Move, Stay, or Pivot? Uncertain Times Make Career Choices Different For Many
An uncertain economy can lead to your definitive choices on trainings, strategizing to pivot.
Should you stay or should you pivot?
The current economic climate is complicating the career paths of millions due to the factors of unpredictable layoffs, hiring freezes, pay reductions, and a general fear of culture changes and imposed, sudden and unforeseeable actions..
How that plays out for leaders, managers, and colleagues on different career trajectories, industries, and levels of progress on a management ladder varies widely. But it is remarkably different from the Great Resignation sparked by COVID-19. While some fields suffered sudden layoffs, that stretch of time also enveloped many with a positive sense of possibility for entrepreneurship rallies and pivots into daring careers.
What this also means is growth for new types of work, that may require you to acquire different skills, leadership training, and job experience in order to not to suffer a downturn. It is also important to note that being cautious is not complacency. Staying put to actively work to assure a solid future is neither compromise nor defeat.
“Complacency is the enemy of sustained or even maintained progress,” says Gloria Feldt, co-founder and president of Take The Lead.
“#Complacency is the #enemy of #sustained or even #maintained #progress. —Gloria Feldt, Co-Founder and President of @takeleadwomen”
You can make progress to tone down uncertainty by taking action to explore new possibilities. Now is the ideal time to seek and acquire skills and leadership training to assure your position is solid or to shift to a healthier niche in a different organization or a different geographic area altogether.
This is a different time than the downturn caused by COVID. The Bureau of Labor Statistics shows that back then, nine million Americans filed for unemployment in the first two weeks of COVID in 2020. Add that to four million people who quit their jobs each month at the height of the Great Resignation in 2022.
Today, instead of leaving on their own, thousands are getting laid off from federal jobs or having their funding cut, so their employers are letting them go. Most all these moves are completely unexpected. The Department of Government Efficiency actions have resulted in in more than 30,000 layoffs of federal employees, with more in the future across many different fields. And even as some are rehired shortly or the firings deemed illegal, the interruptions are costly and unsettling. A recession is not out of the question.
Read more from Gloria Feldt on moving from despair to power
Add to that news that the Labor Department reported an increase of 150,000 jobs in February of this year, a softening that increased the unemployment rate to 4.1 percent.
At the same time, a recent study of more than 2,000 businesses finds that, “Within the past year, nearly half of all businesses have lowered the pay rates of certain employees. Additionally, it appears smaller companies are more likely than larger corporations to implement these changes.”
Looking ahead to 2025, “one in three companies expect to encounter hiring freezes, and 31% of businesses expect to lay off employees in the months to come,” the research shows.
Women in the workforce and in the leadership pipeline are affected, according to the OMFIF’s 2024 Gender Balance Index. “The share of women across all senior staff roles in the index increasing to 31% from 29% in 2022 – marking the first time this figure has exceeded 30%. But representation continues to thin at higher levels, dropping to 26% for deputy governor and C-suite positions, and falling to 16% in top leadership roles,” the report states.
But you can take action.
Read about high turnover workplaces in Take The Lead
In her latest book, Get Real About Thriving in 2025: The Ultimate Guide for Anyone Ready to Take Control, Let Go of Distractions, and Live Their Best Life in 2025, author Jennifer Barrette writes, “Thriving today doesn’t look like it did for past generations. It’s about creating a life that feels good for you.”
So if a plunging stock market makes you worry about quitting a less than ideal job, then perhaps stay in order to train and prepare on the side for a career you would love. It’s not about being stagnant, it’s about being careful.
“So if a plunging #stockmarket makes you worry about quitting a less than ideal job, then stay in order to train and prepare on the side for a #career you would love. It’s not about being #stagnant, it’s about being #careful. ”
Learn more about Take The Lead’s 9 Leadership Power Tools Course
“It’s learning how to live in a way that feels satisfying for you—even if that means opting out of traditional expectations,” Barrette writes.
At Take The Lead, new courses aimed for those seeking entrepreneurship, as well as courses for those climbing a more traditional career ladder, can lead to a solid solution. “Maybe the current crisis has given you time to reflect, to reconnect to your deepest desires about what you want in your life and who you want to be—are meant to be. But the path forward might not be so clear,” Feldt advises. Then you can learn strategies to strategically pivot.
Learn more from Gloria Feldt on how to Pivot With Power
If leaving a job feels precarious and unwise, then work on skills so you can augment your value and types of projects. If an offer elsewhere feels solid and enduring, then take it. Now is the time to be intentional, not impulsive.
“If an #offer elsewhere feels solid and enduring, then take it. Now is the time to be #intentional, not #impulsive.”
Honor the choice you make and have a plan for a backup, with contract work perhaps or launching a side hustle without making a huge investment. If you have a cushion, now could be the perfect time to take on training in a new field with great promise, such as AI, cybersecurity, or wherever growth looks promising in your area.
Of course not all areas of the country are experiencing the same economic impacts lately, nor are all industries. You can investigate the trends in your geographic area by studying the trends at Tipstrategies.com. And if you have flexibility, you may be able to move where the job market is better or you can work remotely for a job in a different city or state.
Read more in Take The Lead on pivoting in your career
For instance, the charts show that in December 2024, the most jobs were gained in the New York/New Jersey area with 136,500 jobs. The greatest loss was 7,500 jobs in Columbus, Ohio.
The Federal Reserve Economic Data monthly reports on trends in jobs and a number of other projections about employment. This can help you see trends; for instance, if you live in an area with a downward trend of employment, it would be best perhaps to look for alternatives. But if you live in an area where employment trends are good, then you would be inclined to stay.
ZipRecruiter’s 2024 Labor Market Outlook features actionable insights regarding the top job characteristics workers want, current trends in employee benefits, evolving remote work practices, changes in educational requirements, and demographic and geographic trends, among others, across 10 key industries. These industries include: Construction; Education; Financial Services; Government; Healthcare; Hospitality; Manufacturing; Professional & Business Services; Retail; and Transportation & Warehousing.”
Depending on what your niche and level of experience, job title, management experience, and skillsets are, you may be one of the lucky ones left standing in a work role you enjoy, or you may be trying to fulfill your own goals in new and expanding industries.
Read more in Take The Lead on reacting to changing careers
Authors Betsy Wills and Alex Ellison write in their 2025 book, Your Hidden Genius: The Science-Backed Strategy to Uncovering and Harnessing Your Innate Talents, “As we bob and weave through a changing career landscape, we have new opportunities to maximize our skills, find jobs that reflect our personal values and destabilize lasting work stereotypes around gender, socioeconomics and race.”
Wills and Ellis write, “Given the ever-evolving workplace, constantly changing skill requirements and a vast swath of employees suddenly wanting more fulfilling work, knowing your aptitudes is vital.”
“Given the ever-evolving #workplace, constantly changing skill requirements and a vast swath of #employees suddenly wanting more fulfilling #work, knowing your aptitudes is #vital. —@betsywills & Alex Ellison”
