Recession- Keeping Your Job Safe

Recession is such a bad situation where you cannot predict when your company will go into loss and when it will start laying off jobs. No matter how efficiently you have worked in the past, if you can't prove your worth in today's context, you are bound to be laid off. So what's it that will keep your job safe? There are some reasons for which anyone gets laid off earlier than others. If you avoid those causes, chances are that you'll survive. First reason is the cost of an employee to the company. If you are costlier than what you produce, you are gone. Another reason is bad attitude towards work- if you can't stretch your limits to include more works that you can do for your company then also you will be fired. There are some other reasons too. However, there are many ways that can be adopted to prove your value to your company. To know the reasons of getting laid off and the ways to prove your worth, read How to Keep Your Job Safe during Financial Crisis

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Handling a Possible Layoff while Still in Employment

Although the severe recession time is over, the risk is not all clear. It will take some more time for economy to get stable and recession to be wholly out of scene. So, along with knowing about how to keep your job safe during financial crisis, you must also be prepared for a layoff. Here are some ways to tackle with this grave problem.

Create an Emergency Fund: Keep some of your money aside to cover your basic living expenses for about six months. This should include paying your rent or mortgage, buying monthly supplies of food and repaying loan premiums. It will be wise to keep them away as short-term deposits so that you earn interest as well as they are available in the near future without any loss on interest.

Cut Back on Your Expenditures: Refrain from buying expensive items that are not basic to your living. In fact, this way you'll save money for your emergency fund too.

Keep Away Your Credit Cards: Don't be tempted with those credit cards. Debts call stress and they are complete “no no” when you are seeing layoff in the near future. If you have to use these cards, do it cautiously.

Enlarge Network: Try to get known to as many people as you can in your field of work. A lots of friends and contacts in industry means a better chance of finding work quickly in case you lose your job.

Enhance Your Skills: Use your downtime (when you are not working) as an opportunity to develop your skills and knowledge to a higher level. This can even help in making changes in your job profile- some other work that hasn't got affected by recession.

In these tough times, layoffs can come across anyone's way. Know how to talk to a friend who's been laid off. This may result in your friend helping you in your tough times!

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