| It's no secret that corporate downsizings are | | | | as well as externally, regarding job market |
| stressful. A recent study found that employees | | | | opportunities and allows a business professional to |
| over fifty who lost their jobs involuntarily more | | | | exercise good strategic decisions instead of |
| than doubled their risk for heart attack or stroke. | | | | knee-jerk reactions. |
| (Journal of the Royal Society of Medicine 7/2006) | | | | Support Coalition |
| The outlook isn't any rosier for those who remain. | | | | All professional transitions require a broad network |
| According to a Finnish study, survivors of a major | | | | of support to be successful. This is true whether |
| downsizing doubled their risk of heart attack, with | | | | the transition is a job search, a promotion or a |
| the risk growing to five times normal after five | | | | new entrepreneurial adventure. It's never too |
| years. (British Medical Journal 2/2004) Apparently, | | | | early to start building a business coalition. In fact, |
| keeping one's job just to be overworked and | | | | the last thing a business professional wants to do |
| under-staffed may be even more risky than | | | | is to touch base with a key contact only when |
| getting a pink slip. | | | | they need something. Building a business coalition |
| A downsizing threat triggers our biological flight or | | | | involves regularly supporting the agenda of others. |
| fight mechanism. "It's nothing personal," | | | | Some believe that business coalitions are built on |
| organizations try to assure their staff, "It's simply | | | | country club golf courses or in smoky back |
| a business decision." But a business decision to | | | | rooms. That might be true, but coalitions are not |
| terminate employment impacts employees in | | | | built with golf balls and cigars. Coalitions are built by |
| very personal ways. It affects family, financial | | | | understanding and supporting the agendas of |
| security and, perhaps most importantly, personal | | | | associates. This can be done in lunchrooms, at |
| identity. When we feel like we're losing control, our | | | | water coolers, in the hallways and at the PTA |
| stress level shoots through the roof. During a | | | | potluck. Never miss an opportunity to contribute |
| downsizing, decisions about our careers are being | | | | to the success of a co-worker, subordinate, boss |
| made without our input. Reclaiming control seems | | | | or neighbor. The career you save may be your |
| all but impossible, but reclaiming control is exactly | | | | own. |
| what we must do to protect our health and our | | | | Career Focus |
| careers. Understanding what we can control helps | | | | Are you doing what you love or would you rather |
| reduce the stress and allows us to put our lives | | | | be doing something else? For all the fear, |
| and dreams back on track. | | | | discomfort and angst that accompanies a layoff, |
| Asset Inventory | | | | it has been my experience that an unexpected |
| The first thing that a business professional should | | | | termination is often the spark that ignites a stalled |
| do when a layoff looms is to conduct a quick but | | | | career. Change is coming so why not use its |
| thorough inventory of assets. Like a business, an | | | | momentum to move out of your rut? Focus on |
| individual has a portfolio of financial and intellectual | | | | what you really want. What would it take to live |
| assets that requires regular maintenance. It's | | | | your dreams? Start putting your plan together. As |
| these assets that provide the bridge from the | | | | I often tell my clients, "If you can tell me what |
| here and now to the next professional situation. | | | | you want I can show you how to get there." If |
| What new skills might increase value immediately? | | | | you were living your dream before the layoff, |
| What areas of expertise need to be refreshed? | | | | chances are very good that you will be living that |
| What degrees or certifications would build overall | | | | dream at another location fairly soon. If you were |
| value? What adjustments can be made to | | | | never that satisfied with your job, now is the |
| improve financial health? | | | | perfect time to put together a solid plan for |
| Intelligence Analysis | | | | achieving your dreams. |
| Rumors run rampant during a downsizing. An | | | | The best survival tactic for a layoff is recognizing |
| Australian study conducted on the rumors that | | | | that it's your life and you are ultimately the one in |
| circulated in a hospital during a major layoff | | | | control. Although it is tempting to turn your career |
| identified them as a coping mechanism that | | | | over to an employer and hope that hard work |
| allowed people to express their deepest, darkest | | | | and dedication will pay off, the current riff of |
| fears. (Eastern Academy of Management 10 | | | | mergers, acquisitions, layoffs and downsizings |
| 2006) In other words, rumors are more accurate | | | | would seem to indicate that that course of action |
| expressions of fear than facts. Developing a good | | | | is just too risky for both your career and your |
| intelligence system that can separate fact from | | | | health. Decide what you want, inventory your |
| fiction is critical. The best way to vet an | | | | assets, gather the intelligence you need to make |
| intelligence source is to verify information through | | | | good strategic decisions and build a thriving |
| a variety of avenues. Developing good information | | | | business coalition to support your dreams. You |
| sources provides useful communication that | | | | are the one in control of your own professional |
| works both internally, regarding the organization, | | | | journey. |