The US economy is in much better shape today than it was a year ago. In recent months the unemployment rate has fallen and more job opportunities have opened up.
However, the economy is still a long way from fully recovering. And given that a pandemic is still going on thanks to the Delta variant, it’s easy to see why a large proportion of workers are afraid of losing their jobs.
According to a recent survey by the National Endowment for Financial Education, 22% of respondents are concerned about job security. If you feel the same, here are some important steps to take.
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1. Expand your skills
As you become a more versatile employee, it can become more difficult for your employer to fire you if your company downsizes. Think about the skills that make you a more valuable member of the team. This can mean learning new software or brushing up on presentation skills.
2. Engage with other teams
You may be used to mainly working with a single team in your workplace. However, when you are able to expand to and work with other teams, you become a more integral part of the whole operation. And that means you might be harder to fire if there are layoffs.
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3. Be helpful
The right mindset could be your ticket to keeping your job when layoffs become a reality. Be the person in your company who volunteers for the Grunt work that nobody else wants. Or step in and agree to lead a new project that your co-workers are too nervous about. This capable, helpful attitude can go a long way in helping your manager decide who needs to be fired.
4. Network within your company
The more people you know in your company, the easier it can be to find a way to stick with layoffs. Introduce yourself to different managers and learn more about what their teams are doing. That way, if your team is specifically affected by layoffs, you can have an option to switch and join another.
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5. Develop a skill that no one else has
You may not be the only person in your company who knows how to analyze data or pay attention to details. But if there is a skill that no one seems to have that could benefit your business, such as:
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Protect yourself financially
Losing a job can mean a huge financial blow. These steps could help reduce your chances of falling victim to a layoff.
However, it can also be a good idea to get a part-time job alongside your main job. Not only does this give you some income security (if you get laid off, you still have some Cash receipt), but it could also increase your savings. And that could be just what it takes to survive a layoff if one arises.
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