Tuesday, November 18, 2008
10 ways to recession-proof your job

Are you worried your organisation might trim staff numbers in the wake of the global credit crisis? While you may have reason to worry, with proactive action you can survive and thrive in the wake of this crisis.
First, stay positive. It’s important not to panic. It is true that in the last September quarter unemployment grew by 6.3% and that the numbers of unemployed are expected to rise by about 33, 0 00. But at the same time, The Department of Labour reports that on an annual basis, employment has risen by 21,000, an increase of 1.0%. Unemployment, now at 4.2%, is just 0.2% higher than the 4% level that economists consider "full employment" (supposedly meaning that everyone who wants a job has one).
Still, with the ripple effect of the credit crisis, escalating costs and declining household valuations people are feeling the pinch and consumer spending has declined significantly. Companies like Hewlett Packard are on the verge of announcing big layoffs, and John Key’s national government have their eye on trimming the numbers of Government employees. So you'd be smart to start thinking about recession-proofing your current job - or, failing that - devising a back-up plan if it all turns to custard. Here's how:
1) Think of ways to generate revenues or cut costs. Proactively identify ways to work smarter not harder - either by generating more revenue using existing capacity or by trimming waste. While you may have a brilliant idea that could open up whole new markets for your company, if this idea needs a large financial investment to get started it may be best to shelve it for more prosperous times. Concentrate instead on finding places to pinch pennies, or identifying cheap new sources of revenue. Or both.
2) Be visible. Now is not the time to go on leave. Out of sight out of mind – you may find your position could be axed while you're gone, Even if things have slowed down and the workload isn’t what it used to be now is not the time to cruise in around ten o'clock either. It’s all about perception management – if you look busy chances are the bosses will think they can’t do without you. Make it clear how invaluable you really are by identifying ways to stand out and distinguish yourself. If you're in sales, get your numbers up. Nobody will be laying off star salespeople. Get out from behind your desk and increase your visibility – proactively network and help others achieve their goals with your help whenever possible.
3) Create some Spin. Make sure you're adding value at work by going above and beyond your basic job responsibilities, Be the first to initiate new ideas or to put your hand up for new assignments when asked. Don’t be shy about blowing your own trumpet – make sure your boss knows how you are adding value without being too self-focused.
4) Show how multi-faceted and adaptive you are. Don't get a reputation as someone who is change adverse or who only does what they are told to do. Keep your eyes and ears open and proactively look for opportunities to get involved. Volunteer for value-add tasks, including tasks for which others may be responsible. Be a team player and pitch in wherever you can. Doing your job and doing it well is not enough in these economic times. Be prepared to show how you can go the extra mile.
5) Update your skill set. Future proof your career by staying in tune with marketable skills and experience. What social, economic or technological changes are coming up and how can you be work-ready with the skills, knowledge or training required? This may mean forking out of your own pocket but the reality is companies get rid of people whose skills are obsolete. Take classes, join trade organisations, and prove you're in the know. Consider going back to school, perhaps even by correspondence, to show your employer you're serious about your career and your performance. Ask your way to success by finding out what is most relevant and needed by your current organisation. Future proof your career and ensure a good return on investment by finding out how marketable your new skill set will be outside your organisation.
6) Think and act positive. Attitude counts - a lot. Employers want people who can show resilience and boost morale during tough times. No one likes a whiner. It’s draining and counterproductive. Research shows happy, optimistic workers are less likely to get laid off than people who think and talk negatively and seem to dislike what they do. I have seen so many careers prematurely derailed because of negative attitudes. People seem to think they are bullet proof and neglect the importance of how they interact with others. If you moan about your job or complain about the boss odds are your manager may rationalise that giving you the sack would really be doing you a favor.
7) Network! Network!Network! So many people wait until they’ve lost their job until they start tapping into their networks. Chances are that by the time this happens you’ll be calling out of desperation, needing their help to find work. Increasing your chances of keeping your current job or transitioning reasonably painlessly into a new job following a layoff often depends on how consistently you've contacted - and maybe even helped - lots of people when you didn't need them. Remember it’s not what you know but who you know and how they feel about you. Maintain positive relationships and don’t burn any bridges.
8) Get career fit. Update your CV, start visioning where else you might like to work or what else you might like to do, touch base with recruiters and sign up for electronic job alerts. It doesn’t hurt to keep your eye out for future opportunities and if you're mentally prepared for a move, you'll make a more informed and wiser one than if you wait until you're desperate.
9) Pursue your passion not your pension! Maybe your current position is perfectly "safe." But think about it for a while and you may find yourself wondering: Is "safe" good enough? Maybe it's time to change jobs anyway -- and heed the immortal words of Keith Richards, "I'm gonna leave while it's still fun/ I'm gonna walk before they make me run."
Doing what you love and doing it well is also a cure during economic downturns. There will always be a demand for people who love what they do and who do it well. The key to recession proofing your career and surviving and thriving in the face of uncertainty is knowing how to do what you love and still pay the bills. If you have no idea how to find your passion Happy@Work Job Hunting for Mid-lifers+ will show you how. Follow this link to for free down-loadable preview
10) And finally, cultivate confidence and optimism. Opinions vary re whether we are really headed for a recession. Even the experts can’t agree. Things may not be so bard after all. But many economists agree that pessimistic, recessionary thinking and self-talk can become a self-fulfilling prophecy.
As the National Bank economists said in their August 2008 Economic Outlook, “We cannot stress the importance of confidence enough. It’s not a key driver of wealth, but critical for maintaining momentum. Economics and business cycles are as much about human behaviour, the feel-good factor and risk appetites – as well as the laws of supply and demand.... it’s a game of confidence.... the danger is that fear and caution becoming self-fulfilling. Signs of improving confidence is the first critical step.”
Subscribe to Posts [Atom]
e-Newsletter
Receive career success tips and inspiration.
Sign up for my FREE e-Newsletter.
Survey
Please click here to complete our online happy@work survey - we'd love to hear your views re how to improve the quality of life at work:)
Archives
May 2008 July 2008 August 2008 September 2008 October 2008 November 2008 December 2008 January 2009 February 2009 March 2009 April 2009 May 2009 June 2009 July 2009 August 2009
New Book

happy@work Book
by Cassandra Gaisford
New Book
Signed copies of Cassandra's new book 'happy at work' will be available to buy online soon...
Price: NZ$45.00
ebooks
Best Fit Career
NZ$12.50 - BUY NOW »

Get The Job You Want
NZ$18.50 - BUY NOW »
More eBooks Click Here »
Also in Our Shop
Recommended Reading
