Worried About Job Security In A Recession? Here Are 6 Recession-Proof Jobs To ConsiderFeb 02, 2023
The signs are everywhere, in every business, and the anxiety is made worse by the news every night. Is there any wonder that many workers are worried about a potentially approaching recession? They look around offices and see fewer and fewer people. They see concern on the faces of company management.
Statistics suggest that, more than ever, workers are dissatisfied with their work situations. However, no matter how miserable it might be at work, many feel this is a dangerous time to leave, even a bad situation. Kathy Goughenour, the founder and CEO of Virtual Expert ® Training has seen this movie before. When asked if she thinks this might be an excellent time to start a freelance or virtual assistant business, she doesn't skip a beat!
“There is still a myth that working for a corporation is secure,” Kathy said. “Wake up, people! That time is gone, and it will never return.
“So, what is real job security these days? I believe it's knowing how to find, get, and keep clients for yourself. It is having a business that you are in control of and where you have multiple clients. When one client goes ‘bye-bye’ for some reason — perhaps their revenue decreases, they retire or get ill, maybe you don't like working with them, or they don't like working with you — you still have other clients that are paying you.
“Imagine you have a business where you have all the clients you can handle, plus a waiting list or an email marketing list of 15 to 1500 prospects. How much more secure does that feel to you than being a number at a company? As someone who has been through the 2008 recession as a self-employed virtual assistant, I can tell you that knowing how to find, get, and keep clients for yourself is MUCH more secure. When you have that knowledge, you will always have work, always have an income, and also have the freedom and flexibility you crave.”
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The Best Recession-Proof Jobs
When recessions occur, typically, companies try to reduce payrolls and other overhead expenses. This situation screams OPPORTUNITY for people who are skilled in services that remain in high demand.
Kathy points out some of the best recession-proof jobs for anyone considering becoming a virtual assistant today. These include:
- Tech services — managing all types of software platforms such as Kajabi, Kartra, Keap, Ontraport, Mailchimp
- Marketing — digital marketing, social media marketing, email marketing
- Project management — In the virtual world, project management is managing projects to ensure they are done on time and accurately — it's not the engineering level of project management that requires a degree and certification.
- Writing — blog posts, articles, sales pages, opt-in pages, books
- Search Engine Optimization (SEO) services
Who are the top clients who need these services?
- Entrepreneurs — More millionaires are made in recessions than any other time because entrepreneurs know how to take advantage of opportunities.
- Medical professionals — doctors, dentists, therapists
- Pet professionals — veterinarians, pet sitters, and walkers
- Course creators/trainers
- Plumbers, electricians, and other trade occupations
Have a Plan
Before becoming a virtual assistant or freelancer, what should a current employee do to help make the transition occur smoothly?
“Start now,” Kathy says. “Start BEFORE things get dire or desperate. Start before you lose your job. Start your business as a side hustle while you have your job. Grow your business, and then you'll have options. Want to keep your job? You can. Want to quit your job and focus solely on your business? You can. Lose your job? No problem, you’ll already have your business running and bringing in income — all you have to do is transition to full time.”
Recession = Opportunity
“According to an August 2022 survey of the freelance marketplace, 85% of business owners say they plan to freeze hiring because of rising operating costs, inflation, and a potential recession, and 43% say they plan to hire freelancers.
“’There will be more jobs available for freelancers because, during a recession, one of the first things companies do is cut their overall labor costs,’ says Lindsey Cameron, an assistant professor of management at the Wharton School at the University of Pennsylvania who studies the gig economy. ‘They’ll transition from workers being employees to having more independent contractor spots.’”
The signs are everywhere. Which route will you take?
Ready to begin your journey to a freelance or virtual assistant role? Book your Breakthrough Session with a member of the Virtual Expert® team to begin your journey.
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