In my years working as first an executive search consultant and
since 2002, as the founder and head career strategist of Bold
Career, I have witnessed the career trajectories of thousands of
executives, senior professionals, managers and business owners.
There is of course, infinite diversity. But also amazing similarities.
And in fact natural laws in how the market works.
What follows are the four key traps I have observed specific to
difficult economic times.
1. Turtling, like jealousy, has the opposite effect than
desired
The natural response in difficult economic times is to put your
head down. If you stay quiet, hope for the best, cross your
fingers, so the thinking goes, you just might ride it out. Okay. It
might work. Sometimes.
But this is the path of zero control. And it is your fault when the
axe falls. Because you didn't prepare. Turtling is a hope for thebest strategy. In fact, it isn’t a strategy at all. Another word for
turtling is hiding and hoping the monsters don’t find you.
You need options. You need choice. And you need a way of
deciphering when it is time to stay and when to go.
And here is the kicker: When you hide in your organization, you
are just as likely to put yourself in jeopardy as you are to avoid it.
In the act of keeping your head down, you might find yourself not
adding as much value as you could or should.
2. Frying pan into the fire
Oddly, the second most natural response to uncertain or scary
times is for people to jump ship and grab the first life buoy that
comes along. At the first sign of danger they sign-on to something
else, anything that gives them the income they need. And it is
fraught with danger. Granted, you may get lucky. The new job
may be a great one. But the basic laws of career decision making
still apply.
The act of saying yes to a new work opportunity is an incredibly
important one when you consider that like a tattoo, that new job
will stick with your resume for the rest of your career. Not to
mention fit with colleagues and culture, the guarding of your good
name, actual job fit, income security and overall career
progression.
And of course, when you make a rushed decision you increase
your overall career risk because the probabilities of the new job
working out have fallen rapidly because you didn’t do your due
diligence. And then worst case, you find yourself laid-off or
desperately looking for a job 3 months after you quit your old one.
And forever on, you have some explaining to do about your short
stint at that organization.
There are lot of factors that usually are not considered in the act of
jumping ship. Yes, sometimes speed is essential. But do it
carefully.
3. Commodities lose
In an earlier part of my career, I was an executive search
consultant in a high-end firm. During economic downturns,
business did go down, but it also changed. Our search
assignments turned into highly specialized wish lists for
experienced, knowledgeable, skilled and networked candidates.
Candidates with distinctive track records who had the package
the hiring organization required to move them through the storm
into calm waters.
In other words, companies were still hiring. They just wanted more
specific pedigrees. They wanted people who could pull them out
of a slowdown, or turn them around, or enter the company into an
expanding market. They wanted to hire people who had a proven
track record of getting the result they wanted.
If you present yourself as a commodity. One of many. Same as
your peers. You have a huge problem. In any given competition
for a promotion, for assignment to a special project, or for a new
job, you need to present yourself in a way that fits their bill. Their
wish list. Their needs. You can’t do that as a commodity.
You need to be a differentiated product / service / person in the
marketplace. (Which by the way, means that you don’t fit
everywhere.)
Trap 3b - Going wide: I promised 4 traps, but I am going to over
deliver and add some extra value here. What doesn’t work
particularly well at any time, but even more so during scary times
is going wide with your job search activities. Going wide is the
shotgun approach. You apply everywhere and to anything thinking
that being selective and strategic won’t give you enough
opportunities.
It doesn’t work.
Consider your competition. If the company can hire to their spec,
and you are only vaguely qualified, why would they hire you?
It takes courage to go narrow. But it is the path of higher
probabilities.
I am not a gambler, but I imagine that someone who has some
skill and who is intent on making some money would go to Vegas
and focus on one or two types of games. The ones they
understand and are good at. The games they feel have the best
probabilities of paying out, for them.
Which tables are you going to play?
4. The tighter you hang on, the greater the
probability of letting let go
I know this is counterintuitive, but if you are approaching your job
or your clients from a place of fear and desperation, it probably
means that what is being received by your coworkers / boss, or
clients isn't conducive to the management of a strong, secure and
vibrant career. Looking for pennies here and there, tightening the
terms of contracts, scraping for cash, holding on to projects and
guarding your little empire all contribute negatively towards your
security.
Hanging on means behaving in ways that demonstrate to other
people that your sole concern is your own security and not the
good of the team, organization or customers.
It doesn’t matter to anyone but you and your family that you can’t
pay the mortgage. Or that your stock portfolio is down 45% and
you need more cash to catch-up. No one cares.
In fact, the normal human reaction to desperation and fear and
neediness is to be repulsed.
The absolute last thing you want to do is to communicate or
project these emotions onto anyone remotely connected with your
career development. Not in interviews. Not in performance reviews. Not to your
boss. Not in networking conversations.
Please understand what I am saying. It is okay to feel those emotions. I have
experienced them myself. And it is absolutely fine to be motivated and
focused. Just don’t forget that you work around and with other people who are
very likely feeling the same pinch.
Operate from confidence and strength and selectiveness. Continue to be a
team player.
Need real help moving your search forward, contact member services today and talk to us about resources we have available to help you.
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Ian Christie works 1-1 with individual clients,
delivering job search and career transition
strategy, process & support, resume
development and interviewing strategy. And
these services are additionally available in an
outplacement relationship.
Ian also works 1-1 with individual clients on
proactive career management strategies like
building profile, developing a brand, preparing
for a move, building a network and navigating
key career decisions.
Ian delivers workshops and presentations on
career management and career transition issues
to groups and consults business school career
centers
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