Are You Prepared?

Last week The Bureau of Labor Statistics released a new job report showing unemployment at 7.2%. This is the worst level of unemployment since 1945. While the executive and management ranks have not been hit quite so hard – it only stands to reason executive layoffs will be impacted more at some point. I am not highlighting this to increase fear but rather to examine what executives can do to bolster their job security. While none of this is rocket science – sometimes it is good to remember the basics. Especially when you have been settled in for a while.

Understanding Where You Have Control
The first thing to keep in mind is that we have no control over others, economic changes, or events that can conspire against our job security. This is the case in challenging or good times. Yet, in challenging times – the natural reaction organizations is to look at where they can cut costs. Of course payroll and compensation is one of the biggest costs for any business.  Yet, while we can’t control external influences – we can control our attitude, focus, choices and actions.  If you are sensing some possibility that your job may be in jeopardy due to the economic conditions or the state of your organization – now is the time to act.   Following these suggestions will not only prepare you for different contingencies – it will also serve you in your current position.

Start with these Questions:

• Do you have a clear vision for the impact you want to have as a leader and/or expert in your field? If no, take some time to consider developing your vision.
• Do I feel I am contributing at the level I would like in my current job and am I fulfilled from my day-to-day experience?
  • If the answer is yes – ask yourself what do I most enjoy about being in this situation?
  • If the answer is no – you might ask what qualities do you enjoy about the current situation and what is missing for you?

Build Your Job Security Plan and Work It
Once you answer these questions – take some time to craft a vision for your leadership impact and job fulfillment. This exercise will provide important context for your “security plan.”  You can use this Vision Exercise if you would like.   Once you understand your vision, taking charge of your job security needs to be done from inside and outside your organization as follows:

Inside the organization:
Bottom line when you are perceived as a value creator for your company – it is far less likely you will be let go. You create value in the following areas:

• Increasing Revenues
• Building high value relationships in the market place
• Improving team performance and inspiring your direct reports
• Cutting costs – especially helping to reengineer or get rid of out dated processes.

You are likely compensated for impacting these areas now yet during uncertain times it is time to up the ante and look for additional ways to add value. The most important part of this process comes from leveraging and deepening your internal relationships – especially with the power brokers in the organization.  Power brokers are not only found in the senior ranks – they can be individuals who are regularly recognized for adding value. The key in all of this is to have authentic conversations focused on innovating and enhancing value. From there take on some ownership for moving things forward. The more you are successfully in the middle of the value creation process the better off you will be.

Outside the Organization:
Bottom line – stay in touch with your network and continue to strengthen this. Doing so not only will help with your ability to create value for your organization – it will also generate a Rolodex of connections should you lose your job. Take advantage of the networks and associations your company is a part of and find others that tap into your interests or set a lunch or coffee up every other week with key people in your network. Also, consider leveraging the growth of social networking on the Internet. Twitter is a wonderful way to get to know people and the more people you get to know the more valuable your network becomes. To learn more about Twitter and Social Networking follow these links:

• Introductory Video on Twitter
• Great Tips from One of My Colleagues – Suzi Pomerantz
• Another Twitter Introduction
• Article on Business and Social Networking

Finally, if you have not done it recently polish up your resume. Follow this link for a tremendous resource and special offer that will assist you with preparing your resume and sharpening your interview skills.

In Summary
Ultimately, this is an exercise we recommend to all of our clients – regardless of their sense of job security. This process empowers you to think more deeply about your career, sharpen your focus so that you maximize your impact in your current role, and ultimately inspiring you to engage in more networking conversations that support your success personally and in business.  Also, you don’t have to do this all at once – develop a goal to enhance your visibility and credibility inside and outside your organization.  From here – take steps each week.  This is all about building momentum so that you continue to thrive!

Tags: executive job security, leadership impact, Personal Engagement, Personal Vision Exercise

This entry was posted on Tuesday, January 13th, 2009 at 4:03 pm and is filed under Executive Engagement, Leadership Development, Personal Engagement. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.