There’s been a lot of talk about a slowing economy, a housing market that economists predict will not rebound until the end of 2008, and an unemployment rate that is at a two-year high. With these economic indicators signaling the possibility of a recession, now is the right time to start thinking about how you can safeguard your career.
There’s no fool-proof system that guarantees your job will be protected during a declining economy, company mergers or unexpected layoffs. However, there are a few things you can do to secure your current employment, or put you a step ahead in case you do find yourself looking for a new job.
Know your industry. Is your job industry slowing down? Are there job functions in your workplace that are no longer being utilized? If the cutbacks are in your area of expertise, do you have the transferable skills for other job opportunities in your company? By knowing what’s going on in your market and company, you’ll be better prepared to implement specific strategies to protect your career.
Distinguish yourself. Have you grown in your current position? Do you have skills to offer employers that differ from your co-workers? If you answered “no” to both of these questions, you need to put professional development at the top of your list of things to work on. Try volunteering for projects that you would normally shy away from, and offer co-workers help on their tasks to show teamwork and your desire to learn.
Establish yourself as a leader. Are you someone who co-workers come to when they have a tough question? Do others look to you for career advice or direction on projects? If you find yourself asking the tough questions or asking advice from others, try to reposition yourself in your job. Search for the answers on your own, take the lead on projects, and listen to others when they talk and help them when they need it. Showing that you’re valued by your co-workers and are a leader in your department will demonstrate dedication and strong work ethic to your employers.
Vocalize your success. Now this is not the time to be modest about sharing the contributions you’ve made in your department or company. Make sure your boss knows the projects you’re working on and the successes you’ve achieved. Show your boss how valuable you are to the company and sell yourself. If your boss sees your hard work, you’re less likely to be let go if cuts have to be made.
Befriend top management. If you don’t know who the decision makers are in your company, find out. Establish a working relationship with upper management. Volunteer on projects that might enable you to cross paths with key players in your organization, stay late at work or come in early to get some one-on-one time. Aligning yourself with the people who have the power to fight for your job will prove to be a great asset during troubled times.
Be willing to transfer. If you’ve paid attention to what’s going on in your industry, then you should know if your department or job is in danger. In times of recession, most job cuts happen in departments that cost the company money, not ones that make money. So, if you find yourself in a situation where your job could be compromised, let your boss know you’re willing to work in another department. If your company can move you to a position where you can make them money, they are more likely to transfer you instead of laying you off.
Update your resume. Don’t sit around waiting for the layoffs to start. Be proactive. Make sure your resume reflects your accomplishments, skills and capabilities. During times of economic slowdown, keeping an updated resume available will help you get a head start in your job search.
Don’t wait to network. Don’t be afraid to network. Waiting to contact former colleagues and old friends to find out about job opportunities after you have lost your job could prove to be detrimental to your job search. Reconnecting with these individuals while you still have a job is a lot easier than calling them up for a favor after you’ve lost your job. Get involved in organizations, both personal and professional, so you can meet as many people as possible and increase your chances of finding a job if the need arises.
Learn new skills. It’s never too late to learn something new, and new skills are often necessary to brand yourself as a company asset. If you aren’t sure what steps you should take to broaden your horizons, ask your boss. It might be as simple as being trained for a new task or attending a few seminars. You might also want to take some courses to advance your knowledge in certain areas or to market yourself to potential employers. Learn the skills you think might be in demand in case your company downsizes.
Economic downturns can be difficult, but if you prepare and equip yourself with the right tools, you can make it through rough times unscathed. Positioning yourself well within your company and being proactive in case you need to search for a job will prove to be beneficial for yourself and your career, even if a recession doesn’t hit.
Karen Dwyer is the owner of Express Personnel, 9 W. Figueroa St., Santa Barbara 93101. She can be contacted at karen.dwyer@expresspersonnel.com or at 805.965.6900.