Remote job security appears to be job #1 on the minds of workers frightened about the coming recession.
80% workers are insecure about their job
How many workers are worried and anxious about reductions in weekly hours worked, furloughs, and outright job losses? Almost 80% to be exact, says Insight Global.
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If you are unmoved by the statistics, jump to the bottom of this article to read our suggestions for steps to take to ensure greater remote job security during a recession.
56% fear they are financially unprepared
Employee sentiments were based upon surveys of 1,000 of workers in the US in June 2022. Additional findings follows:
- almost one-quarter of workers in America are ‘extremely worried’ about losing their job in the recession
- approximately 50% of non-managerial American worker expressed more worry about job loss than managers (34%)
- about 56% of workers aren’t ‘prepared financially’ or ‘don’t know how to prepare’ for a recession.
These feelings of worry and anxiety related to impeding unemployment doom may seem like an over reach. For many, however, their fears may be resulting from kernels of truth. Fortunately for workers holding remote jobs or are searching for a remote job; for the most part, occupations that can be worked virtually do not appear to be in the direct line of fire.
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Types of jobs in the line of fire during recessions
For instance, Betterup provided research to show that these jobs are the worst jobs to have during an economic slowdown:
- tourism and hospitality
- arts and entertainment
- real estate (housing and commercial)
- construction and renovation
- human resources*
As you can see, *human resources tasks that can be completed in a traditional in office setting and while working at home. Regardless of the working arrangement: hybrid, remote or in house, workers fulfilling these roles can take a hit during a recession.
So, if you are searching for a job, remote or not; please take care to understand that the primary functions of a human resources officer working in a human resources department are to: assess internal talent pool, conduct job assessments, identify gaps, advertise job vacancies, recruit, pre-screen candidates, interview, perform background checks, make an offer, negotiate, place the new hire, orient them and train them for their new role. I know this seems like a lot of steps leading up to an eventual hire. But, when the economy takes a dip, there are fewer human resources professionals to carry out these essential functions.
So, understaffing may be one of the reasons why the recruitment and hiring process can take ages! But I digress.
Recession proof job types
On a positive note, one of the best ways to ensure job security during a recession is to already work in a recession- proof occupation. CNBC Make it, identified these jobs (we only list those where tasks can be completed while working from home):
- private banker
- media director
- sale consultant
- marketing and business development director
As a precaution, Peter C. Earle was quoted giving the readers this recommendation, “do not leave, or take, a job unless you’re absolutely sure you have something secure waiting for you on the other side,” he says. “This is not the time to shuffle jobs.”
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Most secure jobs in 2023
So unless you are a recent college graduate or college student yet to embark upon your professional career, it might be best to heed Earle’s sage advice. However, if you are recent college graduate and college student here are the most secure jobs in 2023 according to US World Report.
- web developer
- financial analyst
- school psychologist
- database administrator
- medical records technician
- information security analyst
- software developer
If one were to play the devil’s advocate and say that we (1) do not hold one of the coveted jobs and/or , we (2) do hold a targeted job for possible reduction in hours, furlough or loss, what can we do?
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We can either hold tight in our current position while upskilling for another value-added role and/or upskill to remain competitive in this tight marketplace. For shrewd employers are always on the lookout for someone who can do your same or comparable job faster, cheaper and with higher quality.
That said, here are some strategies to take to make yourself more marketable and more valuable in a down economy:
- make sure that in your performance of the job you presently hold, when you take a day off, you are missed my your colleagues and employers
- ensure that your role is essential to the company. If this is not totally feasible (you work in marketing for a engineering focused company), ensure that you as the individual are indispensable within your unit, department or division
- make determinate that the insight and value you add is baked into your specific knowledge base that can be very difficult and costly to automate
- upskill to incorporate some of the skills in high demand into your current role. For instance, if you are a short order cook at a restaurant, do mental math calculations that drive the small nuances of adaptations of flavor/food/seasoning preferences of diners in your restaurant during your shift. Knowing what and how to pre-plan and prepare make you indispensable even though your job has been technically commoditized.
- ensure that you as an individual provide a role that is deemed essential for the company to attract, secure, and maintain a specific demographic or society as a whole.
- resolve to be the lowest cost and highest value producer in your company for the role you currently hold so that the company will incur exorbitantly high costs to replace you.
