Career Management in a Down-turned Market

Featured as "Career Management Should Address Both Risks and Opportunities" in the

 June 29-July 5, 2001 edition of the Houston Business Journal

It’s clear that the abrupt deceleration in business growth has taken most of the technology marketplace, and its workers, by surprise. Like a driver forced to slam on the car brakes to avoid an ugly wreck, the technology industry is now dealing with all the items, especially people, that have been thrown around the vehicle. 

Although the worst of the ride is probably over for most, many companies are still restructuring and retrenching. That means the rough ride is not over. As the marketplace resets and consolidates, merger and acquisition activity will pick up – meaning more uncertainty and less stability than most employees care for. 

In the midst of this queasiness, it’s easy to feel that the only approach is to buckle up, hang on, and ride things out. Others, left without jobs in a still cautious marketplace, are finding many doors closed to them. Regardless of your current job situation, it’s time to examine your career strategies. Every crisis situation creates not only risks that must be managed, but also many opportunities to exploit. Career management in today’s downturned market should address both the risks and opportunities. 

First, let’s create some perspective. Technology is not dead. The spectacular bursting of the dot-com bubble is not the end of the tech boom, only “the end of the beginning,” Microsoft’s Bill Gates recently said. This decade is the big one, he said. 

How about the economy? It’s not dead, either. Many retail and institutional investors as well as analysts are expecting the economy to recuperate later this year, and also expect a market rally to ensue. However, the individual perceptions of what a recovery is vary dramatically. 

So, even though things may not necessarily be that good, it appears that they will be getting better – although we don’t know to what degree -- toward the end of 2001. In the meantime, what do you do now to respond to your career circumstances? 

If you are currently employed, make “take care of the present” your overarching theme. It may seem obvious, but you need to objectively examine how you are handling yourself. To do this, make sure you cover these three points: 

§         Do a great job – with the heavy winds of change and uncertainty swirling around you, it’s easy to get distracted. Although it may be harder to focus, make sure your performance is not suffering. 

§         Manage your boss – always keep in mind that your main function is to help your boss succeed. You should also always be working to build and maintain a strong working relationship with your boss. 

§         Be well thought of – what do others within your organization think of you? Work to achieve a consistently good attitude and perspective. Be a team player. Avoid the gossip and politics that can undermine morale. 

If you have been displaced by the recent industry turmoil, consider these points: 

§         Drop off the baggage – it’s natural for people to feel that they got a raw deal – in many cases, they did. It’s a painful experience to lose a job. However, vent your emotions only in a safe environment, then get over it. Put it behind you and move forward. Avoid the critical mistake of carrying your emotional baggage into an interview for a new job. 

§         Get support – there are a number of individuals and groups that provide training, education, and resources to improve your ability to find meaningful work. The best ones are empowering, inspiring, and supporting. All of them provide a critical ingredient to a successful job search – personal accountability. Find an organization that best fits your needs. 

Perhaps the greatest lesson learned by many during this turbulent period of time is this – your career is much more than your current job. The need to be proactive and take ownership of your career has never been greater. So how is this done? Here are a few thoughts: 

§         Create a career vision and have a plan to get there -- if you don’t know where you are going, then any road will get you there. Take control by knowing your destination and arming yourself with a roadmap. 

§         Be visible outside of your current company – building your network may be the single most important career management tool available to you. Learn to do it, and do it well. Also, find opportunities to lead. Don’t just join an association, but participate. Get involved with a committee and contribute. Raise your profile by seeking out speaking and writing opportunities. And don’t forget to always be courteous and helpful to recruiters. Aim to create long-term relationships and incorporate them into your network. 

§         Always be learning – it’s widely known that there is a skills gap in the technology industry. A recent analysis by Gartner Group predicts this gap will continue to widen over the next several years. Beyond the obvious need for technical skills, there is a growing need for leadership, management, and supervisory skills. Employees that best address this skill need will clearly be best positioned for future opportunities. Assess your capabilities and work to address your gaps and also deepen your strengths.

So, here’s where the rubber meets the road – although you can’t control the economy or industry circumstances, you can control your career path and ability to respond amidst the circumstances. If you aren’t proactively managing your career, the time to begin is now. Use the next several months to move yourself from being a passenger in the vehicle to sitting behind the wheel.