The World Bank is forecasting a decline in market growth during 2012, add the threat of another recession and the future looks grim. This dire outlook is compounded by the ongoing downturn in the UK retail sector, with household names such as: Peacocks; Habitat; Focus DIY; TJ Hughes; Past Times and La Senza being killed off quicker than an extra in a War Horse battle scene, with thousands of jobs being lost.
However, Richard Maun, one of the UK’s leading Modern Career writers, business coach and visiting fellow at top UK university suggests that employees can at least take back some control in improving their own job prospects as explained in his book ‘How to Keep Your Job’ and outlined below.
‘Times are tough. Unemployment is rising. Companies are looking to cut costs. We all need to make sure that we return the maximum value to the people who pay our wages, and yet in my experience people rarely give it a second thought; until it’s too late.
We all exist in an economic environment and every day we turn up for work we need to remind ourselves that we’re being paid for our labour and it costs a lot more to keep us than people realise. Take your salary and add 50% to it and then multiply that by 5 and that’s the costs of keeping you for 5 years, which is becoming the longest people tend to stay with one employer these days. For example, if you earn £40k a year that multiplies out to £60k total annual costs and £300,000 over a 5 year period, so no wonder that organisations like to cut people to cut costs; the savings are immediate and immense.
There are five ways to make sure you are seen to be adding real value:
- Account for your contribution: Instead of saying ‘the team delivered’ change your words to ‘I lead the team so they could deliver’. Make sure you are properly credited with successes.
- Value your contribution: On your CV does it say that ‘I improved productivity’ or does it say that ‘I improved productivity by saving 300 hours per year of wasted processing time, that reduced the overtime bill by £100,000’? Use numbers to add value.
- Tell people: Too many people hide behind modesty, which is a poor strategy when people are deciding your future. Ensure your hard work gets noticed.
- Be proud: It is perfectly okay to work hard and then celebrate the results.
- Managing Directors love money. Everything you do can be linked to a financial benefit for your organisation, even if you work in a back office. Always look at 12-month savings, because your salary is always talked about as an annual cost.’
Despite the economic crisis in the U.S., Japan and Europe having worldwide ramifications, ‘How to Keep Your Job’ could potentially provide the skills and confidence to survive in the workplace.
'How to Keep Your Job' by Richard Maun
Published by Marshall Cavendish Business.
Available from business-bookshop.co.uk
Keith Appleton - Board Member, Manager, Magistrate, Business Writer & Visiting Lecturer who is here to help, advise and guide.
