Depending on what industry you’re in, your job security may feel a little shaky right now due to COVID-19.
Even if you haven’t lost your job because of the economic impact caused by the coronavirus, or even if you’re able to return to work soon, you may feel less sure of your future career than ever before.
No one could’ve predicted six months ago the situation we’re currently experiencing world-wide.
This is why there really is no such thing as job security. Stuff happens.
The only constant is, business will always be business. Companies will always do what they have to do to keep afloat for as long as possible. Which often means downsizing.
This is why it’s important to invest in what I call “career insurance.”
What is career insurance?
Career insurance is basically another term for comprehensive career coaching. It’s designed to prepare you for any event that may arise in your career.
This includes the expected, like a promotion, voluntary job or career change, or starting your own business. It also 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’m often hired by companies to provide career coaching and outplacement counseling for the employees they have to lay off.
This service 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.
Many of the laid off employees I’ve worked with in this capacity were taken by surprise by the company’s decision.
Several 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 in a growing industry and promises to be loyal to you. Business is business and things change. If your company doesn’t provide you any outplacement services, you may want to invest some severance money into career coaching. This is 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 the job she was in.
She wanted to look for something new, and also explore the possibility of being her own boss. So I got to work on helping her meet these goals.
After only three coaching sessions, Teresa found out her job was being eliminated.
When she got the news, she felt a sense of relief she’d already paid for a career coach and had begun the steps to a successful job search, making the news less of a blow.
She knew our sessions would help put her in the best possible position to find her next opportunity more quickly. She also knew the coaching would help position her for promotion the following 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 season. He chose my basic package of just a few sessions which we completed several weeks later. When I received an update from him, this is what he had to say:
“All of my worlds have been colliding since our last session, and I’ve only been able to handle it because of the great place we got to with our sessions. So thank you. I just had my interview for my promotion that was in the works earlier this season. 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 help you advance in your company if this is 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 the current pandemic or your company’s response to it, 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 and improved security no matter what happens with your career.
Is it time for you to invest in some career insurance? If not now, when?
Don’t wait until your current job security is gone. Click here to get started.
- Getting Laid Off? The #1 Thing to Ask for When You Leave
- 3 Ways to Gain Control Over Your Career in a Recession
- How to Avoid These 5 Career Mistakes During a Time of Panic
- Why You Need to Think Like an Entrepreneur (Even When You’re Not One)
*Names have been changed for confidentiality purposes. Click here to see client-submitted Google reviews.