The word “recession” sends shivers down the spine of even the most secure professionals. Whether you’re just starting out or deep into your career, the uncertainty of a looming economic downturn makes everyone wonder: Will I lose my job in this recession?
Let’s cut through the panic and hear some honest insights from a real HR professional who has seen the ups and downs of the job market firsthand. Understanding what HR looks for in tough times can help you prepare, adjust, and even thrive during economic uncertainty.
What HR Considers During a Recession
When a recession hits, companies often need to tighten their belts. This can mean layoffs, hiring freezes, or budget cuts. But how do HR departments actually make decisions about who stays and who goes?
1. Performance Matters More Than Ever
HR manager Emily, with over 15 years in the industry, says, “In tough times, companies are focused on efficiency. We look for people who bring the most value.” If you’ve been consistently delivering results, hitting targets, and adding value to the company, your position becomes more secure.
Tip: Now is the time to make yourself indispensable. Focus on measurable contributions and highlight your achievements in team meetings or reports.
2. Versatility is Key
“Employees who can wear multiple hats are often seen as assets,” Emily explains. During a recession, companies want employees who can adapt and take on different roles when needed. Your ability to jump into different projects or learn new skills can be the deciding factor that keeps you on board.
Tip: Expand your skill set by taking on additional responsibilities or cross-training in other areas of the business. Flexibility makes you less dispensable.
Common Misconceptions About Job Loss in a Recession
Myth 1: Senior Employees Are Always Safe
You might think that the longer you’ve been with a company, the safer your position. But that’s not always true. “Experience is important, but companies also look at cost. Senior employees often come with higher salaries, so they might not always be safe if budget cuts are steep,” says Emily.
Tip: If you’re a senior employee, think about how you can leverage your experience to mentor others, lead strategic initiatives, or improve processes.
Myth 2: Only Low-Performers Get Laid Off
Performance isn’t the only factor at play. “It’s not just about whether you’re a top performer or not. Sometimes, entire departments are downsized regardless of individual performance,” Emily shares.
Tip: Keep communication lines open with your manager and HR. If you see potential downsizing in your department, express your interest in moving to a different area within the company.
How to Recession-Proof Your Career
While no one is completely immune to the effects of a recession, there are things you can do to strengthen your position and weather the storm.
1. Build Strong Relationships
“HR doesn’t make layoff decisions in a vacuum. Your manager’s input is key,” Emily says. Make sure you maintain strong relationships with your supervisors and team. Being well-liked and respected can sometimes tip the scales in your favor during tough times.
2. Keep Up with Industry Trends
HR departments love employees who are forward-thinking. Stay updated on industry trends and be proactive about bringing new ideas or technologies into the company. If your company is struggling to innovate during a recession, you might just be the person who saves the day.
3. Consider Additional Income Streams
“Sometimes, layoffs are inevitable,” Emily admits. It’s wise to prepare for the worst by diversifying your income streams. Whether it’s freelancing, consulting, or starting a side hustle, having another source of income can give you some peace of mind during uncertain times.
Final Thoughts from HR
At the end of the day, layoffs during a recession aren’t always personal. They’re driven by business needs and numbers. But by focusing on performance, versatility, and relationships, you can significantly reduce your chances of being let go.
So, will you lose your job in this recession? The honest answer: it depends. But with the right mindset and actions, you can make yourself invaluable and increase your job security even in tough times.
