Insight on Coaching

Coaching Through a Recession

Season 5, Episode 12 - Air Date: August 25th, 2008, 11:00 am PST


Audio File - Length 54:44, File Size - 25.0 MB

During difficult economic times, many businesses find themselves forced to make cuts.  With the national unemployment rate now at 5.7 percent – the highest level in four years – it appears more challenging to sustain a career during a recession. 

  • What are the career impacts of a recession? 
  • Is it possible to recession-proof your career? 
  • How can coaching help one to survive a recession? 
  • How are coaches working one-on-one with individuals to help guide them in their careers and make the best choices? 
  • Why is utilizing a coach even more critical to ensure success during a slowdown? 

In this program, we’ll learn best practices from coaches and also talk with career experts on current recession situations and solutions for individuals.

Guests

  • John A. Challenger, CEO, Challenger, Gray & Christmas, Inc.
  • Krishna De, Executive Coach and author of 42 Rules to Market in a Recession
  • Wendy Enelow, Coach, Author, and President, Enelow Enterprises, Inc. & Resume Writing Academy
  • Amy Lindgren, Expert, Columnist, Author, Founder and President, Prototype Career Service
  • Rich Milgram, Founder and CEO, Beyond.com, Inc.

Summary

According to a survey that appeared in the April 28th, 2008 issue of USA Today, two-thirds of 52 economists polled said the U.S. economy is in recession.

As quoted in the August 9th 2008 issue of Newsweek, according to the Bureau of Labor Statistics, the national unemployment rate is now at 5.7 percent, the highest level in four years, and now with two consecutive quarters of falling GDP, “America is bracing for a recession.”

Combine the above with rising energy prices, an unstable financial sector, and an overall decrease in the amount of jobs available, many people are nervous about the impact of the economy on their livelihood and careers.

In his article titled “Strategies for Surviving the Slump”, Business Week writer Chris Farrell says “The big fear during a recession is layoffs, and the best move may simply be to try to make your current position more secure.”

But how can you make your current position more secure during a recession? Is it possible to recession-proof your career? And how can coaches help you survive a recession?

Our panel of experts address these questions and more. Highlights of the show include:

  • A discussion of the indicators and trends that indicate our economy is in recession.
  • Why it’s important to not let fear and self doubt consume you during a recession.
  • How to successfully market yourself during a recession.
  • Strategies to help you “stay on the island” in the workplace during a
    recession.
  • Why skills like relationship management and networking become even more important during a recession.
  • How coaches can guide and motivate people during a recession, as well as help them retain and find jobs.

This podcast is part of the Insight on Coaching series. For additional information, visit the Insight on Coaching Home Page.