Though people might not have known it when the world-renowned ball began to descend on New York City’s Times Square shortly before midnight on December 31, 2019, the year 2020 would prove to be one marked by considerable challenges.
Many people will rejoice as the calender turns from 2020 to 2021, even though the economic fallout of COVID-19 is likely to be felt well into 2021. In a survey of 235 economists conducted by the National Association for Business Economists, roughly 80% of respondents indicated there is at least a 25% chance that the U.S. economy will endure a double-dip recession.
Each January people resolve to make changes in an effort to improve their lives. These resolutions can serve as a catalyst for personal and professional growth. According to Statista, finding a new job was the eighth most popular New Year’s resolution in 2019.
Given the economic challenges of 2020, professionals unhappy with their careers may think twice before resolving to switch careers in the year ahead. And while switching careers in the midst of a prolonged economic downturn may seem risky, there are ways to continue on the path to a new career even if the economy is struggling.
Stay the course f you have been working toward a career change then it’s important to stay the course. That’s especially important if you are changing careers because your industry was already suffering prior to the recession. Much of the world has paused during the pandemic, and struggling industries on life support are no doubt still struggling. So staying the course now puts you in better position to jump ship before your industry crashes.
If your efforts involve going back to school, stay in school and keep working toward your degree or certificate, which could prove to be a professional life jacket should your industry crash during an economic downturn in the coming months.
Keep looking ust because the economy is struggling doesn’t mean businesses aren’t still hiring. While some industries have suffered mightily during the pandemic, others have thrived.
U.S. Unemployment figures reached historic highs in June 2020, but those numbers had already declined significantly by the end of summer. That’s because companies were hiring. Opportunities are out there, even if the economy is struggling.
Maintain your professional connections etworking is a valuable tool when looking for a new job. Successful networking can provide access to job openings that may never be posted on online job boards. And in the age of social distancing, many professionals working from home full-time or those who have been grounded for business traveling are happy to connect with colleagues, even if those connections are limited to Zoom calls or email.
While a recession may not be the best time to make a career change, all career transitions require some measure of risk. Professionals committed to changing careers should not let economic downturns prevent them from doing so. (MC)