Fighting “Recession Depression”

Posted on June 26th, 2009 by Keith Ferrazzi

People today are shortchanging themselves — that’s the silent tragedy of economic recession. The 5 to 10 percent of Americans who are unemployed and struggling lead the headlines, understandably. But how about those with jobs? The crappy employment market reduces people’s expectations around satisfaction, advancement, and pay. “Just be glad you have a job” rolls off everyone’s tongue and suddenly you’re stagnating.

Earlier this week I suggested one possible remedy, what I call "drafting" off your work goals in Who's Got Your Back - trying to find ways to make work goals serve your personal goals.

Now I put the question to you: Are you experiencing "recession depression" in your workplace? How are  you fighting it? What are you doing to continue to grow personally and professionally despite obstacles to progress?

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15 Responses so far | Have Your Say!

  1. Hello Keith, love your work. Thank you for getting back to me via Facebook. I am fighting by focusing on projects in and outside of the workplace. In fact I am hosting an event for entrepreneurs this Tuesday in NYC. I have mustered up my confidence and courage and just decided to go for it and just do it. Thanks for the message again. And wish me luck for my event on Tuesday. Thanks!!

  2. Keith I really enjoyed reading who's got your back. I have a dillema I am faced with I work for a national bank making a decent wage but I feel I am wasting my time. I have two books published with a third coming out soon. I have not made a fortune or even a real weeks worht of pay from my books yet (hoping this third one put me on that path) so I can't quit my job with the company I have been with the last five years. I also do some public speaking so far I have done two engagements which I did not get paid but I really was gratified. I network and network but only get empty promises. I need help with branding, making the right impression, and advice on what I should do. I know this is not the end of the road for me but I am becoming anxious and impatient yet still patient. Thanks!

  3. I am in the work of media sales and have spent this time researching and learning as much as I can about all the new tools available for small business owners. I am thrilled with the downturn because it has allowed our company to embrace innovative techniques for serving our small business clients better. We started FastTraining that started Synergy Sessions which are similar to your lifeline type groups that you discuss in your book. I see so many more people and have gotten closer to them then when the economy was booming. I pray for those that are finding their way through a difficult job market and have hope that when things turn around the world will be a more connected place.

  4. Keith, I find that the lack of job security that the recession provides can act as a catalyst for someone to seek for ways to make themselves more marketable. It would be easy to let the 'recession depression' get to you, but just as easy to let it motivate you to make something more of yourself. Personally I have a few plans to put into effect in my free time that I think will help me increase my value as an employee, and I expect my management will recognize that as well (but even if they don't I will still have the personal gratification of seeing myself grow).

    Thanks again for dropping by and speaking at Amazon, it was a real pleasure to receive some of your advise in person.

  5. I work in the real estate industry in Southern California. We have been hit by dropping prices just like every where. There are so many agents in the area who are crying the blues about how hard it is to sell a home right now. It occured to me the agents crying the blues are the same agents that came into the market about the time the real estate market took off and was hot. They never had to learn how to sell, it just happened. Now we do have to work harder, but there has not been this great of a time to purchase a home in many years. The loans are available and the prices are afforable. The opportunity for real estate agents are great. Yes, it does take work, but anything worth working for does. It is also a time to sharpen the selling and marketing skills. Learning during this period only prepares us to be stronger. Also, like the book "Who's Got Your Back" states, it a great time to build our relationships with others.

  6. Keith,
    I have not ready your book yet but intend to. I have found this time of unemployment to be a gift. I have learned that I am not as afraid of not having work as I was when i was working. I have also learned more about myself, what I want to do, what I have to offer and what life can be all about. I have met so many amazing people through my networking. From this I realized I had been living in a small world and with people who didn't make me push my envelope. I have grown through these relationships.

    I am currently making a decision between a full time job with benefits and a 3 day a week consulting gig without benefits. The consulting gig could not be a better match. In the past I would have gone for the security of the full time job rather than following my passion. It is time for passion to be a part of the equation.

    Thanks, Lynn

  7. Doug Schmidt says:
    June 29, 2009 at 4:14 am
    Reply

    Recession depression - interesting topic. I had an interesting year last year that was full of challenges. One of my friends just lost a lot of money becuase one of his clients went bankrupt. He had an interesting phrase - "Doug, this is time for a reset for everything". Basically what he meant was that we/I can'e be doing the same things the same way and expect different results. To fight off the blues I started to watch less tv, read more and start building back my relationships that I did not maintain. For example, using LinkedIN I contacted people I used to work with. I just had a discussion last week with ex fellow worker from 1990. We may be doing some joint projects together in the future. Keith keep up the great work!

