If you're still employed, congratulations.
But, also....be worried.
It's a sad but true reality that even if you're employed right now, things are clearly not going to go back to normal anytime soon. A new study says that 30% to 43% of U.S. employees will not go back to their pre-pandemic jobs. For every 4.2 new hires made, there will be 10 job losses, meaning that millions of people are going to unemployed.
Clearly, there are hard-hit industries right now such as those in hospitality that are showing huge job cuts. But think of the ripple effect these jobs losses have had -- farmers who can't sell their produce or milk because restaurants have cut back so drastically.
That's what you need to consider when you think about the safety of your job. If you work for a company that has a lot of government contracts, you could be threatened as the U.S. government begins to slash contracts with private companies. Or, if you work for a business that provides service or parts for water theme parks or even Disney World -- then you're going to be in real trouble as those venues remain closed or severely restricted.
Even white collar jobs are in trouble. Think of the entertainment law firms that no longer have entertainment business to handle because television and movie projects have been postponed. What about the accountants who handle the business for resorts? Those vacation destinations have been hit hard -- how many accountants will lose their jobs because there isn't enough business?
While your job may end up being safe, you should never be lulled into being complacent right now. Here are some things you need to do to improve your chances that you'll land on your feet should you become jobless:
- Diversify your network. Look over your contacts on LinkedIn and other social media channels. If you're in advertising and all your contacts are in advertising or public relations or marketing, you're going to be in trouble should the industry take a big hit. Start looking for those in other sectors -- healthcare, tech, engineering, etc. You may need to make a real pivot to another industry -- do you even know anyone in another industry?
- Grow your skills. Try to branch out. Think about taking a coding bootcamp, project management courses or other tutorials. Check out some options here.
- Get to know your company better. A lot of employees don't really know much beyond the basics when it comes to the company's business. But if you're dependent on a paycheck from a business, then you need to know if that business is vulnerable. Do some online sleuthing, read industry publications and even try to get your boss to open up a bit about where he or she sees the company going. Paying attention may give you a heads up that your job may not be as safe as you thought.