Here’s something you may not have thought about:
How to keep your job in these uncertain times.
(Or, you can skip to the front of the line and schedule some time with Tammy.)
The phrase “uncertain times” gets thrown around a lot lately, but things really are uncertain. Companies that thought they would outlast the pandemic are finding that their margins are still not as healthy as they used to be. Because of this, reductions are happening.
It’s not a fun topic, and we don’t know what’s going to happen in the future, but I want you to be prepared in case you’re made redundant through an acquisition or merger or if your boss has to decide between you and someone else to let go.
Keep in mind that if you’re given a good severance package of nine months or more, it might be a good time to look for a significant move up—especially if you’ve been at the same company for 5 years and definitely if you’ve been in the same role for more than 2 or 3 years.
Oftentimes, your next job will pay you 15-25% more than what you’re making right now, especially if you switch companies. In that case, getting laid off might be a blessing in disguise.
Whether you want to stay in your current job or start searching externally for your next position, there are some things you can do right now to get ready.
- Document Your Successes: Think about what you’re most proud of in every job you’ve held. The biggest achievements. The way you added value to the organization. Think in dollars and cents, but also in improved processes.
- Write Down the Before & After: What did things look like before you improved the process? How much better did they look after?
- Start Thinking of Yourself as a Standalone Investment: You are not just a candidate: you are a standalone investment with a personal ROI. How do you pay for yourself in your current job? This information is really important to know about yourself.
- Use LinkedIn to Your Advantage: Spend a few minutes each day using LinkedIn to connect with Executives who can benefit your career now or in the future. Start a casual dialogue and see where it takes you.
When our clients use LinkedIn to connect with potential decision-makers that don't know them, they get between a 30 and 45% acceptance rate.
Use the full search feature on LinkedIn to find the people who could be your boss in the type of companies you want to work for next. Keep in mind that 70% of people who change jobs also change industries—don’t be afraid to venture out into other areas!
When it comes to LinkedIn, a little goes a long way: if you collect hundreds, maybe thousands of connections with higher-ups on LinkedIn, that’s thousands of potential hiring managers now in your contacts—people who have the budget and hiring authority to create your next position.
You might not need them now, but get your template messages ready and make those connections in the short term so you’re ready for your next move in the long term.
NOTE: Employers are now still likely to hire you remotely unless you are going for a CEO role. Most other C-Suite jobs can be negotiated to a hybrid model or fully remote.
Most of our clients over the last year did receive a remote position. I think we’re going to see this trend continue with higher-level employees like Directors, VPs, and C-Suite Executives.
Keep in mind that If you’re willing to work from home, you can find your next role anywhere in the U.S. or even the world. Companies are finding that you can still get great work done from home.
The remote work possibility really opens up so many more potential opportunities for finding that next role that will pay what you’re worth. With location no longer a hindrance for most roles, it allows you to be very specific in other criteria, like industry and size company.
