View each morning as a fresh new start. Let go of the past. Don’t beat yourself up over prior career ... [+]
You’re not alone. It’s easy to get despondent over the current circumstances. The new normal will offer declining stock and home prices, layoffs and belt-tightening for both families and businesses.
After a short-lived jolt of enthusiasm, epitomized by a rocketing stock market and robust job market, the United States has hit a wall. Inflation, talks of a recession, an escalating war in Eastern Europe, stock market plunges, rising political tensions and corporate downsizings characterize this new era of austerity.
Inflation will eat into your paycheck and leave you with less discretionary income. With stocks in a bear market, you’ll suffer from the inverse of the wealth effect. As the Federal Reserve Bank raises interest rates, the cost of a mortgage rate increases. Due to the higher costs, many families won’t be able to afford to purchase a home. Those with adjustable mortgages may be unable to hold onto their homes because of the higher payments. This will cause home prices to fall. A family’s home is usually the largest portion of its net worth.
Businesses, concerned about the uncertain future, have been—and will continue—enacting layoffs to cut costs. They’ll also put in place hiring freezes and rescind job offers. When people leave of their own volition, the company will gladly accept the attrition and won’t replace those who’ve left. The workload will be dumped on the remaining workers.
You Have To Make A Choice About How You Will Handle This New Reality
You have two choices in this new environment: lament your fortunes and submit to the negativity or you can decide to take active control over your work and life, despite all the challenges.
If you’ve opted for the latter, congratulations! You will likely be more successful navigating this different economy and job market. Here are some tips on how to stay positive and motivated—even when everything goes against you.
View each morning as a fresh new start. Let go of the past. Don’t beat yourself up over prior career decisions. If you haven’t been called back for a second round of interviews, instead of taking it personally, try figuring out what you may have done wrong and how you can improve upon it the next time around. If you want to be brave and bold, reach out to the interviewers who rudely ghosted you and politely ask why they passed on your candidacy.
Positive Actions You Can Take Right Now
Set a goal to become 1% better every day. Read business books and articles about the sector you work in. Take online courses to upskill yourself. Try to learn some light computer coding.
Seek out a mentor and career coach. There’s no reason to do everything by yourself. These professionals can offer sage advice and guidance. Instead of learning the hard way, a mentor can offer lessons they’ve learned and assist you in bypassing pitfalls. They can provide introductions to executives that can change your career trajectory.
A career coach can help you out with any rough spots. For example, if you are not comfortable speaking up in a meeting or to an audience, a coach can help you prepare and overcome your discomfort. Accept feedback and constructive criticism, as it will help you to improve and grow.
You’re not an island unto yourself. Reach out to colleagues, managers and others within your organization when you have questions or feel stuck. Listen to people from all levels when they talk. You’ll be surprised how much you’ll learn from everyone, ranging from a young Gen-Zer to a top executive.
Position yourself as resourceful and a go-to person when others need help. You’ll build a reputation as someone who isn’t afraid of hard work, is there to offer assistance and a team player. These skills will enable you to survive layoffs, as everyone you’ve helped would fight for you to remain as you’re deemed an irreplaceable asset to the company.
How To Cope With Past Career Decisions
Think of your work life as a marathon. Maybe the first leg of the race didn’t work out as well as you’d hoped. There could be lingering regrets over the college you attended or your go-nowhere major. You may be overly obsessed with your inability to have procured a job with a top firm immediately after graduating from university, feeling you missed the fast track. You look at others and are jealous of their seemingly easy path toward career growth and high compensation. The key to succeeding is letting go of the past and brushing off these defeatist and debilitating ruminations.
If you are miserable in your dead-end role, it’s time for a change. There is no reason to suffer the daily indignities of a job you hate. Take action to find something new that will make you happy.
Avoid tying yourself up with a job or career just because it’s what your parents and society expected of you. One of the reasons people walk around feeling miserable is that they are wearing golden handcuffs. Told since you were young to become a doctor, lawyer or any other well-paying job that would enhance your social status, you now realize you hate what you do.
It’s Never Too Late For A Do-Over
It's never too late to be the person you always wanted to be. One of the great things about America is that it's acceptable to try something new, fail, brush yourself off and start all over again. No matter how old you are, you can still reinvent yourself.
Consider everything you want in a job or career. Calculate what it will take to go on this journey. Research the skills, education and credentials needed in this new endeavor. Check to see if this profession pays well, is somewhat recession resistant and whether the sector offers long-term growth. Once this criterion is met, then pursue the “new you” with gusto.
Stop Complaining And Engaging In Destructive Habits
Instead of complaining to your co-workers and family every day, think of things that you are appreciative of and grateful for. When you constantly vent to colleagues and friends, they’ll tune you out after a while.
No one wants to be around someone bitter and angry. It won’t be an attractive look to your boss. Managers don’t particularly like malcontents and workers who gossip and spread rumors behind their backs.
Try being positive instead. Look at the positives of your job and reframe the work you do. Think of all the good things you’ve accomplished and how you’ve helped others.
Spend less time on social media, arguing politics and binge-watching shows on Netflix. Allocate more time to exercising, learning new skills and building a network of like-minded people who can help each other do better. Don’t listen to sad music, watch violent movies or argue with trolls on Twitter. These actions wear you down and put you in a bad headspace. Consume positive related information from podcasts, YouTube videos, self-help books and uplifting articles.
