Friday, January 9, 2009

Strategies to get back to work and weather the economic downturn

Whether in the workforce or at home, here are CareerMums' 6 Strategies to help you and your family weather the economic downturn and generate additional sources of income:

1. Consider volunteering work to build your skills and contacts. Use this experience to springboard into a paid role.

2. Consider contract roles. Contract roles pay per hour so know what you are worth and add superannuation on top. Always be clear about your flexibility requirements and get an ABN if you don't have one.

3. Become an entrepreneur and start your own business. Lay the foundations and start small. Gradually build a flexible business around your family.

4. What have you always wanted to do? Use this year to complete a course or start a degree. Do something for yourself and open up opportunities to generate an income.

5. What are your hobbies? Make some extra cash by making money from something you love doing. For example, if you love to cook, see if you land a casual job preparing food for the local child care centre or retirement village.

6. Be proactive and target flexible employers in more recession-proof industries. Read the CareerMums factsheet on our 'Resources' web page on how to find a flexible job.

1 comment:

Yin said...

Some great advice.

During my 20+ years in the corporate world I was made redundant...following the birth of both my girls. Coincidence or not?!

Following my last redundancy and after a 12 month maternity break, I took up a contract role thinking I would find a permanent role eventually. Well, 3 years later, I have loved the contract path. It has given me flexibility, a great hourly rated income and I've engaged in so many differing corporate cultures and job responsibilities. Most importantly, I've had the opportunity to spend quality time with my family.

My last contract finished in August 08 and the family took a month long holiday. When we returned, the global economic crisis hit followed by a slow Christmas/New Year. The job market and opportunities were diminishing before my eyes so I thought it was a great time to start a home business. It has been something I've always wanted to do.

So, while I continue to search for appropriate contract roles, I have gained incredible business skills for a small investment. Furthermore, I have met a beautiful community of people who I engage with everyday either through on-line meetings, on-line training or just chatting on our team website.

Now, I'm inspired to complete a Life Coaching Diploma.

So, be proactive and stay positive. Make the most of this time to make some changes to your current situation.

All the best

Yin Chen
Managing Director
Fly With No Limits