Even before our country’s most noted economists could reach consensus regarding whether we were or were not in a recession…..we knew. Every time we pulled our cars up to a gas pump or stood in a grocery store check-out line…..we knew the nation was in a recession.

 

And, for those of us who were still not convinced, we began to watch entire industries (real estate, mortgage lending, financial services, automobile manufacturing) shudder and we paid close attention when banks began to fail. Although we tried, we could not look backwards far enough into the country’s history to find anything comparable to what we are experiencing in the economy of today.

 

It isn’t as severe as The Great Depression and according to Forrester’s research analysts, there is a 55 percent chance the economy will not get worse; 35 percent chance we will sink into a more shallow recession and a 10 percent chance of entering into a deep recession. The short term job outlook for corporate professionals will be challenging as major corporations plan for massive layoffs, plant or store closings.

 

Someone’s name has to be on the short list, does it have to be yours? Not necessarily says Lynette Lewis, author of Climbing the Ladder In Stilletos, speaker and corporate consultant.

 

“Stay aligned with the areas of key significance to your company. Be on the lookout for where your organization is putting its time, money and emphasis. Then, get yourself, your team or your department aligned with those projects or plans.

 

Whether this requires getting smart, volunteering for a special Advisory Committee, or finding a new way to connect your department to what is happening, do it. Be ready to ride the wave that is tied to where your company’s money, time and efforts are going.”

 

There is no guarantee that you won’t still lose your job, but chances are you will rebound more quickly with a positive attitude and a strong focus on delivering value.

 

Lynette also suggests that women stay abreast of the latest trends by reading professional magazines and periodicals.

“Each major financial magazine publishes an annual issue that details where innovators and trendsetters are headed in the industry. Once you identify an exciting trend in your industry or field of expertise, sit down and brainstorm ideas around how to create a connection between you and that trend.

 

A couple of years ago, I noticed a market emphasis on personal branding. I realized that my knowledge of branding products and services could easily be related to the concept of branding one’s own self. Because there was a lot of interest in that, I developed my own thoughts on it and my thoughts then became the platform for writing articles, delivering speeches, conducting workshops, etc. I have probably developed four or five solid things to bring to the market on personal branding that I never originally felt connected to until I figured out how to connect myself to a trend.”

 

Managing your career during a recession is about making the right offensive and defensive moves to protect or re-engineer your career. The truth of the matter is this: Wells Fargo is expected to cut 25,000 to 28,000 jobs as part of its absorption of Wachovia Corporation. Bank of America and Citigroup announced plans to cut somewhere close to 100,000 jobs between the two companies [1]. Businesses across the U.S. are cutting back on executive compensation, eliminating bonuses, cancelling store openings, scrapping merger and acquisition plans, and suspending the funding of retirement plans all as cost-cutting or cost-saving measures. And, even though non-profit organizations are experiencing increased demand for services, they are also coping with ways to cut costs as a result of decreased levels of charitable giving.

 

It does not matter whether your career exists within the corporate arena or non-profit sector, jobs are being lost and rather than pretend the likelihood of possibly losing yours does not exist, plan your “What If” scenario and be prepared. If your name does end up on the company’s short list, making the right moves could either help you land softly (get another job right away) or it could provide you with a much needed kick-in-the pants to encourage you to branch out and explore new opportunities.

 

Rule #1 – Never let ‘em see you sweat

The worst just happened. Your services are no longer needed and the only way to get through this unpleasant experience is to draw on your inner resolve to not fall apart. It is a job after all and the full measure of your worth cannot be summed up by a job. You are MORE…..so much MORE. Once you receive the news, whatever you do next will make the difference between landing another job right away and being blacklisted from the company for good.

 

I vividly recall the way my boss called me into his office at 3:00pm on a Friday afternoon. He politely informed me that my position as Director-Executive Search was to end on that same day. For all of five minutes, I remained completely silent. Once I came out of my coma and mustered the strength to speak, I asked a few questions about benefits and severance, and then thanked him for the opportunity to be a part of his team. As I sat at my soon to be ‘former desk’ packing up personal belongings, it occurred to me that I should place a courtesy call to all of my internal customers; to thank them for doing business with me over the years.

