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The media continues to report that we’re in the grip of a recession. Whilst this maybe true, I haven’t yet seen a cascade of severance and canceled projects; but that may still come.
A little while ago I offered 5 recession beating tips for Technical Professionals which discussed some proactive measures to reduce your personal risk of coming under the corporate axe, should it begin to fall. I still stand by these and I encourage you to take a look.
I’d be interested to hear if you have experienced any signs or actions that demonstrate the grip of recession. Perhaps it may be something simple as reduced budgets or a cap on spending. Maybe worse, you or colleagues have been severed. There maybe other signs at the hygiene level – perhaps travel has been reduced or the class of seat on aircraft has been brought down. The criteria for bonuses could have been increased. Who knows?
The one realization you should make is that value isn’t the target for cuts. It’s non-value that is. However, I wouldn’t expect a big payrise this year!
My view still remains is that if you s**t-hot at what you do, you’re proactive and can demonstrate your value, you’re safe. Business must still go on. Only the ‘frivolous’ business activities will be canned whilst core business activities will be strengthened. It’s times like this that an organization rationalizes and bolsters its core capabilities, as well as continuing to seek competitive advantage. Recession is a phase (a painful one) but it’s an opportunity for an organization to take stock of itself, its assets and its people. Be one of those assets.
Check out these similar posts:
- Canned Project? 3 Big Reasons Why Your Project Has Been Cancelled
- URGENT: Now Is The Time To Move Jobs If You Think You Are S**t Hot!
- 5 Reasons Why To Love The IT Industry, and 5 Reasons To Hate It
- Freelancers: How To Market Yourself in a Recession
- Common Mistakes Made In A Recession, And How To Avoid Them
6 thoughts on “Grip of recession (?)”
I have not felt or seen any sign of recession in the IT world (personally). Hope I’m not jinxing anything but I have more than enough work and have even turned down some offers.
Just hope it stays that way.
Hi Graeme – it’s weird as I am seeing that too. I haven’t met one person yet who has been affected by it. Calm before the storm? It’s hard to tell if it’s just media hype or not, but maybe we’re just lucky!
Simon I’m not so lucky. 38 of us in IT are just being axed from our employer, I’m told because of the credit crunch. I can’t say who or else I might lose my pay-off, but it’s a major player in Banking.
I considered myself as s–t hot!
I haven’t seen anything like I expected so far and I heard on the radio news today that the worst of it has apparently gone by. Not sure whether to believe it or not
@John. Really sorry to hear that John. I hope that the pay-off is what you want. This could be an important turning point for you in you career. With energy and drive you will discover new opportunities! If you’re s**t hot, you will be beating them off with a stick!
@Kitty. I guess the media will report what it has to to keep us listening. There is no harm in preparing for further recession, as it’s a positive thing to do in hard times or otherwise! See my post on 5 Recession Beating Tips