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I’m hopeful despite these tough economic times.

career direction tips practical advice Mar 17, 2020

Photo Credit- Uplash by Robynn Hu

I’m hopeful despite these tough economic times.

I started my career in career services in 2009, during the financial crisis, and my business in 2013 during the start of the upturn. 

With the volatility of the stock markets, the looming Coronavirus, and a subsequent economic downturn, these times can be scary. 

I started my career in career services in 2009, during the financial crisis, and my business in 2013 during the start of the upturn. 

With my history in career services, I am incredibly hopeful, and here is why. 

 1. We have an opportunity to reset the work-life balance equation-

During the 2008 financial crisis, companies had massive layoffs and expected more from the employees they retained.

The work-life balance became so off-balance because one employee would do the work of three employees. When the economy began to grow again, the expectations of our workforce remained similar to that of the financial crisis- long hours and high-performance expectations. Our workforce has become so overworked, and stress levels have become higher than ever. 

I am hopeful that social distancing allows us to have more time with our families as we explore working from home. Our workforce has desperately needed to recalibrate our work-life balance, and now it is being forced upon us. 

 2. Creativity and ingenuity are going to be more critical now more than ever-

Many companies survived the last recession such as Groupon, Amazon, Netflix, and Citigroup. There were also new companies that blossomed such as Lyft, Zoom, WP Engine, and so many more. What was the commonality with all these companies- the creativity and ingenuity behind their products and services.

Companies who work quickly to shift their business models will survive this possible downturn such as the restaurants that changed into efficient and hygienically safe delivery services, the companies that figured out how to turn their conferences virtual, and the hotels that figured out how to get customers to pre-book vacations

I am hopeful because we need your creativity and ingenuity during times like this to come up with ideas on how companies can survive and eventually thrive again.

3. Our workforce will adjust-

Yes, we are already witnessing specific industries taking a significant hit such as hospitality, travel/tourism, restaurants/service industry.

On the other hand, certain industries continue to hire, such as technology, e-learning, delivery services, and healthcare.

I am hopeful that in the next few weeks, many businesses will figure out how to remain afloat while employees work remotely, and hiring will restart with virtual interviews in the spring.

I am also hopeful that industries such as hospitality, travel, tourism, and services will pick up again over the summer.

We need optimism, positively, logic, creativity, innovation, and love more than ever. What part do you want to play during this situation?


About the Author:

Danielle Menditch Roessle, LCSW, GCDFI, CCSP, has more than eight years of experience in career development. As Founder of Inner Compass Coach, she uses a unique blend of career development and psychology to help her clients get unstuck and guide them towards a fulfilling and financially rewarding career.

Danielle has presented her one-of-a-kind approach to career transition in articles in National Career Development Association's (NCDA) Career Convergence Magazine, SkillScan, SharpHeels, the Glendale Cherry Creek Chronicle, and The Coloradoan.

Danielle earned a Master of Social Work at the Graduate School of Social Work at the University of Denver. She is the prior Events and Outreach Chair for the Colorado Career Development Association. Additionally, Danielle is a Global Career Development Facilitator Instructor.

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