22 March 2005Copyright 2005 Atul Mathur1 Enjoying Job Security By Atul Mathur Web site (click here): E-mail (click.

22 March 2005 Copyright 2005 Atul Mathur 1

Enjoying Job Security

ByAtul Mathur

Web site (click here): www.atulmathur.comE-mail (click here): [email protected]

22 March 2005 Copyright 2005 Atul Mathur 2

Take Away

How to get rid of job insecurity –FOR EVER?

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Two Tales

Me

• Changed jobs 4 times in 12 years

• Survived three retrenchment exercises

• Experienced pay cuts• Spent more time worrying

about job than looking after family

My father

• Same job for 30 years• Never worried about economy,

job loss or pay cut • Married, raised 2 kids

(educated and married), built a house

• Retired, now getting pension

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Why we crave for security?

Maslow’s Hierarchy of Needs

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Job Security: Very Important!

Survey (International Social Survey Programme, 1989)*

• Workers in 9 OECD countries surveyed

• Asked to rate 9 different aspects of a job: security, income, promotion opportunities, leisure time, interest, independent work, being able to help others, being useful to society and flexible working hours

• A five point scale was used from overall “very important” to “not at all important”

Result

• 59% said job insecurity was very important compared with avg. 27 percent for the other eight attributes

*OECD Employment Outlook 1997 - Low-wage jobs: stepping stones to a better future or traps?

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International Phenomenon

• Insecurity levels*– US: 8 percent (2000) – Britain: 12 percent (2002)– Germany: 10 percent (late 1990s)

• In US, people are negotiating termination clauses at the time of accepting appointment letters

*Paper by Francis Green (Oct. 2003)

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Why are jobs not secure?

Because organisations are not secure!

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Why aren’t organisations secure?

• Increased competition (survival of the fittest!)

• Fast technological changes

• Unexpected developments (oil, diseases, natural disasters, terrorism)

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How organisations survive?

Retrenchments/hiring, closure/introduction of new product lines/services, outsourcing, mergers and acquisitions, relocation of factories and offices,

salary adjustments, adoption of new technologies…

End Result?Jobs cannot be guaranteed any more!

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Impact of Job Insecurity

Personal level• Physical well-being• Stress• Family and other relationships

Organisational level• Work efficiency• Relationship between employee and employer• Training needs…often sidelined

Country level• Macroeconomic impact

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So, what should we do?

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Act to dismantle two fears

Losing the present jobNot getting an alternative job Job Insecurity

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Two-Track Approach

Job insecurity Work Security

Work to create other options

Consolidate your position in present job

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Avoid: Busy without RESULTS

Produce tangible results for your organisation

Effort is admirable. Achievement is valuable. - Morton C. Blackwell (1939– )

US political educator, founder-president: Leadership Institute

Focus on Results

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Avoid: Doing minimum or expected

Deliver MORE! than expected to stand out from the crowd

Deliver More!

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Avoid: Working selfishly!

Always support your team members and work towards team goals

Be a Great Team Player

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Avoid: Ignoring the power of relationships

Every person you work with can be instrumental in helping you retain your

present job or get a new one. Have strong bonds with everyone!

Cultivate Relationships--Internally

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Avoid: “Wait and see” approach or voicing opposition to mergers & acquisitions and restructuring

Be proactive! Meet new bosses sooner than later. Show your value. Offer to help during transition.

M & A / Restructuring: Be Proactive

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Avoid: Not knowing where the ship is heading to

Closely follow: • Department’s and organisation’s performance• Competitors• Industry trends• Economy (national, regional and world)

Study Your Environment

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Avoid: Thinking that you are what you write in your resume. Biggest pitfall!

Find your: Skills, Knowledge, Strengths, Personality, Values, Interests

Know Yourself

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Recommended Resources

• The Secret of Finding The Right Career DirectionBy: Atul Mathur[US$9.9 from (click here): www.atulmathur.com/ebook.html]

• What Color is Your Parachute?By: Richard N. Bolles(Libraries/US$27.95…2005 edition/hardcover)

• Other books

Do a personal inventoryKnowing yourself is a big leap towards SECURITY!

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Avoid: Ignoring/mistreating customers and vendors

Make good, professional impression on everyone. Attend exhibitions, join industry

associations, write in trade journals.

External contacts: The key to a new job!

Cultivate External Contacts

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Avoid this Pitfall

Age

Knowledge and Skills

Time

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Learn Continuously

Avoid: Thinking that learning and working are two separate phases of life. That was past!

Learn continuously! On the job learning. Learn from others. Go for courses/seminars. Read.

Write. Speak.Learning: The insurance against insecurity

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Sharpen Your Transferable Skills

Avoid: Thinking that you can’t change industries

Work to sharpen non job-specific skills: management, leadership, communication, research, human relations skills, problem

solving. Read about Transferable skills at (click here):

http://www.atulmathur.com/newsletters/issue6.html

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Don’t Forget other Options

Avoid: Thinking that job is the only way to make a living

Explore other options: Freelance work, temp./contract positions, telecommuting, home-

based businesses, full-fledged business

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Act on Your Ideas

Avoid: Thinking and thinking and thinking (I can do this; I can do that; maybe; maybe not…)

Act on your ideas. Make a small start but start!

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Psychological Triumph

Avoid: Worrying about job and imagining the worst

Always stay peaceful and motivated. Meditate. Read something inspiring everyday.

Write freely.

Read article How to Stay Peaceful and Motivated at (click here): www.atulmathur.com/articles/motivation.html

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Jobs will come and go but remember…

When one door closes another door opens; but we so often look so long and so regretfully

upon the closed door, that we do not see the ones which open for us.

- Alexander Graham Bell

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Make a Personal Commitment

I will treat job insecurity not as a threat to my survival but as an OPPORTUNITY to

my career revival.

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Thank You!

Job insecurity Work Security

Work to create other options

Consolidate position in present job

Web site (click here): www.atulmathur.comE-mail (click here): [email protected]