Given recent events in the financial markets you may be turning your attention to job security.  Monitoring the health of your career in times of uncertainty makes good sense. What steps can you take now to improve the longevity of your current job, and how well prepared are you in the event of a downsizing? 

Working Smart

One of the first things you can do to increase your workplace value is to become familiar with the needs of other areas of the company.  Being able to contribute to other departments, even in incremental ways, can add flexibility to your portfolio.  If your company were to assess abilities to contribute on a going forward basis, they’ll have evidence of your versatility.

Not only does this make you cross-functionally adept, it can mean when three roles are condensed into two in a downsizing, your expanded abilities could offer you a safe harbour.

If you are a specialist, be a highly informed one. Even if that means taking courses on your own time and dime, be absolutely up-to-date on the leading edge of your niche. For your current job, you’ll want knowledge that has immediate relevance and application.

Invest in career growth by expanding your areas of expertise. A cross-functional area that augments your qualifications such as project management, client relations or corporate communications may be just the differentiator you need to stand out to employers. 

Connections, Connections

While it’s not always what you know but who you know that leads to success, you can raise your profile inside the company by making sure that more people know about you and your work.

Gaining recognition may be as simple as being more prepared for meetings so you can speak up with confidence and informed viewpoints. Volunteer for a project that’s been dragging and get it done.  Go to your boss with a few solution-focused ideas on a client problem or efficiency bottleneck.  Develop your reputation for on time, quality work and a positive attitude. Strong performance amid workplace uncertainly seldom goes unnoticed.

At the same time, it’s easy to underestimate the importance of social connections. Take time to strengthen and repair your working relationships. A simple rule of thumb is to eat lunch more often with others.  Especially with those you may not know as well.  A well-connected and engaged team player is one who has more to offer.

Outside of the company, consider becoming active in your professional association. The meetings and speakers are a solid avenue for professional development and joining committees is an excellent way to meet people in other companies.  Think of it as an opportunity for proactive networking.

Could You Do This?

Here’s an acid test for career buoyancy.  If you had to find another job right now, could you pick up the phone and call three decision-makers who would be pleased to hear you were available? Contacts can include recruiters you’ve worked with, previous bosses, managers with your competitors and others in your target industries.

You are the manager of your own career. So cultivating contacts is an essential part of your career management work. Knowing you can make three or more outbound employment calls can provide a sense of security, especially when the situation at works unclear.  You might say that the strength of your contact network is actually the new job security.

Reality Check

To create more options in the event of a career downturn, examine your lifestyle.  Do you have room to maneuver? Is your debt in line or can you take action to bring it into line? Is it time to budget?  

Having a nest egg of three to six months to cover basic living expenses may seem to be an old-fashioned idea, especially with reliance on lines of credit, but it can bring peace of mind. If you don’t have an emergency fund in place, think about starting one now. Although it may tempting to carry on as usual, planning for eventualities can take the sting out of the unexpected.

If you are a dual career family, take into account both career situations. If one or both jobs appear to be in doubtful circumstances, then one person may want to begin a back-up plan with a low-key job search.  That being said, if there is a possibility of a severance package as part of a downsizing, then the value of waiting to exit may need to be considered.

Are You Ready?

There are immediate practicalities you can address to provide a measure of career insurance.  One is to get your resume in order.  Then make it competitive by itemizing transferable skills and contributions. This will let you send out a fast response to job postings and enable you to quickly pass your resume along to that ‘friend of a friend”.

To get a sense of the market and where you might fit in, keep your eye on the Internet job boards. Kick-start your thinking by researching companies of interest.  If change for you means career change, then assessment tests are an objective way to assess your fit for the direction you have in mind.

And Now

Build your own Bullet-Proof Career Plan by selecting a starting point that is right for you. It might begin with a simple ‘What if?” conversation with your partner. Lists work well for some people and spreadsheets for others.

Breaking a larger project, such as rewriting your resume, into smaller tasks, like itemizing recent achievements, can break the logjam of inaction. Deciding to deliver a presentation at your next office meeting may be just the right move to relaunch your workplace profile.

Your career possibilities increase with every action step you take.

Lynne O’Connor
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