How to successfully find a new job in times of economic uncertainty

RgStudio/Getty Images

RgStudio/Getty Images

It’s a complicated time to be a job seeker. With rising costs due to inflation, many are looking for new, better paying jobs. But at the same time, a looming recession raises fears that a new position will be cut soon after you’re hired.

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To help you navigate the job search during these uncertain economic times, GOBankingRates spoke with Toni Frana, Career Services Manager at FlexJobs and Remote.co.

80% of working professionals say inflation impacts their career decisions

A recent FlexJobs survey of over 4,000 professionals found that for the majority, inflation is affecting how they view their careers.

“Inflation is certainly a major concern for the majority of professionals today and is currently impacting their career decisions, including whether to seek a new job with a higher salary or attempt to negotiate higher salary with their current employer,” Frana said.

“Furthermore, a third of survey respondents cited inflation as a ‘huge factor’ in their career decisions, while 46% said it was either a factor or a small factor,” a- she continued. “But while inflationary pressures and recession fears may be concerning, we encourage clients and job seekers to remember that hiring still happens even in times of economic uncertainty.”

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73% of professionals fear a recession will affect their career decisions

While many employees seek higher salaries in an inflationary environment, with this desire to earn more comes career fears of recession. But even in a recession, there are ways to land a new job that will meet your needs.

“The key to landing a job during a recession is to focus on what you can control as a job seeker, to stay open to new opportunities, and to present yourself in the best possible light,” Frana said. “In your job search, there are key ways to find a job during a recession that may just require you to restructure your search and find other ways to market yourself to different industries.”

Specifically, Frana recommends following three steps.

1. Expand your options

“Staying open to industries and positions you wouldn’t normally navigate to can be key to finding a job during a recession,” she said. “Consider freelance, part-time, temporary and short-term assignments.”

2. Be patient

“Competition increases when there are fewer opportunities,” Frana said. “As a result, the hiring process may take longer than usual, and job hunting during a recession means you’ll need to be the best job seeker you can be to stand out.”

3. Follow industry trends

“During a recession, there will be layoffs and furloughs, and layoffs, but there are industries that will continue to grow,” Frana said. “Being up-to-date with the latest industry trends and news will help you better assess, guide and target your career search.”

More tips for navigating your job search during uncertain economic times

“Keep in mind that even in the best economies, a job search takes time and effort,” Frana said. “To find a job and avoid financial hurdles in these uncertain economic times, set clear and intentional daily, weekly, and monthly goals to stay organized and on track in your search.”

To increase your chances of landing a job, Frana recommends looking for remote jobs so you’re not limited to positions based in your immediate area. She also recommends looking for non-traditional types of work, like freelancing and multiple part-time or side gigs.

“Know that it doesn’t have to be a permanent choice,” she said. “If history is any indicator, there’s a good chance that remote freelance jobs will continue to grow, just as we’ve seen in past recessions. When economic conditions become uncertain, companies often call on to freelancers when it is impossible for them to hire a full-time or part-time employee.

Because job hunting can be more tedious in today’s economy, Frana said it’s important to practice “career resilience” – the ability to adapt to career changes and navigate all the ups and downs. and the lows of your career path. To do this, she recommends the following tips:

  • “Develop a strong and supportive professional and personal network, which can help you through difficult times and also allow you to support others.

  • Engage in lifelong learning that empowers you to take charge of your own career development and increases your resilience and self-confidence.

  • Think like an entrepreneur and know that your career is yours to manage. You are responsible for charting your own path and building your personal brand. Running it like a business gives you the power to set and achieve goals.

  • Think of today’s setbacks as tomorrow’s opportunities and think about what your career success might look like in five or even 10 years.

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This article originally appeared on GOBankingRates.com: How to Successfully Find a New Job in Uncertain Economic Times

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