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Recession Alert: Precautionary Tactics
Bob Weinstein is a journalist who covers technology, project management, the workplace and career development.
No one knows for sure what lies ahead. Are we likely to head full tilt into an all-out recession, or will it just be an inconsequential business slowdown? Whatever the scenario, this is the time to think smart and make good career decisions.
In this special job market outlook, we’re going to pass on some tips and advice that can help you if there is recession.
If you’ve got a job, hold on to it. Recessionary economies are bad times in which to change jobs. Count your blessings if you’re fortunate enough to be working for a healthy and stable company that’s been around for a long time. While even the best of companies can suddenly hit rough water and sink faster than the Titanic, generally speaking, if your organization makes staple products that are purchased regardless of the economic tides, your job is relatively safe.
Remember Enron
But as we’ve said repeatedly before, job security no longer exists, and everyone--even presidents and CEOs--is expendable. If you want proof, go back to 2001 and read what happened to Enron and a few other well-known companies.
Who could have imagined that Houston-based Enron, the sixth largest company in the United States at the time, would go bankrupt? Prior to its demise, its 22,000 employees felt that when they retired, they’d have a comfortable nest egg, a good …
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