Workers seeking job security during the ongoing economic slowdown should ensure they have up-to-date skills, according to the Chartered Institute of Management Accountants (CIMA).
Employees keen to secure their positions within a firm should make certain they have an up-to-date CV, it has been suggested.
Victor Smart, a spokesperson for the Chartered Institute of Management Accountants (CIMA), explains that workers should also make certain their skill set is updated on a regular basis.
"If you've got good skills, if they're up-to-date and they are relevant you will be in a much better position to survive than if your skills are rusty or irrelevant to the modern economy," he adds.
Mr Smart states employees seeking a pay rise will be able to tell by Christmas whether the UK is headed for a shallow recession which will be "over and done with" in a relatively short period of time, or if it will be a longer-term issue.
Should the former be the case, then it could be that people can ask for pay rises, while if the second is more likely, it may well be that unemployment is going to rise.
As such, people may well be advised to err on the side of caution when it comes to asking their bosses for things such as salary increases, the CIMA representative adds.
Mr Smart makes his comments following the publication of research by Tenon Recovery, earlier in the month, which showed record calls for help from firms in the motor, property, leisure, retail and restaurant industries in November and December.
It also suggested the company's findings may be a precursor to a potential epidemic of insolvencies next year.
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