Discuss four innovative strategies to counteract possible unemployment?
Strategy 1: Make Yourself Marketable
Make yourself more marketable by expanding your skill set and area of expertise. This can be done by volunteering or seeking out internships in your prospective field. Internships and volunteering can be used as networking tools, and as ways of gaining more knowledge in the field. Another way to make yourself more marketable is by going back to school and earning more college credits or a higher degree if the prospective field. In many fields, earning certifications is highly valued by employers.
Strategy 2: Prepare for the Job Hunt
Be sure your resume is of good quality. Consider adding a portfolio to stand out even more. Practice interview questions.
Strategy 3: Relocate, if necessary
In many cases, some areas of the country offer more job opportunities for specific fields. If your area is saturated or just doesn’t have job opportunities that you qualify for, consider researching other cities or states and relocating.
Strategy 4: Change Industries
If your field is one in which job opportunities are steadily decreasing regardless of location, consider changing industries and choosing a field that has better employment opportunities.
There are several strategies the government can follow to help combat possible unemployment. One strategy would be to lower interest rates. If interest rates drop, this will encourage businesses to invest. It will also encourage people to borrow money. Both of these actions will lead to more spending that may encourage businesses to hire more workers to meet the increased demand for products and services.
A second strategy would be to lower taxes. If people pay less in taxes, they will have more money to spend. If people spend more money to buy things, businesses may increase the number of workers they hire in order to meet the increased demand for products and services.
A third strategy is decreasing government rules and regulations on businesses. When businesses have lots of rules to follow, this often adds to their cost of running the business. With fewer rules and regulations, businesses may have more money to invest in their business. This may lead to the creation of jobs.
Finally, investing in education may reduce unemployment. When people have a good education, they tend to have more skills and be more employable. This could help to reduce employment.
Strategy 1: Value your Job
Exceptional work speaks for itself and is often recognized by supervisors, so these workers are usually kept by the organization. Furthermore, this experience can be showcased on professional social media profiles such as Linkedin, PartnerUp, Plaxo, etc. which could market one’s work and experience to various organizations browsing the site for potential workers. This can lessen time in-between jobs if you were to face the prospect of unemployment.
Strategy 2: Build Social Network
Do not shy away from opportunities to participate in projects that involve another co-worker or department. Also, do not avoid business events and parties, this could be a chance to broaden your circle of associates (network). A larger network can provide cushioning against unemployment, because these persons may be able to assist you in keeping your current job or finding a new job.
Strategy 3: Working part-time and freelancing
Part-time employment or freelancing can supplement your income when fully employed in a 9 to 5 job. If you were to lose your main source of earnings, you would still have your supplementary income and a job to fall back on.
Strategy 4: Become an entrepreneur
Recessions or economic dips are plagued with lay-offs and high levels of unemployment. However, such periods are an opportunistic haven for creative individual who can make products to solve everyday problems. Entrepreneurship is a viable means of employing yourself, supporting your family and contributing to your country’s economic growth. Additionally, the greatest benefit of being self-employed is elimination of an overhead boss. Therefore, there is no possibility of being fired.
Strategy 1: Make yourself indispensable. Make sure your work is crucial to the success of your project/team/organization, so that they will think really hard before letting you go. Be ready to take the initiative and ensure maximum performance. A lot of employees suffer because they work on the sidelines. Ensure that you speak up and make your presence known.
Strategy 2: Actively search for opportunities. If you fear unemployment, put in every effort to search for other opportunities. Be a regular visitor of employment websites, let all your references and trustworthy friends/associates know that you are in the market.
Strategy 3: Update your skill set. It never hurts to enhance your skill set. You may want to enroll in online courses to brush up on management skills, computer operation, public speaking, or other courses related to your job profile. You should definitely take advantage of free MOOCs (on Coursera or EdX, etc.) to update your expertise.
Strategy 4: Explore part-time and entrepreneurship options. It never hurts to explore part time work opportunities to not only generate extra income, but also to have a back-up in case unemployment becomes a reality. It also is beneficial to search for ways to go into business for yourself.