 

The first Executive Vice President that I dialed up was surprised the company was divesting itself of such talent and arranged for me to interview for an Operations Management role leading one of his teams. Three days later, I concluded a round of interviews and received an offer for a higher salary, guaranteed annual bonus, stock options, and the chance to grow my managerial skills in a new business function. Simply taking a few minutes to say, “Thank you for doing business with me” made all the difference and I landed softly. Lynette Lewis urges women to, “Try not to take the situation personally and remember that God is in charge of your life and He has a plan. Choose to believe that what is happening is not out of His sovereign control.” This could be the best thing that could ever happen to you.

 

#2 – You control how your dignity is defined

Linda Lockman-Brooks, President of Lockman- Brooks Marketing Services has framed her career in corporate consulting and marketing by learning how to successfully navigate complex corporate systems. She has helped organizations map out strategies for right-sizing and has been on both sides of the job elimination equation. She offers this advice to any woman whose position is eliminated:

“Stand up, hold your head up, walk out of the room gracefully and then……breathe. Remember that although this can be an emotionally traumatic experience, you are not defined by your job.” Your job is what you do, not who you are. Pull it together and put your game face on. “Once you get home, go ahead and grieve over the job you poured yourself into but don’t stay in that place for very long. Seek out your support system and be honest with them about what you’re feeling. Then, prepare yourself to begin moving forward.”

 

#3– Take a self-inventory

“This is a great time to recognize God’s plan for your life and to begin focusing on what is attainable and doable….right now”, says Linda.

What are you good at?
What do you really enjoy doing?
What have you accomplished in difficult circumstances or environments?

Assess all areas of your life and take this opportunity to begin focusing on and taking care of YOU.

 

#4 – Dream a new dream

Taking a self-inventory gives you the opportunity to truly assess where your passions are. Without waiting for visible evidence of a change in your circumstances, begin to dream a new dream. Follow the advice above and become knowledgeable about what’s hot right now. Where is your industry going? What are companies or consumers in your field doing right now that you can connect to? Once you make your personal connection to a trend, be bold enough to stake a claim to it.

 

Lynette Lewis coaches women to “Feel the fear and do it anyway”.

She says, “As women who are predominantly nurturers, we tend to be reluctant to put a stake in the ground and create that connection. We tend to wait for permission or for somebody to tell us we are expert at something. We don’t often feel like an expert, but if you look at experts, the way they became experts is they put a stake in the ground. They wrote or spoke about something that’s happening and by virtue of it being their intellectual property, they became an expert. Women grow up with faulty messaging that says, ‘Wait to be discovered’, ‘Wait for permission’. Are you going to stake a claim to what you know? I know the more confident I act, the more confident I become.”

 

Set your sights high and go for it!

 

#5 – Refuse to let lack of confidence masquerade behind excuses

Yes, the worst thing just happened, but you are not the only person it has ever happened to. Sure, it is a tough cookie to swallow but you are quintessentially WOMAN and you have enough resilience and tenacity built up inside you to brave any storm. And this too shall pass. Don’t bludgeon your self-esteem with excuses for not moving forward. God has given you everything you need to begin carving out a new niche for yourself. As long as you are stuck on ‘pity party’, you will forget to tap into that vast network of yours. You will forget how wonderfully talented and gifted you are. You will forget to seek out and cultivate old and new relationships. Use this as your absolute perfect time to pursue new opportunities. Acknowledge that your self-confidence is a bit bruised but summon up the courage to get moving anyway. There is much going on around you. As Linda Lockman-Brooks puts it, “Look at your surroundings. See what is happening around you and pay close attention to finding ways to participate.”

 

There is no way to guarantee job or business security in today’s uncertain economic climate, but the smart money is the woman who understands the importance of guiding her career….strategically based on the above tips. Connect to what is going on around you; get on the Board of a non-profit organization or steering committee; expand your intellectual capital; and stake your claim as an expert based on what you know. Conquer your fear by taking action. Weather the economic recession and dare to come through it a stronger person than you were before it began.

 

 

 

 

 

 

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