202.244.3738

Dear Friends and Clients,

My diverse coaching practice allows me to look at professional workplace trends from many perspectives. Lately I’ve been noticing the different ways in which clients are coming to terms with an economy in recession.

For the most part, my younger clients don’t seem troubled. They tend to be high achievers, and most seem confident that the economic downturn won’t have big implications for their careers. But some clients who’re a bit older are – despite being well established and financially secure – making plans and finding ways to prepare for rough times ahead.

If you’ve survived a few recessions, you’ve probably learned that tough times are cyclical, and things eventually get better. But you may also have found that economically troubled times can bring challenges and changes even for people whose jobs are secure.

As I’ll discuss in this issue, when the economy is hurting people start to worry and the national mood seems to shift. It’s worth giving some thought to how you can continue to thrive, despite scary economic trends.

Warm wishes,
Bev

When the Economy Falters
Take Steps to Thrive at Work

May 6th, 2008 * Number 81

The Bureau of Labor Statistics reported a March 2008 unemployment rate of 5.1%, and some economists predict that the rate will rise to about 6% by December. We shouldn’t panic, however, because even that higher number is well below the 7%-10% rates of the early 1980s, and not far out of line with the jobs picture since 2001.

So does that mean that the 94% of workers who are fully employed can ignore the implications of the troubled economy? I don’t think so. Even if today’s financial pressures don’t directly affect you, you may work in an environment that has undergone a shift.

During a recession, attitudes change. We hear about people who are losing their jobs or homes, we feel empathy, and we start to worry. Company leaders may think about downsizing or delaying investments. Even in industries that seem recession-proof, executives may find that it’s easier to hire good help, causing them to demand more from their employees and contractors.

No matter what field you’re in, you might be wise to ponder ways to recession-proof your job. And as you are building your strategy, consider these suggestions:

Find ways to be helpful. When the going gets tough, build a reputation as somebody who is willing to take on the jobs that others don’t want. Now is the time to volunteer for difficult assignments, offer help where it’s needed and agree to undertake challenging or tedious tasks.
Be positive. When your bosses, colleagues and clients are experiencing more stress, the last thing they need is whining or quiet pessimism from you. Research suggests that to some degree optimism is a choice. Take responsibility for your own attitude, and do what it takes to develop a more positive state of mind
Be low maintenance. Even if you’re great at your job, you may be among the first to go if your colleagues think you’re a pain in the neck. When business is booming, employers may feel forced to put up with staffers who demand handholding. But that could change in a different market. Try to objectively evaluate your interactions at work, and ask yourself whether you are bringing good energy to your colleagues, or leaving them feeling annoyed or exhausted.
Cut costs. When management is in the mood for retrenchment, delay your plans to ask for a raise. Now is the time to cut spending, not add to it. If you can spot a new source of revenue that won’t require much investment, a proposal might be welcome. But even if you can’t reduce spending, you may win points by suggesting ways to do more with the same resources.
Cultivate leadership. While it is not easy to define “leadership,” most experts agree that two characteristics that are vital to leaders are self-awareness and high energy. Although it may seem that your immediate opportunities are limited, you can get ready for the future by cultivating the practices that will prepare you for new challenges. Get in shape for your next big leap by exploring paths to good health and personal growth.
Build your network. Achieving professional success is often a matter of finding the right balance. In uncertain times, there’s a lot to be said for working hard and keeping our heads down. But it’s a big mistake to go too far in that direction, cutting us off from broader communities. At the same time you are looking for ways to add more value at work, be methodical in your efforts to stay in touch with old friends, former colleagues and new contacts. Now more than ever you want to actively manage your network.

Want More Insights Related to Your Work Life? In addition to providing executive coaching, Bev is available to speak to your group about a broad range of issues related to productivity and leadership. For reviews of helpful books and an extensive archive of Bev’s newsletters, go to Bev’s Website. Visit her website at www.ClearWaysConsulting.com or email to Bev directly. Bev is associated with Executive Coaching & Consulting Associates.

Bev’s Tips for a Better Work Life is published on the first and third Tuesday of each month by Beverly E. Jones of ClearWays Consulting, LLC. Bev is a lawyer and former executive who now coaches accomplished executives and other professionals to bring new direction, energy and enjoyment to their work lives.

All rights in all media reserved. However, the content of Bev’s Tips for a Better Work Life may be forwarded in full without special permission on the condition that (1) it is for non-profit use and (2) full attribution and copyright notice are given. For other uses please contact Bev Jones.

Our address is: 2925 43rd Street, NW, Washington, DC 20016.