Job security is a term that is often thrown around in hard economic times. The idea of job security has changed a great deal in the past 3 decades. It used to mean finding a solid position at a successful company. If you showed up on time, and performed your tasks well then advancement and pension were things you did not have had to worry about. Today, there is no job security. It is a career attribute that no longer exists in our volatile economy. There are several reasons that job security has disappeared from our job market. These reasons include downsizing, rightsizing, restructuring, temping, and outplacement. Companies are no longer stoic structures which are left untouched by the global economy. They suffer through buy outs, mergers, and sometimes go belly up. Most employees never consider what will happen if their company goes out of business until it is far to late.
While companies can no longer offer job security, you as an individual can create your own version of it in three easy steps – learn how to survive restructuring, make yourself more ‘employable’, and plan for an emergency. The key to keeping your job while your company under goes restructuring is to be open and positive to change. When new management is brought in, embrace and help them adjust to their new work place. Yes, losing coworkers and friends is hard but losing your job is worse. You must constantly be working develop yourself professionally. Take full advantage of corporate funded training, and tuition reimbursement programs. Make sure you stay current with financial trends in your particular career and company – read the literature, understand the research, and be willing to share your new knowledge.
Believe it or not you can make yourself more employable. Make sure you maintain professional contacts and network as much as possible. Build strong professional and personal bridges with as many people as possible – managers, clients, coworkers, and vendors. Staying in touch with the people who are well versed in the field, you work in, can offer you endless opportunities to advance or change jobs easily. These people are more than willing to help you find a new position. Even if the company you work for is doing well you should keep your resume updated. In addition keep a list of accomplishments and performance evaluations, and keep your interview skills sharp.
True security comes with being prepared if you do lose your job. Make sure you create and continue to build an emergency fund. Most financial professionals suggest you set aside 6 months worth of income in a money market fund. Make sure you have the ability to draw checks or use a debit card when you need to access this money. Looking for a new job can be emotionally and physically draining. Having an emergency fund reduces the stress, allowing you to have more time and energy to find your perfect position. The economic climate of corporate America is unpredictable in today’s new millenium. Job security may have disappeared but there is no reason that you can create your own.
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