Boosting Your Value in Times of Market Stress
Navigating job security in uncertain times can be a challenging experience. With layoffs and market stresses on the rise, it's more important than ever to increase your value within your current role. While there's no magic bullet to guarantee job security, you can take strategic steps to make yourself indispensable to your employer.
Keep Track of Your Accomplishments
One of the simplest yet most effective ways to increase your value is by keeping a record of your accomplishments. Document every project you've completed, every goal you've surpassed, and any positive impact you've had on the company. This isn't about bragging; it's about building a portfolio of your contributions. When the time comes for performance reviews or, unfortunately, when layoffs are on the table, having a concrete list of your achievements can make a strong case for why you should stay.
Take on Additional Responsibilities
Look for opportunities to go beyond your current job description. Taking on additional responsibilities can demonstrate your commitment to the company's success and your willingness to contribute in any way possible. However, it's important to be strategic about this. Focus on areas that align with the company's goals or projects that are crucial for its growth and survival. By becoming involved in key initiatives, you position yourself as an essential asset.
Make Your Manager Look Good
Now, let's talk about the psychology behind making your manager look good. It's not about being a "yes" person or doing everything they say without question. It's about understanding what success looks like for them and helping to achieve it. When you support your manager's goals and help them shine, you're also showing that you understand the bigger picture and are a team player. In turn, this can make your manager more inclined to advocate for you when tough decisions about staffing need to be made.
Make It "Painful" for Them to Let You Go
You want to make it difficult for your employer to consider you as a candidate for downsizing. This takes a lot of hard work and strategy. You need to spend time figuring out what key functions matter most to your employer or what projects or initiatives are essential for the company's growth or survival. Once you've identified these areas, embed yourself in them. Make it so that your absence would cause a noticeable gap in the workflow or a loss of critical knowledge.
A Personal Story: How I Survived a Major Layoff I remember a time during my tenure at AT&T Mobility when the company was facing a major layoff. It was a tense period, with uncertainty in the air. To secure my position, I embedded myself into as many key functions as possible. I made sure I was involved in projects that were critical to our operations. I took on extra responsibilities and became a go-to person for various tasks. When the layoff wave hit, my director decided to keep me on board. It wasn't just luck—it was a calculated effort to make myself an indispensable part of the team.
Make Time for Decompression and Reflection
In the midst of all this, it's crucial to take care of yourself. Job security isn't just about working harder; it's also about working smarter. Make time for decompression and reflection. Taking care of your mental and emotional well-being ensures that you can continue to perform at your best, even in challenging times. When you're in a good state of mind, you're better equipped to think strategically and stay productive.
A Few More Tips
Communicate Effectively: Keep an open line of communication with your manager. Share your progress on projects and be transparent about any challenges you're facing. This demonstrates your proactive attitude and dedication.
Stay Updated: Keep your skills and knowledge up-to-date. In the fast-paced world of IT and finance, being current with industry trends can set you apart.
Network: Build relationships with colleagues across departments. Sometimes, it's not just what you know, but who you know that can help secure your place in the company.
No Guarantees, But Better Chances
These strategies by no means guarantee that you won't be downsized, but they can increase the probability that your employer will think twice before letting you go. Over the past 20 years, both as a contractor and a full-time employee, I've used these tactics to reduce my chances of being downsized. While we can't control everything, we can certainly influence outcomes and increase our odds of staying on board.
To anyone currently facing uncertainty or job transition, remember that you have more influence over your situation than you might think. By taking proactive steps, you can make yourself a vital part of your organization's success story. Stay encouraged, keep pushing forward, and know that every effort you make counts.