Why the tech industry is one of the most recession-proof industries

Whenever the economy looks like it's going to slow down, it's natural to feel like it's safer to stay at the job you have, even if it's not the job you wanted has or would like to have.

However, in difficult economic times, it is advisable to take stock and look for ways to make your professional career more secure and fulfilling.

Which jobs and industries are relatively safe in a recession?

Most career counselors will tell you that industries and professions that must be pursued regardless of the general economic situation are safe from the dangers of a bad economy.

Healthcare, legal, education, government, and finance are all areas that are independent of the general economic situation. The problem is that many of these fields either require advanced degrees or have other high barriers to entry.

However, it is becoming increasingly clear that there is one sector that is more resilient to recessions: technology/information technology. According to jam-packed (a digital industry association in Germany) expects further growth in jobs in the technology sector in the next few years.

Taking the time to invest in a career that will continue to provide opportunities for years to come is a critical factor in securing your future professional development.

Why is the technology industry one of the most recession-proof industries?

Starting in 2020, with the Covid-19 pandemic, we observed how businesses that relied on face-to-face service delivery and face-to-face contact struggled to adapt to the restrictions imposed by the pandemic.

This meant that more and more companies had to create and/or improve ways to reach their customers and clients without compromising security. In other words, they needed a digital presence to survive.

Now that things are returning to normal, if not a more relaxed approach to social distancing, some companies are discovering the benefits of the digital infrastructure they have created.

Tech companies are not just Meta (Facebook), Apple, Microsoft, Google and Amazon. Today, every company is a technology company. To be successful in the digital age, a company needs UX - and UI-Designer , to create the information architecture and digital presence the company needs to interact with its customers.

It needs full-stack developers to code its platforms, data analysts to determine the relationships between business decisions and outcomes, and digital marketers to reach the widest possible audience.

Recession-proof industries also need product managers to develop and organize a strategy and vision for the things they produce.

Any company that does not employ or contract these technical professionals will be left behind by their more agile competitors.

If you want to recession-proof your career, invest in learning the skills that will be in demand now, next year, and for decades to come.

Look for ways to match your new skills with the industries that are essential to a smoothly functioning society:

• The provision of services in Healthcare will increasingly focus on electronic medical records and Telemedicine which requires a whole range of technical specialists to develop, build and maintain the corresponding platforms.
• Education service delivery will need to improve in terms of the digital delivery of education to pupils and students at all levels, from primary school to university.
• Banks and insurance companies have already begun the transition to a digital model of customer service. As they make more and more services available digitally, they will continue to need skilled professionals with the know-how to keep their services functional and up to date.

How can you upskill to avoid stagnation and become more valuable to your employer?

Even if you are happy with your current job and have no plans to leave, it makes sense to invest in your professional development.

Take stock of your company’s core business and consider how it might change in the future. Is it a recession-proof industry? What skills will you need to stay competitive and avoid being replaced?

If your job involves dealing with customer needs, it makes sense to learn how to use UX and/or UI design to better anticipate customer behavior and needs and develop solutions that help customers achieve their goals faster and easier can.

If you work in public relations/sales, digital marketing and data analysis can help you better understand how to connect with your customers. They also help you understand the impact of different offers on your business.

And finally, in almost every function it makes sense Programming knowledge to acquire and build the digital infrastructure to support an online business.

Is it better to focus on a degree or practical training?

Die Technology has always been a field where what you can do is more important than what degree you have. A practical demonstration of your skills and value is enough to get you in the door.

That doesn't make it easy: to stand out from the crowd, your work has to show the value you bring to the table.

When it comes to job hunting, there are no prizes for second best. Job seekers and Lateral entrants who take every opportunity to optimize their learning, make their portfolio a true reflection of their new skills and understand how they will add value to the job they are applying for (and are not afraid to emphasize this at every opportunity), are valued by employers.

The benefit of a hands-on, project-based learning experience is that you can learn at your own pace, utilize the materials and create a unique portfolio, and allow you to continually apply your new skills in your current position.

Final thoughts

So there you have it. Regardless of the current economic challenges, it makes sense to invest in your future.

The number of jobs in the technical sector will continue to increase, and every company must have a digital presence in order not to run the risk of being left behind by the competition. Recession-proof industries are also future-proof industries, which simply means that technical skills will stand the test of time.

Knowing exactly how these careers impact your company's bottom line or how you would use them in a new opportunity can help ensure you stay employed and are happy with your career.