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With unemployment rates rising, the financial market going nuts, and big telecoms companies planning layoffs, it’s hard not to worry about a recession here in the Caribbean.
In recent months, leaders from all around the Caribbean have been implementing measures in hopes of reducing the impact from this ongoing global recession. And like every other Caribbean island, Dominica is slowly beginning to feel the affects from the global financial crisis.
Most of us are in no position to do the analysis ourselves, but you don’t need to be an economist to know that if people are talking about recession, you should do some thinking about what you would do if one occurs.
But since we’re not actually in bad times right now, the real question is, what do you do in a job you have if you want to get ready for a downsizing in the economy? Many Dominicans are not aware of the direct affects this recession can have on their livelihood and keeping their jobs. Here are three ways to prepare for a job market that might turn sour:
People then to think that if there are fewer jobs, a wide range of skills makes someone more employable. It’s not the case, though. In a tight job market as ours, employers can hold out for the perfect fit. And if you are not clearly defined as a specialist, then you are not going to be a perfect fit for anything.
If you only have a few years of experience, and you see layoffs threatening, try getting involve in some focused, short-term projects that will allow you to market yourself as a specialist in something when you have to get your next job.
Consider graduate school
In a down job market, grad school is a way to enhance your skills when there are no available jobs that will do that. Grad school can be a treacherous route, though: Be careful about spending money for a degree with no career path to follow it. But also, be careful of investing in a career path you wouldn’t want to follow.
Focus on the quality of mentoring
By cultivating a great mentor in your current job, you can make your job a spot where you can wait out an economic slump should one come. So instead of focusing on the negative predictions of economic doom, focus on the positive conversations that build a solid mentoring relationship, and you will weather the storm better because you won’t weather it alone.
Are you beginning to feel the affects from the recession? What are you doing to protect your career? Tell us about it in the comments.
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