I hate to be the bearer of bad news, but the economy is not good, and your job is not safe. Despite the current stock market hype, another serious economic crash IS coming. It's time to Get Real and find that thing that gets your heart racing.
Do you feel like your destined for more meaningful work? Put it into perspective and discover how to maximize your value by taking our Career Persona quiz.
The DOW is at record highs, the Fed announced a rate hike last quarter, and signaled that subsequent rate hikes could occur later this year. To the untrained eye, it appears the U.S. economy is healthy.
Consequently, most professionals believe their job is secure and some feel it is safe to start looking for a better job.
Unfortunately, the stock market is hiding the fact that the United States is 9-18 months away from a major market recession, on the scale of 2008-2009, during which over 5 million jobs disappeared and $6.9 trillion of shareholder wealth was wiped out. In the Spring of 2008, I sold my business after finding the same indicators I see now.
I hate to be the bearer of bad news, but the economy is not good, and your job is not safe. Despite the current stock market hype, another serious economic crash IS coming. Mark my words, hiring will start to slow in the third quarter of this year, and will steadily decline as the market deteriorates.
The question is: As a working professional, who may not have the savings to endure a job loss, what can you do?
Simple: Get Real and Find Your Thing
If you’re not passionate about your work, you will be vulnerable if another recession impacts employment levels. There is a time to make a job change now, but rather than finding “a better job” why not use the time to search for “your thing” (the job that’s right for you.)
How do you know what the right job for you is?
What kind of work gets your heart racing?
Even if you were paid less, what would you enjoy doing?
What work would you find meaningful?
Passion is at the heart of meaningful work. You
There is no one job that will protect you from another recession. It will be a rocky period just like it was in 2009. Jobs will be lost, but companies will need passionate talent to ensure they survive. I’d bet my fortune that these companies will seek the most talented individuals, who are also the most passionate about being a part of the solution. In this case, passion WILL rule.
Get Real and Get Smart
Maybe you are passionate about your role, and want to be a part of the solution, but your company is not prepared for a recession. Which means you may still lose your job.
Give thought to your leadership, and your company’s market position. Is your company well positioned for a market correction? Are they prepared? You may love the role, and love your management team, but if the firm is not prepared for a recession, your job is vulnerable.
Be YOU and Know Your Value
Starting in 2010, we conducted extensive research on the talent marketplace, and identified what we called Career Personas. Career Personas explain what type of work you’re naturally suited for.
Career Personas allow us to understand the role best suited to our personality. With this information, professionals can strengthen their value in the talent marketplace.
Career Personas are a valuable tool to determine the type of work you are passionate about, as well as the value you provide. If you want to be successful during a recession, KNOW your value. Armed with Career Persona, determine the types of roles that suit you best. In addition, you can better market yourself to companies who need that type of Persona.
I’ll end with this: you know I tell it like it is, even if you don’t want to hear it. Folks, we are headed for another major recession, and millions of jobs will be lost. Again.
Known as part Wayne Dyer and part Richard Branson, Terri is a world class business growth expert, serial entrepreneur, and life transformation coach with a purpose to inspire potential. In a career that spans more than 25 years, she has launched, owned, sold, rebranded or turned around more than 40 brands. She has authored several books, and created game-changing models for business and personal success. Terri is the Founder and CEO of Succeed On Purpose Inc.
On July 1st Canadians celebrated Canada Day, and on July 4th the US celebrated Independence Day. Independence is a tricky thing. We need independence to thrive but if we become TOO independent, we risk losing our humanity.
Your meaningful business isn’t just a way to make money—it fuels your passion to make a difference. But, if you’re like many conscious entrepreneurs, you may not be focusing on fundamental steps that are key for growing a business.