Are you afraid of getting fired? Here’s how to prepare, or ‘buffer’, for change
‘Career Cushioning’ talks about the nervousness that workers feel in the middle high-profile mass layoffs Y gloomy economic forecasts by 2023. But what exactly does it mean to ‘buffer’ one’s career? Will this help workers weather the turbulent period if a recession hits next year?
cushion this?
Damping is a Strategy borrowed from the dating world where people keep other romantic interests within reach to soften the potential blow of a potential breakup.
Racing damping can be thought of as a buffer for uncertain times. Plus, it can be a valuable strategy, even if the layoffs don’t affect your company. For example, those who are dissatisfied with your current job they may stumble upon new and better opportunities through buffering.
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The data suggests that now is a good time to cushion. According to a recent LinkedIn Workforce Trust Index conducted in September-October, less than half (44%) of the more than 7,000 US employees surveyed felt prepared for a economic fallwhile almost a third (31%) were concerned that their company was planning budget cuts and/or layoffs.
Meanwhile, LinkedIn users increased their job search activity in September, with average applications up 18% over the same period last year.
“While it’s never a bad time to look for a job, it’s a good idea for anyone feeling unsure about the future of the economy and the job market to prepare for their next move,” said LinkedIn careers expert Blair Heitmann. . told Worklife recently. Especially for those in vulnerable industries, he advised, now is a good time “to get your proverbial ducks in a row, so you can be prepared to make a move in the future.”
Damping 101
For those looking for a professional safety net, there are several practical steps workers can take to hedge their bets.
During periods of uncertainty, career coaching can provide great value. Coaching helps people identify their strengths and areas for improvement, set goals and develop a plan to achieve them, and provide support and guidance during career transitions. When it comes to buffering, a coach can identify ways for professionals to effectively de-risk their position in an industry, identify new ways forward and provide feedback on how to get a job in a tight job market.
Keeping the net itself warm is also vital for cushioning. Active networking can help employees discover new job openings before they are announced to the general public. Have a close inner circle of like-minded people It can also be an invaluable pillar of support in the event of a layoff, as some of them may have been through a similar experience.
Resuming momentum is another access tactic for ‘shock absorbers’. This can include updating the resume with new experiences and achievements, highlighting relevant skills and qualifications, and using an attractive design to make the resume stand out visually.
Resumes are what most hiring managers separate the wheat from the chaff, so it’s worth spending extra time polishing it to a shine. Several online resume toolsincluding Zety, Wepik and Resume Genius, help streamline the process.
Those who are worried about losing their first job might want to try a double dip with a second. ‘career polygamy‘ became popular during the pandemic as a way for employees to double their income while working from home. These ‘overemployed’ workers simultaneously work two or more full-time remote jobs (often with overlapping hours) without necessarily reporting to either employer.
Applied to race damping, this would mean starting the ‘backup job’ immediately without leaving the first. While working two jobs can reduce the likelihood of being out of a job, you have the added risk of burnout and potentially lower return in either position. Depending on the circumstances of your work, you may also be required to tell your employer(s) about what is happening.
It might be too soon to tell if professional protection is an effective antidote to the current jitters on the job market. I could try a valuable strategy until 2023 or pass as little more than another feel-good fad in the workplace.
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Ultimately, career protection is about keeping your options open as an employee. Just as diversifying across asset classes is a proven method of protecting your portfolio from pain if one or two investments hit zero, career protection can also minimize the disruption of one’s career from job loss.
Ultimately, the success of the strategy comes down to each individual and how they plan for future career paths and prepare for the worst. However, since a the vast majority of CEOs are preparing for a recession to hit in the next 12 to 18 months, cushioning may prove prudent for many heading into the new year.
This article was produced and distributed by Wealth of Geeks.
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