Career Management in a Down Economy
Part I – Go the Extra Mile
“The worst credit crisis since the Great Depression!”- “Unemployment hits the highest level in 14 years!”….With these negative headlines hitting us on a daily basis, you would expect every company to be on the brink of shutting down! Additionally, one might view the idea of career management – and job retention – as unrealistic and out of reach. Nothing could be further from the truth.
Over the next 6 months, we will use this column to provide some helpful tips that will support you in your quest for effective career management and job retention.
Go the Extra Mile
Inevitably, as the economy slows and revenues dip, companies will be forced to make tough decisions in order to control costs and maintain margins. Staffing levels are no exception. While these decisions are sometimes made in a corporate board room in another city or region, more often than not, the decision to layoff staff is the result of a mandate for all departments to enhance productivity and efficiency while minimizing expenses. While this may seem like the future of your job is out of your control, it is the perfect opportunity to position yourself as a “must have” in the eyes of your manager. The key is being proactive. It is up to you to identify ways in which you can provide support and innovation, while making your manager aware of your contributions.
Here are a few examples of adding additional value.
1. Communicate with your manager on a regular basis, ideally in person, to provide proactive status reports on your projects and initiatives
2. Offer to take the lead on that project that you know your manager has been trying to finish for the past 6 months
3. Create a new spreadsheet or model that will eliminate some of the manual processing in your department
4. Suggest a new marketing campaign or sales blitz that will cater to your loyal customers, ensuring their commitment to your company’s products or services
5. Offer ways in which you can negotiate a lower price with your vendors by paying 3, 6 or 9 months in advance. Alternatively, if cash flow is an issue, develop a program by which you can offer a discount to your vendors if they pay you in advance
6. Offer to research new vendors and resources that may lower your costs
7. Make yourself available to train new employees, freeing up your manager to focus on other, more pressing issues
Continued in next column >
“The most important criteria is the ability to work with a recruiter who takes the time to truly listen, gaining a genuine understanding of the open position....."
8. Make a concerted effort to learn other positions and familiarize yourself with other departments to enhance your value and demonstrate your ability to multi-task and handle responsibilities outside of your job description
9. Update your skills by taking classes in specific areas that you know will benefit your company’s operations (e.g. IFRS, fair value accounting, CRM management, lean manufacturing, etc.)
Some people may interpret this strategy as disingenuous or “kissing up to the boss”. I would argue, however, that these are a few simple steps every employee can and should take to ensure that their value to the company is front and center. There is nothing disingenuous about adding value to your boss, your department and your company. And in times like these, it is imperative that you differentiate yourself from your peers to avoid being caught up in a layoff.
