How to successfully tackle the consequences of a volatile job market

With the 2020 Coronavirus outbreak spreading all across the world, this is a worrying time for everyone. Constant fears about our own personal health matched up with fears about how we care for one another has become a daily talking point. However, just as common a talking point at the moment stems from the economy. With many people being laid off due to businesses suffering an economic downturn, this can leave you worried about your future.

Indeed, reports estimate that some 20% of the workforce will be laid off in the aftermath of the coronavirus. In these uncertain times, what can you do if you wish to deal with a lay-off or the potential for a lay-off?

1.     Start preparing

From cutting down expenditure on all but the essentials to investigating severance/ redundancy options at where you work, take the time to prepare for the worst. If you worry that lay-offs could during a period of sickness, then you should closely investigate what disability coverage exists for you today.

Even a small amount of savings put by could be enough to see you survive until you can find new employment.

2.     Work on your CV

The first thing that we recommend you do is start working on your CV. The sooner you can update it to make it sound as appealing as you can, the better. You should look to make sure that you have a CV that reads well and portrays you in the best light.

If you need help optimising your CV for a certain role, look at job postings online. You can find out exactly what a company needs from their target employee; you just need to make your CV reflect their needs.

3.     Update your online profiles, also

From making your social media profiles like Facebook and Twitter more employer-friendly to utilising LinkedIn to your advantage, you should look to update all of your online profiles as soon as you possibly can. Make them more appealing, add additional information, and make sure that you are speaking to your prospective employers in clear, positive language. If you use social media for personal reasons, we would suggest either privatising your account or carefully considering what you post.

4.     Understand your job market

If you are working in a job market that is impacted upon by the coronavirus outbreak, consider how you can stand out. You won’t be the only person out of work in your field. So, look into how you can make yourself as appealing as possible to a potential employer.

Look at alternative options in your field that you could get involved with, too. This will help you to expand your horizons and make sure you aren’t one of the many applying for a limited number of positions in your primary field.

5.     Re-connect with recruitment agencies

Since you might have been in work for some time, you might not be part of any recruitment agency. We recommend getting your new and improved CV and profile involve with local, national, and international recruitment agencies. This should ensure that you can maximise your chances of being offered work; with your new and improved profiles, you should stand out more than the average job-seeker.

This is not a good time for anyone – the fear is quite gripping in many ways. If you want to make sure you can come out of this situation with a bright future, though, preparing using all of the above tips would be a good idea. It’s likely to help you brace the incoming storm and hopefully find a long-term career opportunity afterwards.

Be prepared for a challenging, limited job market in the near future. With the right steps taken above, though, you might find it easier to face the brunt of what is to come.


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