As most of you know, I’ve been in some form of Human Capital Management for years now.  I keep an eye on trends and solutions, and came across another great article from Rob McGovern of JobFox.com.  This is some sound advice, and I hope it can help you:

As the recession continues, job seekers are struggling to come up with a “Plan B.” Many people have been contacting me about whether to go back to school, either to acquire new skills or for an additional degree. In this email I’ll attempt to answer the flood of questions I’ve received on this topic.

As you know, continuing education is costly from both a financial and time standpoint. To make matters worse, it’s not a sure bet. Meaning, you could devote six months to a particular set of courses, only to find that it did little to improve your marketability. What’s the solution? Over the years I’ve seen people make many good “bets,” using additional education as a way to transition to a better place.

Here are the situations where I’ve seen it work best:

• Transitioning out of an out-of-favor profession: One of the cruel aspects of a deep recession is that it exposes the inherent weaknesses in the economy. There are a large number people in the automobile industry learning that lesson today. If you’re in a profession that has been permanently impacted by this downturn, it might be wise to consider more education as a way to transition to a better place. For example, if you are a print journalist in the newspaper or magazine industries, which are being hammered in this recession, this might be the time to take courses in online journalism or online advertising.
• Reinventing you: There are a remarkable number of industries where there are still huge shortages of people. In many cases, the cost of entry is a degree or certification, and many job seekers are deciding to bite the bullet and reinvent themselves. At Jobfox we continue to hear about people shortages in professions such as Software Development, Physical Therapy, Nursing, Web Design, Alternative Energy, Online Advertising, and Government. While going back to college is an option, in many cases you can find accelerated courses at specialized institutions designed to help professionals make transitions. I think you’d be surprised to know the number of education options that are available in most major metro areas.
• Demonstrating commitment to future employers: When this recession finally ends, many job seekers will face the challenge of explaining what they were doing during their extended period of unemployment. The ability to tell an employer that you were acquiring new skills and education would send a very positive message in an interview. This is particularly important for the youngest of professionals, many of whom haven’t found jobs after college. You don’t want to leave an employer with the impression that you were just “hanging out” during this period.