Welcome to part 3 of my 5 part series on how to deal with the impending recession.
Part 3: Acknowledge your career “risk”, and do something about it!
Part 1 discussed getting closer to your “clients”. Part 2 discussed adding to your technical skills.
Are you at risk for lay off?
I have gone through a few recessions in my 52 years on this planet.
I may have even helped cause one (MBS, CLO, CDO anyone?)
I can safely say that those I have seen laid off were the most shocked.
Why is it we can see the puppeteer, but those who lose their jobs can’t?
Well, it could be they:
Did not play politics well
Let their skills lapse
Became replaceable by junior staff
Cruised on autopilot
Many of us think we are invincible like the titanic.
I’m not saying walk around in fear every day.
However, please take stock of your professional (and personal life).
You still could still be at risk even if:
You brought in $10 million last year; it doesn’t matter
You are the product expert; it doesn’t matter
You golf with the boss; it doesn’t matter
Layoff decisions are rarely logical or economic.
They are political and directly linked to the ego of the decision maker, whoever that is.
You can’t control these decisions, but you can minimize their effect.
1. Keep an updated resume, very updated
2. Update your LinkedIn profile
3. Take inventory of how often you network with powerful people you know
4. Talk to friends at competitors and find out what’s really going on