In the not-too-distant past, ascending the corporate ladder assured management professionals of a bigger office, a stronger compensation package and a more secure future. But today, executives are being told: Don’t get too comfortable in that corner office, and don’t buy that fancy new car or boat you’ve always dreamed of – because your job is just as vulnerable as everyone else’s. Evidence suggests that the higher up the ladder you go, the more precarious your position may become! The attitude toward executives and the roles they play within companies have drastically changed in recent years. I’ve seen executives who have been with the same company for 20 or more years. They’ve worked their way up the corporate ladder and felt that they had proven their value – then they were unceremoniously dismissed from their positions as if they had just been hired as an entry-level worker. As a Career Consultant, it’s my job to re-instill the client’s confidence, identify his or her strengths, and “re-package” that individual for the current job market. But, to navigate effectively through the career transition process and ultimately make your career bulletproof, you must first be informed about what’s really going on in the work-world. I see several important trends taking place with regard to executive-level job stability and security, including:
TODAY’S CHALLENGING EMPLOYMENT TRENDS
Job Market Trend 1:
More and more positions, even at senior levels, are now being offered on a contract or temporary basis. The position, in these cases, lasts only as long as is needed to fulfill the employer’s contract with their client. This requires job seekers to think differently – more like an independent consultant who works on assignment – rather than as a permanent employee. In many business sectors and industries, it could be said that the “permanent, full-time job” no longer exists as we knew it. This trend also puts the responsibility on the part of the executive to consistently promote and market himself or herself for the next opportunity – and the one after that!
Job Market Trend 2:
Companies are still very cautious and careful about making any hiring decisions of high-paying, senior management positions. Executives seeking such jobs must now “sell themselves” more than in the past. They need to demonstrate just how they will enhance the company’s productivity, efficiency and profitability – or they probably won’t get the offer. This means that the job seeker really needs to learn how to effectively present and market himself or herself. Just having the right job titles on one’s r