Uncertainty is everywhere, and it seems like things are only going to get worse before they get better. As accountants, we are used to dealing with numbers and financial statements–things that are often more certain. But the current marketplace is healing in a direction decidedly less definite.
It was noted by CNN that 72% of economists expect a recession by mid-2023. Accountants are fearful their job may be the next one on the chopping block. So how can we prepare for this uncertainty? Here are several strategies accounting professionals can use to recession-proof their sills and come out on top!
Take Stock of Your Skills
The first step is to create a skills inventory. This is a list of all the skills and knowledge you have that are relevant to your job. Include everything from your education and experience to your personal strengths and weaknesses. This will help you identify your strengths as well as the areas where you need to brush up or learn new skills, making you more employable should you need to find a new job.
Be proactive and search out opportunities to learn new skills. In today’s workplace, it is more important than ever to make your presence known. Get involved in projects, join committees, and volunteer for assignments. This will not only make you more visible to management, but it will also give you a chance to showcase your skills and abilities.
With the ever-changing landscape of the workplace, it is important to review your role and responsibilities on a regular basis. Make sure you are clear on what is expected of you and that you are meeting those expectations, securing your position with the organization. If there are any areas where you feel you could be doing more or you’re confused about what you should be doing, speak up.
In any organization, there will always be some level of redundancy. But in times of uncertainty, it’s important to analyze your work and see if there are any areas where you can streamline or eliminate redundancies. This will not only make you more efficient, but it will also free up your time and resources for other projects.
Know Your Organization
It is also important to know where you fit in the organization. Who are the decision makers? Who do you need to keep informed? Who are the influencers? Knowing this will help you navigate the organizational landscape and make sure your voice is heard. Managers will see you as an asset and be less likely to cut your job during lean times.
Part of preparing for uncertainty means being a team player and helping out wherever you can. Remember that we are all in this together. We all have different skills and knowledge to offer, so use yours to help others. This is a time when we need to rely on each other more than ever before, and it will help your organization see you as the asset you are.
Prepare for Uncertainty
Another way to recession-proof your skills is by building a personal brand within the accounting profession. Your personal brand is the image you project to the world, and it will be a valuable asset as you navigate the uncertainties of the workplace and marketplace. Make sure your social media accounts showcase your expertise and understanding of the industry.
No matter what industry you’re in, networking is always important. But it becomes even more important during times of uncertainty. Attend industry events, join professional organizations, and connect with other professionals on social media. A strong internal network demonstrates your value. In the event you are laid off, you can use your external networks to mitigate the situation, ensuring you are back to work as quickly as possible.
When it comes to dealing with change, it’s important to be proactive, not reactive. Actively seek opportunities to grow your network. And when changes do happen, don’t be afraid to take risks. Reach out to someone you may not have reached out to in the past. You never know where it might lead.
In times of uncertainty, it’s important to become greater than your role. What can you do to add value to the organization? How can you help others? When you focus on how you can help the organization, you start to think more like a business owner than an employee. This is a valuable skill in times of uncertainty when many businesses may need to pivot at a moment’s notice which makes you more valuable to the company as well.
Keep Imposter Syndrome In-Check
It’s normal to feel like an imposter from time to time, especially when you’re faced with uncertainty. But it’s important to remember that you have valuable skills and knowledge to offer. You are where you are because you have essential skills. Believe in yourself and your abilities!
The ability to adapt to change is an important skill in any workplace, but it becomes even more key during times of uncertainty. When things do get tough, remember to be resilient. It’s okay to stumble, but what matters most is how you get back up. Having a plan and completing the previous steps will help with this.
Be flexible and willing to try new things. The ability to adapt is one of the most important skills you can have in today’s marketplace. When current events force businesses to pivot, they appreciate employees who are able to adapt quickly and help them navigate these changes.
These are just a few things you can do to prepare for uncertainty in the workplace and marketplace as an accountant. Stay calm, be flexible, and be willing to adapt. The most important thing you can do during times of uncertainty is to stay positive and keep moving forward. By following these strategies, you will be in a better position to weather any storms that come your way.