Oct. 21, 2008
Finding Work When You Fear Losing Your Job
Expert Offers Sage Advice To Those Concerned That Tough Times Will Hit Home, On The Early Show
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John Challenger on The Early Show Tuesday (CBS)
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Play CBS Video Video Lost Your Job, Now What? Mark Strassmann reports on the closing of an Ohio GM plant leaving employees unsure of their future. Maggie Rodriguez talks with CEO John Challenger about advice for those facing a job loss.
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Section Weathering The Downturn In this economy, it's smart to save. CBS News shows you how.
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Timeline Financial Meltdown Track major events that lead to one of the most tumultuous times in Wall Street's history.
If you fear being downsized, there are many strategies you can employ to navigate to a new job, according to John Challenger, CEO of the well-known outplacement firm, Challenger, Gray & Christmas.
On The Early Show Tuesday, he outlined several of them to co-anchor Maggie Rodriguez.
Among them:
Industries where the job picture is stable include:
Challenger offered this guidance:
You have a right, even when you're employed, to start looking and try to get a jump on it. Many people do look for jobs while they're working. You can post your resume anonymously on job boards online, you can start networking your field or industry on weekends, doing things such as meeting people for coffee or tea.
Sometimes, you can take advantage of tuition reimbursement that your company may offer, or you foot your own bill to go back to school to increase your skill set.
It's indeed a tight job market, because fewer jobs are being created and more people are looking for them. Some two-point-two million more people are unemployed now than a year ago. So, people need to be considering several ways to expand their search:
Look outside of your local area. If you live in a small town, be open to finding a job in a big city. A lot of people in small towns may have built up intolerance to living in a big city, but they may have to. That would give them more options. You have to do things that expand your potential.
Geography may not help much, though. There are not really any safe havens with this economic slowdown, driven by the credit crisis and energy crisis, because they are such fundamental forces in our country. Everybody is affected. One of the strongest areas has been the Southwest, because its energy sector has been so strong, and is likely to stay that way. Energy prices are coming down, but it looks like the demand for energy will have a longer-term effect that will outweigh the short-term effect of this economy slowdown.
Be open to changing industries and open to developing or enhancing skills in your field or developing new skills by retraining.
Look at companies of all sizes.
Fields where the jobs front is more promising include:
Healthcare: The strongest and most stable. You may choose to get skills in physical therapy or to go back to school to learn medical imaging technology, or to go back to school to learn new medical records technology. This is for people who are considering making a career change.
Education: There are teaching and teacher's assistant positions, and also business education or training and development jobs. There are companies in the private sector that have large demand for training and development, where they educate their people in the skills that the company requires. More companies are providing this.
Energy and Mining: People coming out of the automotive sector want to consider this. There is real demand in the energy and mining industry and in raw materials. There is a lot of demand, because of energy shortages, for alternative power. Some growth in coal and alternative energy and nuclear power is likely. So, energy shortages are leading to much more development and jobs in those areas. Mining is one of those areas that are growing because of the demand for raw materials.
As for one industry that's simply been reeling -- the financial sector:
If you are leaving a bank, maybe you can go to a smaller firm, hedge fund, or and private equity firm. Some people are going into allied areas, such as insurance, that require similar skills. And some are changing industries. About 40 percent of people do. If you were a relationship manager, you may go into sales, because your real field is not necessarily banking. It's maybe more in business development and relationship management and customer services. If you are in human resources in banking, where jobs are declining, you may want to go into a healthcare company. Most people do have the kind of skills that enable them to go from one industry to another.
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- jsklinemn ............... Uh, you are very much incorrect in saying that we do not have the right to look for a job while being employed. Everyone has the RIGHT to find employment as they see fit. Period. Your argument would logically suggest that all employers do NOT have the right to fire or lay anyone off. Your logic and values regarding employment loyalty and self reliance/protection are highly skewed.
- Reply to this comment
- Almost nothing works if you are, say just as an example, 50+ years old. Employment advice would be most useful if it were directed at age ranges. For example, what to do if you are 18-28, 29-39, 40-50, 51-61, 61-72, and so on. Whether anyone likes it or not, there is discrimination on just about anything and it is covert. So one needs to look at personal appearance from hygiene to clothing, what you drive, married with/without children. People interviewing you or having the final decison to hire you are just like you with likes/dislikes/prejudices. They also know how to avoid breaking discrimination laws.
Posted by longtree at 08:26 AM : Oct 21, 2008
Train in healthcare-all the recruiter will want to know is 1. Do you have an active license. 2. Are you breathing? - Reply to this comment
- Add this to your list if you are a fat cat CEO.
Collect Millions for golden parachute.
Laugh at regular suckers looking for jobs.
Realize you invested millions in stock market.
Stop laughing and start calling your buddys to ask for a job that involves lots of experience destroying fortune 500 companies with outlandish benefits. - Reply to this comment
- At-will employment means that neither you or the employer has any obligation to each other past today. It has nothing to do with whether or not you are searching for another job. If your company is in trouble, you should look, but be discreet. Also, I noticed that some advise going around HR or more accurately the recruiter. I don''t recommend it. HR and Recruiters are very different people. If you do come through the hiring manager for an interview, treat the recruiter with respect. Recruiters share a lot of information about candidates and in this market no one has the luxury of guessing who is in/not in someone''s network.
- Reply to this comment
- I''m sorry. You DO NOT HAVE A RIGHT to go look for a job while you are presently working one. If your current employer finds out that you are looking, he can legally let you go for any reason what so ever. Its called "At Will" and you can''t challenge it.
So; go ahead and look, but keep your head down and remember to request confidentiality when ever possible. If someone does call your present employer and you ultimately get canned, it''s because the prospect may have intentionally did this in order to low-ball you an offer and get you in at a cheaper rate. I''ve personally had that done to me.
Good luck hunters!! - Reply to this comment
- This articles reflection of the economy should highlight President Bush''s pet project, tax cuts for the rich. John McCain will continue Bush''s vision to make them permanent.
- Reply to this comment
- Almost nothing works if you are, say just as an example, 50+ years old. Employment advice would be most useful if it were directed at age ranges. For example, what to do if you are 18-28, 29-39, 40-50, 51-61, 61-72, and so on. Whether anyone likes it or not, there is discrimination on just about anything and it is covert. So one needs to look at personal appearance from hygiene to clothing, what you drive, married with/without children. People interviewing you or having the final decison to hire you are just like you with likes/dislikes/prejudices. They also know how to avoid breaking discrimination laws.
- Reply to this comment
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