In this new era of austerity, white-collar workers are feeling the pressure of layoffs. After a period of relative stability, it is important for office workers to be diligent and secure their jobs. Quitting without a plan, settling for the salary you have, and jumping ship are no longer viable options. You need to go above and beyond to make yourself invaluable. Working remotely is a great way to achieve a healthy balance, but it is also important to be present in the office five days a week. Put in the hours, but also stay alert for other opportunities in case you are let go. It is important to integrate yourself with your boss, so you can understand what is expected of you and how to exceed those expectations. This could even lead to a promotion.
Unfortunately, job cuts are becoming increasingly common. The Federal Reserve Bank has cut more than 150,000 tech jobs in 2022, and the start of the new year has brought thousands more layoffs. Companies such as Amazon, Vimeo, Salesforce, Goldman Sachs, and Coinbase have all had to downsize their staff.
To secure your job and make yourself indispensable, it is important to take control of your career. Schedule a conversation with your manager and HR to express your love for the company, your job, your boss, and your co-workers. Share your ambitions and inquire about the company’s plans for you. If the company shows that they value your contributions and have thought about your career trajectory, that is a good sign. If not, it may be time to start considering other options.
The availability of cheap money, low-interest rates set by the Federal Reserve Bank, and a growing demand for goods and services over the past few years led to an influx of hiring by companies. However, the trillions of dollars of stimulus money injected into the market to keep the economy afloat during the pandemic caused record-breaking rates of inflation. To counteract the negative effects of inflation on American households, the Fed raised interest rates to slow down the economy. This was done with the intention of pushing businesses to trim their expenses and let go of employees.
If you find yourself in a situation where there is no clear way forward, maintain a positive attitude and keep working hard. Additionally, reach out to trusted recruiters in your field, create a list of organizations you would like to work for, and contact the in-house recruiters, HR representatives, and potential hiring managers. Make sure to go into the office five days a week, even if your company offers remote or hybrid work options. Take on difficult tasks that others may shy away from and avoid associating with toxic co-workers. Showcase your capabilities and let your boss and their superiors know of your achievements.
It is important not to become bitter or vengeful as a result of not getting promoted or receiving raises and bonuses as readily as in the past. Additionally, refrain from airing internal grievances on social media platforms or else you may damage your reputation. Instead, put in the effort and patience necessary to become a valuable and irreplaceable asset.