Want more job security? Quit your job. Not an option? The next best option is to invest in career insurance.
What’s career insurance? I’ll answer that, but first let’s not just gloss over the first option.
I’m serious. If you want a guarantee of job security, then quit your job and you’ll eliminate all chances of ever losing it. Then you can become your own boss and make all the hiring and firing decisions. Including the decision to never fire yourself.
Since leaving my full-time job with benefits where there were constant hiring freezes and multiple firings, I’ve had more job security than ever before. I’ve been able to develop the grit and skills required to work for myself and bring in a steady stream of clients, to supplement my income at times when the stream was unsteady, and to eliminate the salary cap I had at my previous job.
Not only that, owning my own business has helped me develop skills I never would’ve developed in my previous job. This has made me more marketable for even more job opportunities if I ever decide to close my business and work for someone else again.
But, if quitting your job isn’t a feasible option for you right now, there’s still one more simple option available to give you a little more job security. Invest in career insurance.
What is career insurance?
What is career insurance? It’s basically another term for comprehensive career coaching designed to prepare you for any event that may arise in your career. This includes the expected, like a promotion, voluntary job/career change, or starting your own business. And it includes the unexpected, like a layoff or a loss of business.
Think you don’t need career insurance? Let me share a few stories with you.
The Unexpected Layoff
I’ve recently been hired by a company to provide career coaching for the employees they’re laying off. This isn’t something all companies provide their pink slip employees. So don’t assume your company will do the same for you if you get laid off. If they do, take advantage of it!!! It’s on the company’s dime and it can help you find your next opportunity much faster than trying to do it all on your own.
This particular layoff came as a total surprise to those affected by the company’s decision. Each of them have said to me, “I always thought I’d retire at this company. I love my job and the people I work with. And I had no intentions of ever leaving and never thought I would get downsized.”
Lesson #1: Never assume you’re not at risk of losing your job. Even if your company is growing and promises to be loyal to you. Business is business and things change. If your company doesn’t provide you any outplacement services or career coaching, you may want to invest some severance money into career coaching so you can find your next opportunity quicker and learn how to negotiate a higher salary. Learning such skills will pay for any coaching expenses, and then some.
The Need for a Change
Teresa* hired me for some career coaching services because she was very unhappy in her current job due to a lot of changes in that job. She wanted to start looking for a new job and also explore the possibility of working for herself. So I got to work on helping her meet these goals.
After only three coaching sessions, Teresa found out her current job was being eliminated. When she got the news, she felt a sense of relief that she already had (and had already paid for) a career coach and had already begun the steps to a successful job search, making the news less of a blow.
She knows our first few sessions and our remaining sessions will put her in the best possible position to find her next opportunity more quickly. She also knows the coaching will help position her for promotion by this time next year.
Lesson #2: It’s better to already have some career insurance in place if and when an issue arises, than to not have it and wish you did. Especially if you don’t receive a good severance package.
Prepare for the Worst, and the Best
I started working with Shane* at the beginning of the summer. He chose my basic package of just four sessions which we completed at the end of July. I recently received an update from him and he had this to say,
All of my worlds have been colliding since our last session, and I’ve only been able to handle it all because of the great place we got to through our sessions. So thank you. I just had my interview for my promotion that was in the works earlier this summer. Whatever shakes out, the confidence and clarity I gained from our sessions made the interview process really rewarding.
Lesson #3: Career coaching isn’t just for leaving your company. If you like where you work, coaching services can also help you advance in your company if that’s your goal. It can also prepare you for any career curve ball (good or bad) that may come your way.
How to Increase Your Job Security
While you have no control over your company’s decisions or the current job market, you do have control over your own career strategy. paNASH’s career coaching services help you develop a strategy to leverage your skills and market them for new opportunities, providing career insurance no matter what happens with your career.
Is it time to for you to invest in some career insurance? If not now, when? Don’t wait until it’s too late. Click here to get started.
- Are You Ready for the Future? How to Avoid Technological Unemployment
- How to Think Like an Entrepreneur (Even When You’re Not One)
- Maintaining Positivity in the Face of Job Loss or Job Rejection
- How to Make the Risk of Starting Your Own Business Doable
- 5 Common Fears (and Myths) of Quitting a Job You Hate
*Names have been changed to maintain confidentiality.