Against All Odds and the Recession

As is now well known, statistics on the average person having to involuntarily look for a new job is between three and five times in a career span. “Job security” – as generations before us knew it, seems to have failed to transcend the generational threshold. Though we are all well aware of this “new reality“, it is an utmost difficult thing to think ahead and plan for these sudden changes. After all how do you remain faithful to your current job, give it your very best and still be looking elsewhere – just in case?

If you are unemployed at the moment or have a hunch/fear that you may be – soon, it is highly likely that your career is not over, not unless you want to pull the plug yourself. However, tighten your belt because the ride may be bumpy at the least, and quite rough at the most. Despite all discrimination laws, the ride will be bumpier and rougher the older you are. When you think about it, discrimination may not have much to do with it at all. The older you are, your experience and expectations are likely to be proportionally higher (relative to your field of work – of course). Your expertise is more likely to be specific. You may not have a lot of flexibility to relocate. etc. All of these things add up to slowly paint you into a nice little niche corner. Based on conventional wisdom – expertise and experience should have high value, in fact they still do, however, the situation is that of demand and supply. It is just that there is higher demand for people that have generic skills and lower expectations. People that can learn new things, become experts in time and ultimately get painted into that nice little niche corner that we visited a few minutes back. Thus goes the cycle-of-life in the rat race. Bear with me, and in a few paragraphs I will write about strategies for prospectors (and prospectors to be – oh that sounded awful!).

Here is a piece of good news: Many Fortune 500 companies that are great with benefits continue to hire, even as they restructure, downsize and offshore. When economic conditions are unfavorable, companies tighten their budgets, lower spending, increase production & sales pressures and unfortunately announce layoffs. This is classic restructuring mechanism. Most companies that layoff employees in a restructuring process, usually continue to hire folks as well, albeit with different skills sets. This paradox, while shocking is not difficult to understand if you step back and look at the bigger picture for a moment. The ambition of any given corporation is not to layoff all its people and ultimately close down. Corporations are forever researching the economics and identifying new revenue streams, leaner operations models, use of the latest in technology, exploiting opportunities in government regulations, labor laws and so on. In the midst of all this – no matter how much you love your job, how hard you work or what your emotional involvement with the company is, at the end of the day you happen to be a number on the CFOs books. Up until the time you add up – you are great, and when you do not, unfortunately it is the end of the road. Of course there is other stuff too – anyone that has spent any time in the corporate jungle knows that things are never that simple, there is politics, nepotism, personal vendetta and all that mess. The intention of this article is to keep things at a slightly dignified higher level, and focus on what you need to do to tide through.

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