  8. Right on, Keith. You've nailed it on the head. These are tough times, not only economically, but also emotionally. We can't rely on our managers or our companies to pump us up. We must tap into our own motivating purpose and re-activate ourselves. Career depression is a slippery slope and misery loves company. This negative state must be avoided.

    I find that one of the most productive ways to motivate myself is to stay active with my professional networking. Approaching networking with the spirit of "helping others - asking for help" is a great way to create a win/win. To help you have more fun and get more results with your networking, I recommend Keith's book Never Eat Alone. It is an inspiring, informative and motivating resource. I can't wait to purchase and read your newest book "Who's Got Your Back?" Thanks Keith for continuing to offer your guidance, thought-leadership and motivation to those who want to make life better.

  9. Call me crazy, but I find that being a contractor, has ramped up work for me in all directions. I can't say that I've ever been this busy or happy. It almost feels...Dare I say.."criminal?"
    You're very right Keith, people ARE shortchanging themselves. There is definitely work if you look in the right places. However emotionally rundown and beat up we feel, now is the time to get back up and dust yourself off. Now is the time that we exude whatever strength that we're made of. Keep up the good work! I love your articles!

  10. TO Chris and others out of work, please know it's not my intention at all to downplay that challenge. It's not easy - keep fighting and reaching out to those around you! Things will get better.

  11. Ambal Balakrishnan says:
    June 29, 2009 at 10:19 am
    Reply

    Hi Keith:
    Thanx for raising these thoughtful questions. It does take a lot of effort to ensure one holds a positive attitude during these tough times. A great book that I read recently discusses how one can stay above all the negativity in the media. It is Rajesh Setty's Upbeat. I quote from the author "The goal of the book is to give hope and inspire people to take some action irrespective of the market conditions. Why? Because what they can do is the only thing that they can control. They can’t control the economy or the marketplace conditions but they can choose their response to what is happening externally."
    Read more at
    http://www.rajeshsetty.com/resources/books/upbeat/
    Thanx again for making me stop and think.

  12. Hello,

    Thank you, for helping others by asking our goals.
    I am taking a ‘One Year Success Program’, I am learning Latin on my own, and will start ‘Dummies for PowerPoint’ next week when I get the book. I spend Friday night with friends I do not get to see anymore. Call people up and see what they are doing. Instead of dinner and movie we find activities of interest in our local area. My areas of growth computers, better writing and social skills I lack all of the above. Instead of focusing on my lack I decided to read and develop these areas. Doing these things has removed some of my fear of the unknown

  13. Christopher Frawley says:
    July 2, 2009 at 11:05 am
    Reply

    Keith,
    Thanks for your thought provoking posts.

    How am I combatting it? by not changing a thing.

    I completely tune out the doom and gloom in the news. I pay it zero attention. I'm focused on my agenda (that also includes bringing some sunshine to everyone I interact with) which I can control. The minute you get "sucked in" then you've got to muster the positive energy to combat negative thinking. I think it's much more effective to use all my available energy and focus to keep moving forward in the direction of my dreams. It's only a downer if you let it be so. Good luck with everything.

    Chris

  14. Great topic! As you know the 'recession depression' can have different implications for those of us who are self-employed. There's a good article on this in the June 2 NY Times: http://www.nytimes.com/2009/06/07/magazine/07unemployed-t.html

    My July 5 biz@home column (Cape Cod Times) outlines 5 ways those of us who are self-employed can avoid a downhill slide into despair. Here are my 2 faves:

    1. Stay curious. Call me Pollyanna if you must, but I actually do trust that something good will come out of this uncertain time. I often feel a sense of adventure. I'm curious what might come next in my work life.

    2. Use this gift of time well. This isn't just about furthering your professional or business development by networking, taking classes, and so forth. Those should be a given. I'm saying use some of your free time to do whatever gives you joy. My partner Mayrene (also self-employed) and I have been taking wonderfully long bike rides — right in the middle of the workday. I know there will come a time when these mid-week rides, all too rare when work is in high gear, will be among a cherished memory.

    Marilee

  15. Our leaders are really the ones who jeopardize the workforce---the ones in charge. If you would like to read more about being a servant leader don't hesitiate to read "The Servant Leader" by James A Autry. He touches on how to build a creative team, develop great morale, and improve bottom line performance.

    What did I take away from this? Well, if we work as hard as the bottom teir in business, like being a start-up, then we can find leadership in the journey. We can't be solely reliable on our leaders, because when they fail us then we have nothing or nobody to turn to. We must be attributing our strengths to an inner battle, that we persistently overcome in pursuit of working healthy.

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