Arm yourself with a recession-proof mindset
One of the most alarming developments in recent months is the military escalation between Israel and Iran. This renewed tension has triggered fears of a major Middle East conflict, with significant implications for oil markets and the broader global economy. Israel's latest strike directly targeted a key Iranian nuclear facility, while Iranian missiles hit an Israeli hospital — a dramatic escalation from prior tit-for-tat skirmishes. While a full-blown supply-side oil shock has so far been avoided, the risk is clearly increasing. Brent crude oil prices surged by over 10% at the onset of the conflict and remain elevated in the $70–$78 per barrel range — well above pre-escalation levels. Likewise any other existing conflicts in any part of the world today could also escalate to worsen the economic conditions of the world.
Rising energy prices not only strain national economies but also tighten business margins and reduce consumer purchasing power. Add to this the lingering effects of supply chain bottlenecks and interest rate pressures, and the outcome is clear: global recession fears are intensifying.
In such challenging times, fear and uncertainty are natural. Many employees worry about their future and whether they will be the next to go. However, there is a better way to work during periods of economic decline — by cultivating a recession-proof mindset through proactive, positive, and productive work behaviours.
Here are seven proven strategies to develop that mindset and thrive, even in the midst of economic turbulence:
1. Do What Others Are Unwilling to Do
Having advised organisations through three previous recessions, I have learned that one key criterion leaders use when deciding whom to retain during downturns is attitude. Specifically, they look for employees who willingly take on tasks others avoid.
In a recession, many organisations freeze hiring. As employees resign or retire, their responsibilities are often redistributed rather than replaced. While some may grumble about the added workload, this is a golden opportunity to stand out. Employees who adopt a positive attitude and step up during such times become indispensable. Managers remember those who rise above their job scope — not those who retreat into their comfort zones.
2. Produce Extraordinary Results
When the economy is thriving, excellent performance can easily go unnoticed because everyone is doing well. In contrast, during a downturn, even modest successes stand out. Now is the perfect time to exceed expectations. Make more sales calls. Win over that difficult client. Complete projects ahead of time. Deliver more than what is asked. When others are merely trying to survive, those who achieve results will shine and be remembered.
3. Solve Problems That Matter Most
Recessions often force companies to shift priorities. What was once important may no longer be urgent. Employees who can adapt and realign themselves to address the company's current challenges become especially valuable.
Rather than sticking rigidly to your old job description, seek out what your organisation needs most today. Is it customer retention? Cash flow optimisation? Operational efficiency? Step forward and help solve those issues. Aligning your contributions to critical business needs is not only helpful — it's a survival strategy.
4. Develop a Unique Skill
In today's competitive environment, it is no longer enough to just 'have a degree.' What makes you different? What can you offer that no one else on your team can?
A recession is the perfect time to sharpen your edge. Pick up a new skill that's relevant to your company's transformation goals — such as data analytics, AI robotics, change management, or digital marketing. I recall a senior administrative staff member who survived several rounds of downsizing because, in addition to her core duties, she had earned a certification in change management. She was later promoted to lead an organisational transformation initiative. Be that kind of employee — the one who brings more to the table than expected.
5. Take Responsibility
During difficult times, companies cannot afford inaction. Speed, decisiveness, and ownership are critical. Employees who complain or shift blame will find themselves irrelevant. In contrast, those who take charge — who identify problems and implement solutions — are the ones leaders rely on.
Stop waiting to be told what to do. Look for what needs to be done and do it. Be proactive. Speak up. Take ownership of outcomes. In a crisis, gratitude is expressed in results, not memories. Your past contributions may be appreciated, but your current actions will determine your future.
6. Be a Change Agent
Many employees sit on the sidelines during a crisis, adopting a wait-and-see attitude. 'Why put in effort?' they reason. 'The company might fold anyway.' This kind of defeatist thinking becomes a self-fulfilling prophecy.
If everyone waits, nothing changes. This is precisely when companies need change agents. Look around your department. What process can be improved? What cost can be saved? What team morale can be boosted? Lead that initiative. Whether it's a quality improvement project, customer service enhancement, or sales transformation — be the one who moves people forward. Those who lead change are remembered long after the crisis is over.
7. Go the Extra Mile
Recessionary times are not for the faint-hearted. They demand greater commitment, more effort, and stronger teamwork. This is the time to roll up your sleeves, put in the extra hours, and do whatever it takes to help the business succeed.
The old saying rings true: 'When the going gets tough, the tough get going.' It is during these trying moments that your character is revealed. Be the employee who stays behind to finish a project, who checks in on clients without being asked, who brings solutions to the table. Going the extra mile isn't about working harder for its own sake — it's about demonstrating loyalty, drive, and leadership when it counts the most.
Former U.S. President Ronald Reagan once remarked, 'A recession is when your neighbour loses his job. A depression is when you lose yours.' His words carry a powerful reminder: don't wait until the storm hits your doorstep to act.
True job security no longer lies in tenure, titles, or even talent alone — it lies in mindset. In any economic climate, the individual who commits to growth, contribution, and excellence will be wanted everywhere. So arm yourself with a recession-proof mindset. You may not control the global economy, but you can always control how you show up in the workplace.
Dr. Victor S.L. Tan is the CEO of KL Strategic Change Consulting Group, a leading firm in strategy, leadership, and organizational transformation. He was formerly the Corporate Planner at Public Bank Berhad and a Manager in Accenture's Change Management Division. He has authored 21 books, including The Lessons of Success of Tan Sri Teh Hong Piow, founder of Public Bank. His bestsellers Changing Mindsets and The Secret of Change — the first motivational book in Malaysia in rhymes recognised by the Malaysia Book of Records. His company received The BrandLaureate Award for its outstanding impact on organizational productivity and profitability. Contact Dr. Tan at 012-390 3168 or [email protected].
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