Last week, I participated in a webinar hosted by Jack Chapman, author of “How to Make a $1,000 a Minute.”
The webinar, “Surviving the Coming 2013 Double Dip Recession,” focused on the “Trillion Dollar Meltdown,” providing attendees with a lesson in basic economic theory and explaining why recessions and inflation occur. The bottom line: he believes 2013 is going to be a hard year on our economy, and it’s going to get worse before it gets better.
But what does that mean for the average professional or job seeker? Jack recommends the following strategies:
- Enjoy the good old days. Take a moment and appreciate what you have today, and be prepared for inflation in the future.
- Be the best in your field. Focus on making yourself as valuable as possible to your organization – “the top 10 percent are always employed.”
- Build your “networld.” In other words, maintain and continue to grow a strong professional online presence. Remain visible among those in your field. Participate in group discussions, write articles, and attend events – all of these activities will help you learn of new opportunities, and put you on the radars of recruiters and hiring managers.
- Consider a second income. What other talents and passions do you have that could be used to secure a side job? For retirees, consider taking up an “encore career” to maintain a steady source of income.
- Follow the money. Explore opportunities in industries that will still be in high demand, even during tougher times. Jack recommends researching roles within regulation, healthcare and telecom, and shying away from the luxury industry, which he believes is still on the decline.
- Negotiate COLA. COLA stands for Cost Of Living Adjustment. Request a COLA when negotiating your compensation package with a new employer. This will prevent your compensation from losing its value because of inflation.
For someone who doesn’t know a lot about the “ins and outs” of economics, the presentation was interesting. However, I wish we had more time to dive a bit deeper into Jack’s job-search strategies. Judge for yourself – you can check out his presentation here.
If you’re currently on the job hunt, I recommend picking up a copy of Jack’s book. Personally, I think it’s the bible for salary negotiations. What I love most is how easy it is to follow – he gives actual examples of what to say in different scenarios, along with possible responses. He even provides a cheat sheet on negotiations at the beginning of the book for readers who need a quick refresher right before an interview.
Amanda Augustine is the Job Search Expert at TheLadders. Always on the go at work and away, Amanda trains and competes in races and triathlons in her spare time.