7 Strategies to Credit Crunch Proof Your Career

Every time you open a newspaper nowadays, the first thing you see is the current fear of a recession, the credit crunch, the banking crisis and the difficult days ahead with a downturn of the economy. It seems obvious that there will be cost cutting measures within some organizations, which in turn triggers fears of downsizing. Keeping this in mind, it is better to credit crunch proof your career when there is still time. Even if your company is not affected right now, it is necessary that you build up a strategy to safeguard yourself. There are no magic answers or sure shot solutions but these tactics can help to give you confidence and an added edge.

1. Update your skills and learn new skills: Now is the time to invest more in yourself. Update your skills in your current areas of work. Similarly, learn new skills like IT skills. You may take up new courses or trainings that will enhance your resume and can prove to be helpful not just in your current job but also any new opportunities if the need be.

2. Target your resume for specific jobs: Design and develop a resume that is fully targeted for a specific job that you are applying for. It should not be a generic list of your qualifications and experience. If you are unable to do so yourself, invest some time in learning this skill. Only a professionally targeted resume can take you further to an interview level. Your resume should stand out from the rest and should be appealing enough to the employers.

3.Get yourself noticed: At your current job, take efforts to be noticed. Make sure your boss is aware of your achievements. If you are given an opportunity for a new role and responsibility, take it up. If you are involved in a very important project, you may be safer than most.

4. Make yourself indispensable: Be ready to take on new tasks even over and above your usual activities. Volunteering to take on new tasks helps in making you indispensable as a person who can undertake any activity happily. That will help list you out as an important team member not worth losing. Find ways to contribute innovatively to your company. Be an active team player.

5. Start networking: It helps having a good supportive network. Keep in touch with former colleagues in other organizations, you previous bosses etc., which can help you find other job opportunities whenever the need arises. Be equally helpful to your contact as far as possible, as then only can you expect them to return the favor.

6. Plan your finances carefully: Building up your financial reserves is necessary. Even if you may be given a redundancy package it may take some time to come. If you have some financial reserve to last you at least 6 months, you would not go deeper in the trough. Plan you finances carefully with your current job at hand.

7. Don't hide: Do not make yourself invisible, considering that you would not get axed because of it. Get up and prove yourself so that you become a bit safer. Your clients and boss need to see results now. Try to solve immediate needs.

You can credit crunch proof your career by taking some wise decisions and making the effort to enhance your skills. Be alert and positive and work hard to get yourself in a better position during these difficult times.