How to Recession-Proof Your
Career
an Insightful Leader Classic
I recently met with a group of people who had been downsized. We spent considerable time discussing strategies for transitioning to their next position. I could not help but speculate on how these individuals might have "recession-proofed" their careers in advance of the downsizing. What steps could they have taken to prevent being, "the last to know." Although it is impossible to protect ourselves completely from job loss due to mergers, acquisitions, reorganizations, and economic downturns, there are things we can do decrease our vulnerability in difficult times.
- "Whoever Dies with the Biggest Rolodex Wins"
How many people could you count on for help if you lost your job today? When were you last in touch with these individuals? Developing a professional network may only require attending one association meeting per month. Also consider community, athletic, church or synagogue groups as other ways to increase your network. Don't wait until you need a healthy Rolodex to network with people. Remember, it takes time to build quality relationships. I have found the following books on networking helpful: Dig Your Well Before You're Thirsty - The Only Networking Book You'll Ever Need by Harvey Mackay (Doubleday) and How To Work A Room by Susan RoAne (Harper Collins). Both of these books are available in paperback.
- Capitalize on Your Professional Growth
You're not the person you used to be! In the past few years you have matured, mastered numerous skills, shifted the priority of your values (mentoring may currently be more important than becoming a vice president), and discovered new professional interests.
Often times we are not aware of these changes and wonder why our passion for old tasks has declined. People who "recession-proof" their careers pay attention to these subtle changes and seek out work that keeps pace with their growth. These are the individuals companies work hard at retaining. They are vibrant and passionate about their work and can easily sell their evolving capabilities both inside and outside the company.
- Nurture Your Internal Alliances
The last issue of this newsletter, How Strong Are Your Alliances?, focused exclusively on the value of our internal network. When layoffs occur in one part of a company, individuals with strong internal networks are in the best position to locate work in other departments. The first line of defense in "recession-proofing" our careers, are the people we work with every day. The best ways to build these relationships, is to look for ways to make the other person's job easier and to be willing to help colleagues without any guarantees of a quid pro quo.
- Get Assigned to Key Initiatives
Some time ago, a good friend advised me never to join a company that was on the downswing. His recommendation was to always go to an organization that is growing. This same advice applies to moving within your company. "Hot projects" are demanding and often present us with a challenging learning curve. However, when cutbacks are necessary, it is the projects that are on the upswing that survive and thrive. A corollary to this advice is to initiate projects that increase revenue or reduce costs. If you don't have the skills required for these key initiatives, develop a plan to get the skills. If, as a mechanical engineer, computer science courses will get you on these projects, begin now! As an internal person, being enrolled in such a program may be enough to get you the desired job. In many cases, you will not be required to have completed the entire academic program to get the job.
- Be A Trend Spotter
In the past twelve months we have experienced the collapse of many Dot Coms. Some people saw the tough times coming and made career changes. It is easy to get so wrapped-up in our work that we don't notice the changes taking place in the market. Those who are "trend spotters" remain aware of economic trends and can quickly make informed career adjustments. A convenient way to stay aware of these trends is by making it a practice to check the New York Times each day at www.nytimes.com.
If we assume that downsizing will be a business reality, in the years to come, then we owe it to ourselves to be prepared for economic changes and proactively manage our careers.
Copyright 2008, Mark J. Campbell. All rights
reserved.
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"Mark Campbell partners with organizations for leadership development. For a complimentary subscription to his newsletter, "Management Challenges," go to www.mjcampbellassoc.com."
