In a troubled economy, job eliminations and hiring freezes seem almost routine, but when your own company’s woes start to make headlines, it all hits home.Intellectually, you understand that downsizing isn’t personal; it’s just a law of commerce, but your heart sinks at the prospect of losing your position. While you know that passivity is a mistake, it’s hard to be proactive when your boss’s door is always closed, new projects are put on hold, and your direct reports look to you for reassurance. Don’t panic. Even though layoff decisions may be beyond your control, there’s plenty you can do.
Preparing for the Worst: You May Still Need a Plan B.That’s what we have observed in numerous layoffs over the years and in research on how people respond to stressful work conditions. (Author Janet Banks over saw a dozen downsizings as a vice president in human resources at Chase Manhattan Bank and a managing director at FleetBoston Financial. Author Diane Coutu studied resilience during her time as an affiliate scholar at the Boston Psychoanalytic Society and Institute.) We’ve seen that while luck plays an important role, survival is most often the result of staring reality in the face and making concrete plans to shape the future. Machiavellian as it may seem, holding
on to your job when the economy softens is a matter of cool strategic planning. In our experience, however, even the savviest executives are ill-prepared to deal with job threats. Here’s what you can do to keep your career moving and minimize the chances that you’ll become a casualty.
Act Like a Survivor:
A popular partner in the Brussels office of McKinsey & Company mentored hosts of junior consultants. When asked for advice on getting ahead, he always gave the same reply: “If you want to be a partner, start acting like one.” The corollary of this advice is even more important: During a recession, you have to start acting like a survivor if you hope to escape the ax.
Preparing for the Worst: You May Still Need a Plan B.That’s what we have observed in numerous layoffs over the years and in research on how people respond to stressful work conditions. (Author Janet Banks over saw a dozen downsizings as a vice president in human resources at Chase Manhattan Bank and a managing director at FleetBoston Financial. Author Diane Coutu studied resilience during her time as an affiliate scholar at the Boston Psychoanalytic Society and Institute.) We’ve seen that while luck plays an important role, survival is most often the result of staring reality in the face and making concrete plans to shape the future. Machiavellian as it may seem, holding
on to your job when the economy softens is a matter of cool strategic planning. In our experience, however, even the savviest executives are ill-prepared to deal with job threats. Here’s what you can do to keep your career moving and minimize the chances that you’ll become a casualty.
Act Like a Survivor:
A popular partner in the Brussels office of McKinsey & Company mentored hosts of junior consultants. When asked for advice on getting ahead, he always gave the same reply: “If you want to be a partner, start acting like one.” The corollary of this advice is even more important: During a recession, you have to start acting like a survivor if you hope to escape the ax.
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