Instead of seeking out a new position when companies are downsizing, enacting hiring freezes and ... [+]
Forget about the Great Resignation and switching jobs at will. Instead of seeking a new position when companies are downsizing, enacting hiring freezes and slow-walking the hiring process, seek out ways to advance your career within your current organization.
For the last 18 months, the job market and economy seemed great. The United States had low unemployment and jobs were plentiful. As a job hunter, there were around 11 million jobs available and you felt confident to take the leap and switch roles relatively easily. If the position didn’t work out as you’d hoped, you would cut your losses and move on to another opportunity.
Americans are now in a new environment of economic contraction, high-interest rates and supply chain disruptions with a possible recession on the horizon, costs increasing across the board and concerns about the escalation of the war in Eastern Europe.
In this challenging time, you need to be extra cautious with the decisions you make concerning your career. You don’t want to switch jobs only to find out later that you were the last one hired and first person fired.
Why The Job Market Changed So Abruptly
You must be extremely thoughtful and deliberate in managing your career. The job market, economy and overall mood of the country have abruptly changed. On a daily basis, companies are reporting layoffs, hiring freezes and rescinded offers. The days of easily switching jobs are over for the foreseeable future.
The Federal Reserve Bank announced that it would raise interest rates and stop quantitative easing, in an effort to whip inflation. The federal government has put an end to the trillion-dollar stimulus programs. As a result, the cheap money that flowed freely was shut off.
The combination of runaway inflation, along with new austerity policies from companies to cut costs and prepare for a possible recession, places Americans in a new, more challenging era. It will be riskier to seek out a new job.
You Need A Strategy To Succeed
Companies generally pump the brakes on new ventures in a tougher economy, as they’re in cost-cutting mode. Since there is less growth, you need to develop a strategy to advance within your company. The first thing you should do is figure out what you want. Consider the type of role you would love. Then, start designing a program of how you can achieve your goal.
Speak With Your Boss
Start executing the plan by requesting a meeting with your boss. Let them know that you love the company, think they’re a great manager and believe in the corporate mission. Share with them your goals and aspirations.
Be mentally prepared. The talk can go two ways. The best outcome would be that your supervisor is relieved the conversation isn’t about tendering your resignation, and they’re delighted that you’re committed to the company and want to advance. Together, you can collaborate on a path heading toward reaching your desired role within the firm.
The less optimal result would be the manager saying, “I’m sorry, but right now, everything is on hold due to the current uncertainty.” Despite the setback, if you walk away feeling the answer was sincere and not a blow-off, give it some time and try pitching them again.
In addition to speaking with your supervisor, ask for a stay interview with human resources. The stay interview is a relatively new concept. It's like an exit interview, but the intent is to remain with the company rather than resign. The conversation is focused on mutually exploring how you can remain a loyal employee and grow internally.
Take Action
Take a brave and bold approach. Directly ask your manager for a promotion. You’ll need to sell yourself. Come across as positive, professional, motivated and enthusiastic.
Have a concise pitch ready. It will set forth all of your achievements over the last year. Discuss the specific contributions you made. Bring letters of recommendation from people you’ve worked with at the firm. If you are in a role that can be quantified by numbers, show that you’ve exceeded your sales quota by a large percentage. Offer details about the projects and tasks you’ve completed that added to the bottom line of the company.
Once you’ve identified what role you want, take an assessment of your talents. If you are lacking some of the requisite skills, ask your manager and HR if the company offers upskilling, training, coaching, access to online courses, accreditations and lessons to learn new technologies that will help you climb the corporate ladder.
To rise within an organization, you need to look and act the part of the role you aspire to. You want people to see you as a fast-track and motivated person who wants to succeed and thrive within the company.
Seek out a mentor who can offer advice and guidance. Instead of trial and error, a mentor could help you avoid all of the mistakes people make on their career journey. The person could take a liking to you and provide introductions to influential decision makers within the organization who can help grow your career.
Cultivate a network of like-minded people. Surround yourself with folks who also want to succeed. With a mutually beneficial approach, you can crowdsource ideas, insights and internal job openings that haven’t been publicly announced.
It may be uncomfortable at first, but you will need to champion your own cause. Find ways to politely let higher-ups know what you’ve been doing. Share your achievements and wins without bragging.
If you’ve noticed that your manager is overwhelmed, as the firm has enacted a hiring freeze and several employees have left the group, offer your assistance. Tell them that you will gladly take on the extra workload and help manage the team. If your manager buys into your pitch, you can create your own job overseeing the team. This could then lead to the next step up.
Go Into The Office
Remote work has the advantage of offering a better work-life balance. Although you may prefer operating from home or tolerate a hybrid model of going into the office a couple of days a week, go into the office five days a week.
While this was standard procedure for decades, returning to an office setting sounds revolutionary. In a sense, it is. Going into the headquarters each and every day offers visibility. As your co-workers are at home and only appear as small heads in a box on a video call, you’ll be noticed on a regular basis. You’ll benefit from the proximity bias.
A survey from the Society of Human Resource Management, the largest human resources organization, revealed that managers often overlook their work-from-home employees. Around 70% of supervisors of remote workers reported that they view remote workers as more easily replaceable than onsite workers, and 72% say they would prefer their staff to work in an office setting.
With fewer people walking the hallways, you can meet and interact with senior management. Serendipitous encounters could lead to forging a relationship with an executive who can greatly impact your internal career advancement. When the chance arises, ask people how you can help them. Offer to take on new tasks and responsibilities. All you need is for one executive to notice your drive and ambition and offer you a new position within the firm.
There is an added protective benefit too. Since you’ve made yourself an indispensable go-to resource, the odds are in your favor that if the company needs to enact layoffs, you’ll be protected as they don’t want to lose a fast-track, potential star.
Changing The Nature Of Your Job
Instead of taking a risk by quitting your job, try crafting or reframing your current role to find meaning and purpose. In conjunction with your supervisor, HR and other relevant personnel, discuss ways that you could redefine your responsibilities.
Focus on what aspects of the role you love, and those that could be passed on to someone else. See if you can take on additional responsibilities that you enjoy doing or start a new product line. This could lead to creating a new role for yourself.
