By now, even small communities, whose local banks were not directly involved in sub-prime lending or whose major industries were not directly affected by the global financial crisis, have been experiencing wide spread job losses as recession takes hold of the world. The unemployment offices and recruitment agencies are very busy advising job seekers to be patient, to update résumés and to sign up for career enhancement training. Use this time productively to take a break, sharpen skills, build networks or generate ideas.For those who can afford to, having set aside some savings, take a vacation. The rest or change in routine will bring enormous benefits to one’s physical and mental health, restoring relationships with loved ones and generating new life altering ideas and strategies.
Updating your resume is an opportunity to set values to skills and decide which, if any, should be further developed. Noting that all skills can be enhanced, for example; a banker learning a second language to become a bilingual banker or a plumber studying management to administer a plumbing or maintenance business, the decision is really about becoming more marketable to prospective employers and being prepared for new business opportunities.
Building and maintaining a targeted network of persons with similar interest is very important, disclosing one’s skills and ambitions to be considered when and if an opportunity arises, bringing together a loyal human resource base and word-of-mouth promotion. These networks must be both physical and verbal to maximize the effect, meeting socially can replace several formal interviews and communicating experiences and ideas can land the ideal position. Volunteering is the best way to network.
For those who are still employed but can see the writing on the wall, it is widely accepted that having cash to cover six to twelve months of basic living expenses is essential. If one is not in that position now, perhaps a garage sale or cashing in declining investments instruments may help.
Creating additional income from guest lecturing (guiding others using one’s expertise and experience), part-time sales (using persuasion and networking skills to exchange goods for cash) or providing services (utilizing any equipment one already owns that may be under used, for example; using the home computer systems to produce graphic designs, manage accounting services or internet based sales or using the kitchen to produce specialty food items for sale or the sewing machine, washer and dryer to design clothing items for sale), to combine equipment and skills to generate complementary earning opportunities.
Without proper planning one is stuck in a reactionary cycle. Learning, developing and adapting is the only way to survive life’s trials.
Rationale
T.A.J & Associates Company Limited uses this occasion to comment on topics that have been covered, both academically and by the mainstream media, to add its opinion and point out investment opportunity, not to invoke any social action.
