Strategies for professional resilience
2023 will be marked as a year of restructuring as businesses of all shapes and sizes, re-size teams for demand in a period of high interest rates, high inflation and lower customer demand.
Companies have mostly been rationalising headcount at the senior end, meaning anyone on a salary typically above £100k is at risk as organisations try to become leaner, reduce cost and promote from within. Every organisation in every sector is going through a headcount review and the speed of these changes in the job market have created a roller coaster ride of professional uncertainties.
For those people who have a 20+ year career they will remember times like the financial crisis and other recessionary type events and will have worked through cycles of change. For other people being made redundant could be the first major professional challenge they have faced.
It’s crucial to maintain a positive outlook amidst these challenging times. Your approach to your career during these tumultuous moments can significantly impact your professional trajectory. Here are some strategies to help you navigate this roller coaster of a job market and safeguard your professional interests:
Talk to your partner: if you are in a long term relationship, the most important first action is to talk with your partner. During challenging times, job hunting can be a long and unpredictable process. Having a plan and communicating with your partner is the best way to manage expectations and for you to take control of your search but also seek advice.
Stay positive: While the constant flux in the job market can be disheartening, maintaining a positive attitude is pivotal. Your outlook not only impacts your mental wellbeing but can also influence your approach to potential opportunities. Talking to experienced people, mentors and trusted people who have been through redundancy is beneficial.
Adaptability: Flexibility and adaptability are your best friends in an evolving job market. Embrace change, acquire new skills and be open to different roles or industries. Being adaptable makes you more marketable and resilient in times of uncertainty.
Networking: Building and nurturing professional relationships is more crucial than ever. Networking helps you stay connected, informed and aware of potential opportunities that might not be publicly advertised. It also allows you to practice talking about your skills and experience, conditioning you for when opportunities present themselves.
Skill development: Invest in continuous learning and upskilling. Enhancing your skill set makes you more competitive in the job market and opens doors to diverse opportunities. Ask people in your network what skills are most relevant and how to enhance them.
Self-preservation: In times of corporate restructuring, it’s essential to be proactive about self-preservation. This includes staying informed about your company’s changes, understanding your rights and being prepared to protect your interests. Managing up and staying visible is key to self promotion
Professional branding: Enhance your professional brand. Update your resume, LinkedIn profile and other professional platforms to reflect your latest skills and experiences. A strong personal brand is crucial for standing out in a competitive job market.
Professional growth: Use this period to focus on professional growth. Engage in projects, volunteer work, or freelance opportunities that contribute to your skill development and maintain your professional momentum.
Create a visual roadmap: This will allow you to visualise your career goals and options, and helps to manifest what you think about and what you want to achieve.
The current job market may be a challenging terrain, but it’s essential to remain optimistic and proactive. Embrace change, adapt to the shifting landscape and focus on fortifying your professional standing. By adopting a resilient and forward-thinking approach, you can safeguard your interests and thrive amidst the uncertainties.
