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| Finding the Recession's Upside |
by Jon Jacobs - August 7, 2009
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The financial sector blowup and recession have soured the near-term career outlook for a great many professionals. But if you're any good, you know what to do when life gives you lemons. Here are some hints for squeezing lemonade, courtesy of placement agent Allison Hemming. Hemming runs The Hired Guns, a firm that helps employers connect with independent professionals seeking project work. In an interview with the Manhattan daily paper, amNewYork, she cites several "hidden perks" of the recession.
- The unemployed, freed from day-jobs, have more time to work on projects they're most passionate about and that showcase skills they most long to utilize.
- Shrinking staffs often mean employers have more freelance work to parcel out among independent contractors.
- Unemployment makes a person more self-reliant – as in, "opportunistic and pro-active."
- As reliance on contract work expands, Hemming sees a bump in demand for project management skills, to supervise the work of all those outside contractors.
If You're Still Employed
For shell-shocked survivors of layoffs, having former colleagues' responsibilities dumped on your back isn't fun, but it can broaden your skills palette and thus make you more marketable. "You'll be much more marketable and hirable in the future, and likely leapfrog levels," Hemming says.
Your ideas for improving the business may be heard for a change, and you're also more likely to get the credit.
Finally, Hemming advises leveraging your current contributions by telling your boss you're patient, but expect to be rewarded "when we get out of the recession." And if asking for a raise would sound quixotic now, the article notes, "Something you can ask for that's free is job-title improvement."
We're not so sure about that last point. Getting a title in lieu of a raise can be a trap. And pressing for a raise, even at an unspecified future time, could backfire.
Still, once your employer starts to see green shoots, their focus will subtly – or not so subtly – swing from cost control to retaining the most productive team members. At that point, you'll be a step ahead if the boss already has been disabused of the notion that he can take your loyalty for granted.
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| KT (Los Angeles) |
on 12 Aug 2009 at 10:08 pm |
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It is indeed difficult to see the outcome of this Depression Economy. Everyone thinks that there's money somewhere and someone is holding it.
Everyone's tanking- Real Estate Brokers (tanked last year), Attorneys, Private Business Owners and very hard working Americans. There's no "net" to save anyone and everyone's scrambling for a deal to keep the bills paid and food on the table.
All of the forecasters are unaware and cannot see into a solution to the problem. I've followed Anderson School of Business and they too are clueless. It's funny because Greenspan and Bernake are over paid losers and have, and continue to, lead us into the Twilight Zone.
People with degrees have careers. Others who don't have jobs. We need development in both areas and this is where government and private industry fails. |
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| Wayne (Eastern U.S.) |
on 12 Aug 2009 at 8:54 pm |
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Addressing the first stat that is mentioned, the 300 million population in the US, and the current unemployment rate. The BLS (Bureau of Labor Standards) does not count individuals too young to work(lets say under 15, and those who have been out of work and have given up searching, along with the individuals who want full time work, but are working part-time). This will reduce the total number of Unemployed individuals down substantially below the 30 plus million individuals noted by the first writer.
!! The hard reality is the number of individuals forced to take jobs to try to get by has increased expodentially in the last year. Employers are increasing the requirements for jobs, and at the same time lowering or at best not raising the wage.
I see first hand everyday the increasing number of individuals making new unemployment claims, this has continued each week over the last three weeks, without slowing down. Do question the actual rate of unemployment along with new first time claims.
The BLS uses three categories to describe the unemployment rate, the headline rate which is broadly reported is referred to as the U3. The rate encompassing most of the unemployed and underemployed is in the stats of the U6.
In any event, it is difficult for individuals to be consistently motivated to see the positive, when their lives are being altered, and reshaped by forces outside their control.
Do not give up looking for work, do volunteer work, at least this might provide the true networking that everyone is hyping. Forget the networking meetings, most are filled with other unemployed individuals. |
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| JohnJ (CT) |
on 12 Aug 2009 at 8:32 pm |
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| I agree with almost all that's been said...I'm in the same boat. However, Denise, the 10% unemployment rate is in relation to the total labor force, not the total population. So the total number of people unemployed is probably about 8-10 million. Also, remember that 4% unemployment is considered "full employment", i,e, even in the best of times about 4% of the workforce is unemployed. Therefore, the "effective" unemployment rate is closer to 6%. Hope this makes it hard data somewhat more palatable...but I know how you feel. |
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| Denise (NYC) |
on 12 Aug 2009 at 12:53 pm |
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| When data indicates that there 300 million people in the USA and the Unemployment Benefits stats states that 10% are unemployed that equals 30 million people out of work and it does not even include the people forced off of benefits or who could not qualify for benefits which could bring this number up to 40 to 45 million people out of work. We are in a depression, not a recession. At some point in time someone has to take note of that fact. The internet has killed unemployed people's abiltiy to job search. Employers are receiving 1,000 to 2,000 resumes per add. Their staff does not have the time to go through all the resumes so more times then none you resume just goes into the garbage pale. Also salaries have dropped a good 25% if not higher yet employers refuse to employ people who are willing to take a big cut in salary. Everyone says you should network but the fact is that the only people networking are unemployed and the people employed are so overworked or frightened of loosing their jobs that they will not take the time out to help other people. I think someone needs to research and write and article about these facts. |
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| starrlara (hmmm) |
on 11 Aug 2009 at 4:27 pm |
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| Yea, not easy to see the upside when you can't make your mortgage and medical insurance payments after being laid off for a year, and unable to get more than once every 3 months reponses to one's resumes and cover letters that I paid to have re done. I've used funny letters, serious letters, empathic letters, creative letters, nothing ever works. |
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