In an uncertain and fast changing world, career risk is a very important factor to consider. One person’s attitude to risk is very different to another’s which is why self-awareness is essential with career strategy and planning.
“Life is inherently risky. There is only one big risk you should avoid at all costs, and that is the risk of doing nothing.” Denis Waitley.
Being clear about the risks you face in your career and having a plan A, B and C will help you cover all eventualities. I have been much more risk aware since marrying a lawyer as this is their job!
15 career risks
How likely are these to happen to you in the next 6-24 months?
1. Your boss leaves the company affecting your career progression
2. Your department or division is shut down
3. Your skills become obsolete
4. Your role can be replaced by technology
5. Funding or budget cuts occur
6. Your layer of management is removed
7. Your role is outsourced to save money
8. Your company goes into liquidation
9. Your employer is merged with another or acquired
10. The market for your product/service disappears with fast changing markets & disruption
11. Illness inhibits your ability to work
12. Your role is made redundant
13. Your work can be done cheaper by younger or foreign workers
14. Your performance is deemed to be unacceptable with the spotlight on productivity and you are ‘performance managed out’
15. There is a new CEO who creates many changes- ‘new broom’
What are your top 3 career risks and what is the likelihood of them happening?
What other career risks would you add to this list?
7 tips to mitigate risk
1. Create a career strategy and plan
2. Get a career coach
3. Invest in keeping your skills up to date
4. Keep an eye on fast changing trends & disruptive competitors
5. Do some career scenario planning; create plans A, B and C
6. Start developing a portfolio career – a future proof career option
7. Create a financial cushion to give yourself some breathing space
There is a trend away from employers taking responsibility for your career to the individual taking responsibility. This is a new concept for many as we do not get taught or trained in how to do career strategy and planning at school or university.
How can we help you?