During a crisis, many companies are forced to cut costs drastically, leading to massive layoffs and layoffs. If a company isn’t making money (or worse, losing money), it can’t afford to keep paying all of its employees.
If you’re worried that your job might be at risk, it’s important to get clear on your ROI. As an employee, you should ask yourself: “Am I saving or making money for the company?”
Employees who save or earn money for their company are often seen as “irreplaceable” and will not be let go even when times are tough.
Want to save your job? Here are some tips to help you stay employed during a recession.
Show them you’re a money maker (or saver)
Many companies are forced to cut costs during difficult or slow times. If the company doesn’t make money, it loses money. As an employee, you must be able to justify the value of your work if you want to keep your job. What kind of return on investment can your employer expect?
Think about the main function of your job. You bring in money in some way, shape or form. For example, an email marketer influences the bottom line by promoting products to gain new customers and return old customers. Or are you saving money somehow? For example, if you work in operations, you’re probably responsible for making processes more efficient, so less time and money is spent on them.
It may not be obvious at first, but the company wouldn’t hire you if your role didn’t help them move the needle in some way. If you can identify where you’re actually impacting the bottom line and focus on those actions, you’ll increase your chances of keeping your job.
Maximize efficiency and output
In uncertain times, you should be prepared to add more to your plate, as layoffs and hiring freezes are likely. Is it going to be overwhelming? Yes! But in times like these, you need to figure out how to be as efficient as possible to get everything done to add value (and stay sane).
So make sure you’re prioritizing effectively, focusing on the high-paying activities that move the needle and shutting out all the distractions that might prevent you from getting your work done.. Make a list of your daily, weekly, and monthly tasks/projects, figure out where your time is poor, and talk to your manager to make sure you’re prioritizing the right things.
Be clear about your expectations of your manager
It might be time to check in with your manager to make sure you’re both on the same page about what to do. There may be changes that will affect you, your boss, or your team, so be sure to touch base. In times of high stress, you may be expected to do more with less (or in less time).
Also, if your manager needs extra help, take things off their plate. Show them that you’re willing to go above and beyond to make their lives easier when times are tough (without complaining). Show that you are an asset to your team, not a liability.
Even if you’re a high performer in your organization, there’s always a chance you’ll get fired en masse. When a company goes through tough financial times, it will have to cut costs and lay off employees in order to survive. The good news is that by following the tips above, you can greatly reduce your chances of getting fired.
So keep this tip in mind and good luck!
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This article was originally published on an earlier date.
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