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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]
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22 March 2005 Copyright 2005 Atul Mathur 2
Take Away
How to get rid of job insecurity –FOR EVER?
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22 March 2005 Copyright 2005 Atul Mathur 3
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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22 March 2005 Copyright 2005 Atul Mathur 4
Why we crave for security?
Maslow’s Hierarchy of Needs
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22 March 2005 Copyright 2005 Atul Mathur 5
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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22 March 2005 Copyright 2005 Atul Mathur 6
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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22 March 2005 Copyright 2005 Atul Mathur 7
Why are jobs not secure?
Because organisations are not secure!
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22 March 2005 Copyright 2005 Atul Mathur 8
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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22 March 2005 Copyright 2005 Atul Mathur 9
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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22 March 2005 Copyright 2005 Atul Mathur 10
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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22 March 2005 Copyright 2005 Atul Mathur 11
So, what should we do?
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22 March 2005 Copyright 2005 Atul Mathur 12
Act to dismantle two fears
Losing the present jobNot getting an alternative job Job Insecurity
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22 March 2005 Copyright 2005 Atul Mathur 13
Two-Track Approach
Job insecurity Work Security
Work to create other options
Consolidate your position in present job
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22 March 2005 Copyright 2005 Atul Mathur 14
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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22 March 2005 Copyright 2005 Atul Mathur 15
Avoid: Doing minimum or expected
Deliver MORE! than expected to stand out from the crowd
Deliver More!
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22 March 2005 Copyright 2005 Atul Mathur 16
Avoid: Working selfishly!
Always support your team members and work towards team goals
Be a Great Team Player
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22 March 2005 Copyright 2005 Atul Mathur 17
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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22 March 2005 Copyright 2005 Atul Mathur 18
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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22 March 2005 Copyright 2005 Atul Mathur 19
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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22 March 2005 Copyright 2005 Atul Mathur 20
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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22 March 2005 Copyright 2005 Atul Mathur 21
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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22 March 2005 Copyright 2005 Atul Mathur 22
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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22 March 2005 Copyright 2005 Atul Mathur 23
Avoid this Pitfall
Age
Knowledge and Skills
Time
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22 March 2005 Copyright 2005 Atul Mathur 24
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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22 March 2005 Copyright 2005 Atul Mathur 25
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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22 March 2005 Copyright 2005 Atul Mathur 26
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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22 March 2005 Copyright 2005 Atul Mathur 27
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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22 March 2005 Copyright 2005 Atul Mathur 28
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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22 March 2005 Copyright 2005 Atul Mathur 29
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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22 March 2005 Copyright 2005 Atul Mathur 30
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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22 March 2005 Copyright 2005 Atul Mathur 31
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]