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Why an Economic Downturn is a Great Time to Upgrade Your Skills

According to a recent study, “the US economy will likely fall into a mild recession by the end of 2022“, and while there are various reasons behind this economic downturn (from the COVID-19 pandemic to the rising cost of living), it’s likely to come hand in hand with mass unemployment. 

After all, large and small companies may begin laying off workers to reduce spending and stay afloat. Many workers will find themselves in a precarious position moving forward. As a result, you should strive to improve job security or your employability, wherever possible, to reduce the chances of facing unemployment. 

As such, while there’s never a wrong time to boost your employability (and you are never too old to learn something new), there are many benefits to upgrading your skills during an economic downturn. 

Why an economic downturn is a great time to upgrade your skills:

There are many reasons why a period of an economic downturn is a great time (if not the best) to upgrade your skills. For example:

  • Upgrading your skills makes you better at your job and considerably boosts your performance and productivity. The more of an asset you are to your team, the more integral your role will be considered. This can provide you with much greater job security overall.

  • Upgrading your skills enhances your employability, as you are more likely to stand out from the crowd during an application process. This is particularly important considering that “the average corporate job opening receives roughly 250 applications.”

  • Upgrading your skills by engaging in further study provides you with direction and focus; as a result, it can be a great stress reliever during undeniably stressful times. This is because it offers a channel to release pent-up energy, stress or anxiety.

  • Upgrading your skills will allow you to take your career to the next level, whether you’re looking to take on a higher-paid position or pivot into a different industry.

  • Upgrading your skills will help you feel more accomplished in the professional world, which could be the answer to banishing imposter syndrome.

How can I upgrade my skills during an economic downturn?

You can upgrade your skills during an economic downturn in various ways. For example, you could ask your employer to shadow a more senior team member, so you can learn more about the inner mechanisms of your workplace and gain valuable skills. 

Alternatively, you could go back to school at Campbell college to develop a wide range of career-related skills and abilities in person or online from the comfort of your home.

At Campbell College, we allow students to participate in career training diplomas across various industries. For example, we offer the following comprehensive courses: 

What skills should I look to enhance?

The answer to this question depends, by and large, on your long-term career goals – as the skills you pick up now will impact your abilities tomorrow. However, you may want to focus primarily on some of the following skills: 

  • Administrative skills.
  • Communication skills.
  • Teamwork skills. 
  • Leadership skills. 

No matter which class you select, you’ll gain the expert insight and knowledge you need to further your career. This will provide you with greater job security and career-related opportunities moving forward. You’ll also get to meet like-minded individuals pursuing a similar career to your own, allowing you to network like a pro.  Furthermore, they will enable you to gather a wide range of transferable skills you can use in just about any industry.   

Get in touch today to find out more.

If you’d like to learn more about your classes, please do not hesitate to get in touch today. A member of our friendly admissions team will be on hand to answer any questions you might have about credentials or the curriculum of your chosen course. 

Alternatively, if you’re ready to start, click here to begin your application process – we look forward to hearing from you!  

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