5 Tips For Managing Your Career In A Crazy Market

”Meltdown Monday,” “Markets Reeling,” “Crash, Bang, Wallop!”

The problems on Wall Street and the ongoing uncertainty within financial services have been a headline writer’s dream this last week. The press and media are full of the problems and dire predictions for the overall economy and job market. Bad news sells, as they say.

But despite all the uncertainty and craziness, you really can still be successful. The focus should be on making your position as secure as possible whilst putting yourself in a strong position just in case something drastic happens to your firm.

Here are some suggestions on how to accomplish this:

1. Be visible by adding value
This is not the time for lengthy breaks or disappearing off the radar. It’s not the time to ‘brown nose’ with superficial ‘profiling’ activities which will do you no good at all. Instead, now is a great opportunity for you to show the value you can create for your firm and their clients. Be a problem solver and value creator by adjusting to the changing needs of the market place. Companies need more problem solvers at the moment, not less. Focus on enhancing your personal brand and reputation by making a difference to the business, their clients and their people.

2. Strengthen your relationships
Your contacts and relationships are key during downturns. So cultivate and strengthen relationships with friends, ex-colleagues, clients and head-hunters. They will be the people you lean on to get you through the next few months if you were to lose your job.

3. Strengthen your finances
If you are impacted in the coming year by a job loss or you decide to take a sabbatical or make a career change then you’ll need to subsidise that. Look carefully at your finances and make sure you’re prepared for whatever happens.

4. Take one day at a time
Don’t worry too much about “having a plan,” - things are far too unpredictable to plan too far ahead. Stay focused on the now and be nimble enough to adjust and be opportunistic as required.

5. Make YOU the priority
In the new world of work, it is vitally importance to think and behave like a freelance consultant or agent rather than an employee ‘tied’ to one employer. Events over the last week illustrate just how important it is to take personal responsibility for your career and think of “Me Inc.” As the fall of Lehman Brothers has shown, you can’t always rely on someone to step in and save you. So be sure to look after your own career first before the interests of everyone else.
As we can see from the various banking mergers last week and from today's historic decision by Goldman Sachs and Morgan Stanley to change their status to commercial banks - the large banks are consolidating and refocussing in order to protect themselves and their future.
You should be doing exactly the same thing…





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By Sital Ruparelia, Cross Posted on the 6 Figure Career Management Blog