Tough conditions
Read the news at the moment and there's bound to be another headline about the impacts of the global financial crisis. With each passing day, another company seems to downgrade its profit forecasts, while others post losses. Business confidence appears to have all but evaporated, for the time being at least.
Increased uncertainty
The change in the prevailing economic conditions means many workers have lost any sense of job security. This is unsettling to say the least, but is there anything you can actually do to put yourself in a better position?
What to do?
During the Hudson Report surveying process we also asked employers to indicate the top three ways employees could 'recession-proof' their careers.
As you can see from the graph, managers selected the following three points as the top ways to recession-proof your career:
- Excel at what you do
- Focus on developing skills through new projects and/or education
- Network inside and outside the company
Following are a few practical tips on each point from our recruitment consultants, who speak to many thousands of jobseekers and employers every year.
Excel at what you do
When you're at work, work hard. Know exactly what is expected of you in your role and be sure to meet expectations. If possible, extend yourself and do more than what is expected of you. At the same time, be sure what you're doing is actually making a tangible difference to the performance of the business. Don't get all tied up in process, be results driven. Then make sure the right people know about your achievements.
The behaviour your manager demonstrates at work is probably a good guide to what they expect of you. Even simple things can make a big difference. For example, if your manager always arrives at work early in the morning, try to do the same.
At work attitude is everything. People who genuinely enjoy their work and the challenges it brings naturally stand out from the crowd. While everyone has bad days, if you're on the right career path you should enjoy your job more often than not. All employers want people who are reliable and perform consistently in their role.
And remember to be a team player. Wouldn't you be glad to see the back of someone who was consistently combative and difficult to deal with?
Focus on developing skills through new projects and/or education
You can't rest on past achievements; you must constantly prove your worth to the company you work for.
Extending and challenging yourself is a big part of staying passionate about your job. If you finish each day having learnt something, you'll be more inspired by your job and more likely to excel at it.
Don't sit back and coast along. What skills can you acquire now that will assist you further down the track? Talk to your manager if you need a fresh challenge.
Winners don't just drift, they plan and execute.
Network inside and outside the company
All relationships count. If you really click with someone at work, try to maintain contact with them. They'll probably want to work with you again in the future.
In particular, be sure to stay in touch with all your former managers.
The website LinkedIn is a great place to start – it's an international professional networking site along the same lines as facebook.
Sometimes it's beyond your control
We all know that a lot of factors come into play when a role is made redundant. Although we can control certain aspects of our careers, there are factors that are simply beyond our control. Know your role, company, industry and the market.
Knowledge is king. If your company is likely to cut staff numbers and your role is one that could go you'll deal with it much better if you're prepared and have a plan in place.
Stay informed about the economic environment by reading the papers.
Is your industry particularly exposed? Don’t hesitate to contact your Hudson consultant if you wish to receive the employment expectations report for the coming quarter.
Follow the performance of the company you work for. How exposed are they to the impacts of the global financial crisis? Have they recorded significant losses?
What about your role? Is it essential to the running of the business? Are you the only one in the business who does what you do, or are you part of a large team? If you're part of a large team, how busy are you all?
Be resilient and optimistic
Hudson's advice to employers is to hold on to talented staff, because they'll need you when the economy recovers. Historically, every major dip in the financial markets has been followed by an equally swift recovery. Really it's only a matter of time until business confidence returns and the economy starts growing again.
Skilled, talented workers will always be in demand
In the mean time, take command of your attitude and focus on doing the best job you can for your team and company. Get connected and up-skill. Put yourself in the best possible position in a tight labour market by developing great work habits.
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