Home Notifications Newsletters Next Share

The 2022 job market is like the Wild West. Here are 5 ways employees can manage their careers right now.https://www.businessinsider.in/careers/news/the-2022-job-market-is-like-the-wild-west-here-are-5-ways-employees-can-manage-their-careers-right-now-/slidelist/93347704.cms2022-08-04T16:31:09+05:30

The 2022 job market is like the Wild West. Here are 5 ways employees can manage their careers right now.

Advertisement

Rachel DuRoseAug 4, 2022, 16:31 IST

The 2022 job market is like the Wild West. Here are 5 ways employees can manage their careers right now. — In 2022 work-from-home became a codified practice for some companies.Morsa Images/Getty Images
Some signs point to a recession, while others indicate a stable job market.
These opposing conditions have left job seekers scratching their heads.
In 2022, the world of work has become the Wild West.
Technology giants have laid off thousands of employees, inflation has soared, and, in the second quarter, the US gross domestic product decreased 0.9% — all signs that a recession may be coming. At the same time, consultancies, travel businesses, and healthcare companies have continued to hire, and the unemployment rate remained stable at 3.6% in June, according to the latest data from the US Bureau of Labor Statistics.
This whirlwind comes on the heels of a chaotic 2021, when employees' heads were spinning from vaccine mandates, work-from-home policies, and mass resignations.
To help employees navigate the wacky world of the workplace, Insider compiled a collection of career advice. Whether you're trying to make sense of the job market, fearing layoffs at your company, or hunting for a new gig, here are the pieces of advice career coaches, economists, psychologists, and more have to offer.

Advertisement

If you don't understand what's happening in the job market right now ...

If you don't understand what's happening in the job market right now ... — urbazon/Getty Images
America has entered a "precession," a phrase Insider coined and previously defined as "an awkward, confusing phase in which some economic indicators seem to portend a recession, while others suggest things could turn out to be OK."
While tech companies are being hit hard by the precession, education, consultancy, and nonprofit companies are more likely to boomerang back from this downturn.
The social and economic turmoil causing this precession has left many Americans feeling stressed about their physical, emotional, and financial health. This is why Insider spoke with business executives, hiring managers, career coaches, and economists to learn more about the job market and give suggestions to readers on how to navigate it.
Read more:
Layoffs, inflation, and stock market swings have Americans nervous. Here's a guide to managing your career in an uncertain economy.
12 career counselors reveal the industries where hiring is still hot for new college grads — even as layoffs mount
The steps that some companies took to react to the abortion decision could prove useful for crafting other policies

If you like your job but want more from it ...

If you like your job but want more from it ... — Eugene Mymrin/Getty Images
Despite bleak headlines, not everyone is unhappy in their role or fearing for their job. If you're lucky enough to fall into this category, then you may also be one of the many workers planning on asking for a raise this year.
Securing a raise means doing more than coasting — workers need to be mindful of how their colleagues perceive them and communicative with members of their team. This year, remote employees are working while traveling and logging on for nontraditional hours, which means they have to double down on efforts to stay in the loop with work.
Here's how managers and career coaches say employees can do this and land a promotion.
Read more:
Almost 50% of employees work while on vacation. Here's how to take advantage of remote-work policies while being a good employee.
4 tips to landing a raise, even during a recession
Don't let your reputation be the reason you don't get the job or promotion. Career experts explain what to do.

Advertisement

If you're laid off ...

If you're laid off ... — Getty Images
Nearly 62,000 technology workers — including those from companies such as Coinbase and Twitter — have been laid off in 2022, according to the tech-industry-layoffs tracker Layoffs.FYI.
Simultaneously, in a survey of 1,004 working US adults in June by the staffing-solutions firm Insight Global, 78% of respondents said they were scared of losing their jobs in the next recession.
But rest assured, layoffs do not usually come out of nowhere, Eli Joseph, a professor at the Columbia University School of Professional Studies and the author of "The Perfect Rejection Resume," previously told Insider.
And even if they do, Insider has compiled advice from top career experts on how to move forward in your career after being laid off.
Read more:
Don't underestimate your exit interview. Career experts share the 6 most common questions and how to answer them.
5 steps to take if you lose your job, from leveraging social media connections to building a network
4 ways to overcome the stigma of layoffs and find a new job in today's economy

If you decide you want to job hop ...

If you decide you want to job hop ... — EmirMemedovski/Getty Images
This year, the US job market witnessed record quit rates, particularly in the retail, food-services, and hospitality industries.
Job seekers are taking advantage of high wages and job openings. In a tightening market, candidates need to put their best foot forward, develop a personal brand, and ace interviews.
But in your haste to leave, be wary that you're not overlooking red flags. In a recent survey, 72% of Gen Z respondents who just started a new job said they felt regret because the role or company was not what they believed it would be.
Here is how to find a new job in this fluctuating economy.
Read more:
Should you change jobs with the market and economy in turmoil? Here's how to decide as decades-high inflation makes employers rethink their strategies.
Here are 5 tips for job hunting in a slower economic environment — even a recession
How to build an unforgettable personal brand that will help you switch careers, land your dream job, or snag a promotion, according to marketing experts
Job seekers are accepting offers only to find the reality is nothing like the recruiter sold them. Here's how to make sure it doesn't happen to you.

Advertisement

If you're looking for something new ...

If you're looking for something new ... — Freelance worker working from the van while taking a road trip.MStudioImages/Getty Images
For some, a traditional 9-to-5 role will lead to burnout, feelings of discontent, and job insecurity.
Last year, 15.5 million Americans took the leap and became digital nomads — working remotely from far-off places in the world. Meanwhile, some Americans have opted to take on two jobs at a time, balancing corporate calendars that increase their earnings and experience.
Whether you're looking to work less or more, Insider has advice on how to make the most of your unconventional career.
Read more:
I worked 2 full-time corporate jobs for 4 months. Here's how I turned them into a promotion and higher salary
The digital-nomad lifestyle is more accessible than ever. Here's how to become someone who can work from anywhere.
Burned out and want to quit your job? Try being a slacker first, a career expert says.

Next Story Here are the cities that saw the most hiring in t...

Advertisement

View All Latest

Advertisement

Copyright © 2023. Times Internet Limited. All rights reserved.For reprint rights. Times Syndication Service.