going out of business. He took out a huge loan from the government and used it to revive the company. He brought several of his ignored ideas by Ford over to Chrysler, like the Dodge Caravan and the Plymouth Voyager.

He remained CEO of Chrysler until 1992 and is credited with helping the company achieve record profits, according to Bio.

Right before they started Home Depot, cofounders Bernie Marcus and Arthur Blank were fired from their jobs.

Getty Images

Marcus and Blank were working for Southern Californian home-center chain, Handy Dan, when a corporate raider fired both of them, Entrepreneur reports.

The two men decided to start their own home-improvement store based on an idea they’d had while at Handy Dan: an entire store of discounts. They called it Home Depot. In less than a decade, they’d opened more than 100 stores and made over $2.7 billion in sales.

Handy Dan shut down in 1989.

Businessinsider.com | October 5, 2015 |