A recession 📉 is looming. It's all over the news. And that means impending layoffs.
Companies prepare in advance for a recession.
I bet your company is preparing right now. Are you?
👋🏼 Hi, it's Raj. Welcome to Product Playbooks. Every week, I dive into reader questions about the challenges of working in product teams.
Send me your questions, and I'll provide no-fluff advice in an actionable "1 hour playbook" format. Let's jump into this week's play...
Q. I’m worried about this recession. Do you have any suggestions on how I can protect my PM job?
Did you notice that PM roles are among the first to be cut at many companies? This is especially true if you work in a tier 2 or 3 company (one that has not embraced Product Management).
I once heard an executive describe the PM role as a support function for the two “book-ends” of the business: Sales & Engineering.
In such companies, PMs are not empowered to own the Product. They are relegated to delivery and support activity, rather than value-based work.
PMs who work in “feature factories” are more likely to be perceived as performing low-value activities.
So what can you do about it?
Here’s a play (that you can follow through on) to bulletproof yourself 💪🏼.
Ready to get started? Find a quiet place, get a ☕, and block out an hour on your calendar.
Playbook Instructions:
⏰ Run time: 1 hour to get started & 2 - 3 hours weekly after
🧑🏼 People: 1
✂️ Material: A blank sheet
🔁 Repeat: Every quarter
Step 1: The Short-Term Play [15 mins]
Reflect (on your current role)
How likely are you to be laid off if a recession hits? Ask yourself.
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How was my last performance review?
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What are my superpowers and am I utilizing them in my current role?
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Is my company at risk? Look at the financials as well as their history of layoffs noting that some industries are hit harder during a recession e.g. retail, consumer goods, travel & hospitality, automotive, real estate & financial services
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How critical is my work to the company’s survival?
Am I working in a product area that contributes directly to revenue generation or cost savings? -
Is the PM role valued in my company? Or does it take a backseat to Engineering & Sales?
Action: Score yourself honestly as a “low/medium/high” likelihood of layoff.
You can go with gut-feel. Or if you want a bit more structure, you can score yourself like this:
