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In the latest Mastering Business Analysis podcast, David Mantica chats about ways to protect yourself from layoffs and prepare for career advancement opportunities. The unfortunate reality is that many of us will experience unexpected (and undesired) career changes. Companies may merge, the economy may slow down, your organization may need to make budget cuts, or you just may be stuck in a toxic environment.
While some of these job losses are the result of performance issues, many may be unexpected, are out of our control, and may happen to even high performing individuals.
What you can do to protect yourself.
Early planning and preparation are key. Often people are caught by surprise and haven’t prepared. Most of us don’t update our resumes until we need to. This prevents us from being able to quickly recover from an unexpected job loss or even take advantage of a new opportunity.
You can prepare for both positive and negative surprise career changes by building your network and talking to recruiters. Your network will work with you for who you are; your potential. Recruiters will work with you for what you’ve done.
The potential problem with recruiters is that you may end up in a similar role and face similar issues because they’re focusing on the work you’ve done and found a good fit with a new organization.
Your network may be able to help you find new opportunities in different fields or different roles because they understand your potential and they understand that other skills can be taught.
From there, there are three elements of career insurance; insuring your current role, preparing for a future possible job loss, and insurance against negative carer changes (that doesn’t actually exist today).