Please check out this fantastic article by Fortune Magazine with our president, Matt Warzel, as a contributor – How to win a promotion during a recession, according to 4 career experts.
I was fortunate enough to be featured in this fantastic article by Fortune Magazine: 𝗛𝗼𝘄 𝘁𝗼 𝘄𝗶𝗻 𝗮 𝗽𝗿𝗼𝗺𝗼𝘁𝗶𝗼𝗻 𝗱𝘂𝗿𝗶𝗻𝗴 𝗮 𝗿𝗲𝗰𝗲𝘀𝘀𝗶𝗼𝗻, 𝗮𝗰𝗰𝗼𝗿𝗱𝗶𝗻𝗴 𝘁𝗼 𝟰 𝗰𝗮𝗿𝗲𝗲𝗿 𝗲𝘅𝗽𝗲𝗿𝘁𝘀
A global recession is the worst time to be looking for a promotion, right?
And today, with layoffs, budget cuts, and hiring freezes dominating headlines, the hallmarks of a global recession have certainly been ticked off for many of America’s biggest employers.
Indeed, a survey sent out by the World Economic Forum to chief economists in January found that two thirds of respondents believed a recession would happen in 2023—nearly 20% of them considered it “extremely likely”.
While many have pushed back their estimations on when the recession will hit, the Organisation for Economic Co-operation and Development‘s (OECD) business confidence index has continued to fall since the start of 2022.
And it’s true, with businesses pessimistically tightening the purse strings as they prepare to weather an economic storm, a promotion and pay can be a hard sell to make.
But while experts agree that it’s certainly harder to get ahead in your career during a recession—they have inside tips on how candidates can best set themselves up to make it happen.
Competition vs collaboration
Sordell was echoed by career coach Matthew Warzel, who said that building rapport with colleagues not only shows you’re a leader but can give you better oversight of the company’s goals. In a recession, he explained, companies are more focussed on generating revenue and cutting costs.
For people outside of sales functions it can be harder to demonstrate your worth on the bottom line but by working with other departments, you can identify projects and initiatives that you could help support or move along, he continued.
“Be open to new ideas and willing to take on new challenges, even if they are outside of your comfort zone. Analyze the market and see if there are any new opportunities that your company could capitalize on,” he added. “Bring your ideas to your supervisor and be prepared to demonstrate how they could benefit the company.”
Chime in over here and join the conversation.
View the photo version of the article here in case it’s behind a paywall:
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