You know that the world of work is evolving. The talk of automation and AI is commonplace, rather than something that only science fiction enthusiasts talk about.
In such an environment, it is natural to be worried. The main worry tends to be: “Will I lose my job?” The thing about worry is that it multiplies when you are not certain of the answer.
So here are some tips that will help you transform your worries into a healthier attitude towards facing your fears about losing your job:
#1. Build a cushion:
Create an emergency fund from within your savings. Transfer 50% of your savings into a debt fund. This will firstly add higher returns to your savings and the task of moving the funds from your bank account to a fund will prevent you from withdrawing this amount in an impulsive moment. How much cushion do you need? Approx 6 months of your expenses should do. Here’s our thinking in detail.
#2. Get personal health insurance:
Health emergencies are a major drain on the pocket, especially if you lose your job. You will lose the insurance provided by your employer and you will not have a steady income to pay for expensive bills.
#3. Upgrade your skillsets and knowledge base:
Identify the skills you will need to stay employable and grow in your chosen career. Acquire them, invest in them and promote them on your professional profiles. At the least, these additional skills demonstrate initiative on your part, and they will help you get to your next career milestone.
While the first two tips will help you get a sense of safety during uncertain times, the third tip will help you get the right the job for your qualifications, without having to settle for something lesser than what you deserve.