Does a Recession-Proof Career Exist?

The saying goes, “You know you are in a recession when your neighbor is out of work, and you know you are in a depression when you are out of work.” As we learn that the economy affects industries and people in different ways, can anyone claim they are truly insulated from the current economic morass this nation faces? The answer is a simple “No.” But, there are 4 steps one can take to solidify employment and alternatives if work has already concluded.

Now in the 2009 the economy continues to show no sign of significant improvement. President Obama has formed his economic team and outlined a national agenda to stimulate the economy and boost confidence. But, regardless of the specifics, the American people can expect two things: patience and a bumpy road. Many people are already looking for work. Indeed, the unemployment rate is pushing twenty year highs of 7%, home sales down nearly 6%, and major corporations are seeking massive federal bailouts. No matter how you feel about the auto industry, as many as three million people may be forced out of work should they collapse. This means entire communities positioned for great uncertainty. No more employment, no more endowments, no more local economic sustainability, it is that simple. From Detroit to Manhattan, Silicon Valley to Des Moines, everyone will feel the pain, if not already, and the pain may linger indefinitely.

The following four suggestions are tips to help distinguish yourself from your peers. It won’t make you recession-proof but may make you more attractive to keep when cutbacks become imminent.

The Economy is Cyclical – Ride the Storm
No more than ever, standing out in your profession matters. Are you a thought leader? Have you published any position papers or internal memorandums that show initiative or intuition? Become known in your industry as the person who rises above the fear and puts planning and action first. In fact, in times of crisis, coworkers look for leadership; among an overload of information and confusion, a sound and steady voice will make a valuable asset to the team and to your clients.

Think Macro-Specific
We all have specific expertise but in times of need we must diversify. This requires a closer look at the big picture and what areas of interest or skills one can apply elsewhere at the firm. The proverbial “wearing multiple hats” becomes an even greater mantra. Being narrowly focused and specialized is a defensive strategy. It is a scare tactic to say you lose me and you – the employer - lose control of the department. The contrary behavior is to teach your skills to others freeing up time to take on other responsibilities for a more complete picture of the company and its impending challenges. You are then seen as a leader, teacher, team player, and provider. Companies need these types of workers now more than ever.

Audio Professional Development
Reading a book sounds simple but this takes time and requires touch, site, and sound. When can you afford all three of these at once in the hectic lives we lead? Consider turning your iPod or other MP3 device into a learning center. Use your lunch breaks, your commute to and from work, or working out at the gym as means to improve your skills. Sure, start with some Sinatra but then skip to books on professional development. Boost vocabulary, learn to negotiate, or any other self-help topic. On my iPod now is “Into Thin Air,” by Sebastian Junger, a story of endurance, survival, and tragedy of climbers scaling Mount Everest. Overpowering the environmental elements is an amazing metaphor for industry and the economic freeze we currently endure. Lots of lessons can be obtained by listening and learning.

External Professional Development
Fearing job loss may not seem like the smartest time to take on more responsibilities, especially if not job related, but as it turns out it is. Brush up on qualifications. Visit your local university or industry association for latest certifications or latest thought. They may have recommended readings or trade journals to help reinforce the macro-specific role you play, as mentioned above.

For those unemployed the option may be to seek an even more formal education in the form of an MBA. The MBA, however, is not just for those unemployed. The Executive MBA is also an option, although the time and cost must be evaluated with the benefit.

Getting an MBA is not a far fetched idea during a recession. According to the Application Trends Survey, by Graduate Management Admission Council, of full-time programs, 77% of business schools had an increased number of applications in 2008, the highest rate in five years. That compared with 64% a year earlier. Part-time and executive MBA programs also had higher numbers. The survey covered 521 graduate management programs in the U.S., Europe and other parts of the world.

You are not alone in thinking about business school but you may be if you are thinking about business school while maintaining full time employment. A little known program designed for older adults with at least seven years of work experience known as the Executive MBA may be the professional development necessary to solidify your standings with a coworker or boss. More than 250 business schools around the world offer full time workers the option of attending school one weekend once or twice a month. Some schools offer weeklong sessions every two months. The education refines existing skills, enhances others, and positions you up the corporate ladder or at your next place of employment should your position be eliminated.

Recession Proof Future
A recession-proof future does not exist but there are ways to minimize redundancy. Any of these suggestions given above are worth further consideration. Go ahead and download an audio book, discuss with your boss or co-worker on getting more involved, pen your vision of what the business will look like one-year from now and what steps must be taken to get there. Think about acquiring more knowledge either in the form of reading industry specific journals, auditing a certification program, or getting an MBA through one of your local business schools that offer the EMBA program.

EMBA World is a New York City-based organization dedicated to helping employees and employers understand options regarding graduate level business education and in particular the Executive MBA. Jason A. Price, MS, MBA, is Director of EMBA World and author of The Executive MBA: An Insider’s Guide for Working Professionals in Pursuit of Graduate Business Education. Jason is a frequent speaker to media on graduate business education issues and publishes industry articles periodically on the subject. The Insider’s Guide can be found at online bookstores or at EMBA World www.EmbaWorld.com. You can reach Jason A. Price at Jason@embaworld.com.