Tough Economy Demands Proper View of Employment

How secure is your employment situation?

Given the tough economy, many employment situations are changing rapidly.  There are inducements to leave being offered, layoffs occurring and businesses folding almost daily.

Tough economy or not, over the years, I’ve seen what I thought were some sure things go up in smoke for myself and others more than once.

I might have been naive, but I didn’t seem to be the only one that was caught flat-footed when their job or business hit the skids. 

The days when you could get a job and work until retirement are gone.  As a result, I’ve learned to look at the way I earn a living in a little different light.

The situations that brought about my employment views

First, let me clarify that I am using the term employment more broadly than just the case where you have a job working for someone else.

Employ – to use (as time) advantageously.
~ Merriam-Webster Online Dictionary

Going with this definition, I see one’s employment as the way they are using their time to earn a living.  It could be at a traditional job in the private sector or working for the government or in a business they own.

I’ve come to realize that no employment situation is 100% completely secure.

Let me give you some examples.  I share these not to stir fear, but to help us all acknowledge we must take personal responsibility for our livelihood.

1.  First employer went out of business due to new competition

The chain of supermarkets where I bagged groceries in high school ended up going out of business because they couldn’t compete with the discount stores.

2.  Air Force forced many out due to reduction in forces

I entered the Air Force in the early 90s.  Shortly thereafter, a reduction in forces (RIF) was conducted that asked many officers to leave the service.

3.  Lifetime of service rewarded with forced early retirement

As a training coordinator, I once hired a gentleman in his early sixties that had only one previous employer on his resume.  He had worked his entire life for the local electric company until they forced him into early retirement.

4.  Laid off abruptly when employer suffered IRS judgement

In one of my early IT jobs, I worked at a small consulting firm until one Monday morning when the owner announced he had received an IRS judgement against him that he couldn’t afford to pay so he was closing the business.

5.  Change in CEO resulted in company divorce and layoffs

I managed and was minority owner in a small company owned by a larger entity.  When the larger entity got a new CEO, he decided he wanted to change all the rules.  Our companies ended up splitting up over the disagreements.  My company lost its biggest client and I had to personally lay off some of my employees.  It wasn’t easy.

How these situations changed my employment views

First, let me say, that despite the events above that affected me personally, I have never been unemployed without an income since high school. 

Also, I am not bitter nor do I really have any regrets about any of my employment or business decisions despite the fact that some of them ended unexpectedly.

I learned from all these situations and I believe I am wiser today because of the experiences I have had.

Here’s some of what I’ve learned.

1.  Your value as a person is not connected to who writes your checks

Yesterday, I wrote about how we judge success.  In that article, I tried to make the point that there are better things to use as yardsticks in life than your title, job or even your income.

Employment situations are going to change.  If you tie your self-worth to the method you use to earn a living, then your confidence is going to get beat up.

I’ve learned that my value has nothing to do with who writes my checks.  I am my own person with talents, expertise and skills that stand on their own.  Situations may change, but deep down, I will be the same person today that I am tomorrow.

No matter what happens, I can find someone else that will recognize my contributions and reward me accordingly.  This is true for all of us.

2.  Never become too comfortable where you are at

We can lull ourselves into feeling too secure.  It is never a good idea to become too comfortable where we are and fail to keep ourselves competitive.

 Stephen Covey told us in Seven Habits that we must continually sharpen the saw.  If you aren’t learning something new, then you are falling behind. 

Being behind in your skills and unexpectedly finding yourself without an income is not a good place to be.

Staying up-to-date in your field and continuing to make new contacts is an important way to maintain real security.

3.  Always view yourself as an independent contractor

A good independent contractor is always on their toes.  They have to be in order to keep a steady stream of income flowing.

No matter what your employment situation is, think of yourself as an independent contractor.  If you have a traditional job, then you just have one big client.

The way an independent contractor works and thinks is beneficial because:

• They are always trying to add value and uncover new projects to prolong their current contract
• They know their current contract will end eventually so they continually keep their eyes and ears open for where their next opportunity might come
• They part on good terms being sure to never burn bridges
• They are flexible and willing to be innovative in the contract arrangements in order to get a job and keep it going
• They know their livelihood is their responsibility.  They have to hustle to keep the money flowing.

Adopting the mindset of an independent contractor will minimize the probability that you will ever be without income for long.

4.  You are not married to your current employer or business

Marriage is until death do us part.  Your employment situation lasts only as long as it is mutually beneficial.

Once either party decides they are no longer deriving enough benefit from the arrangement, then the gig is up.

I have seen way too many people stay in a situation way too long because of some emotional hang-up that they weren’t willing to let go of.

In most cases, the emotional hang-up is fear of the unknown.  Don’t overstay your welcome just because a big change is scary.  Make a change on your terms or it will happen when you least want it or expect it.

Don’t get me wrong.  I strongly advocate loyalty to those helping to pay your bills, but you also have to view your employment as a business arrangement.  Be logical!

These employment views will serve you well

Adopting these attitudes toward your employment situation will help you to avoid large gaps in earnings.  It has worked for me despite some tough circumstances.

Again, these views apply whether you work for yourself or someone else.  You can adapt them yourself to fit your situation.  Hope they help!

What views would you suggest along these lines?

Photo by _StaR_DusT_

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