Retrenchment is a new reality in the IT industry. This is part two of a two-part series from leadership solutions provider Cycan helping employers and employees deal with the issue.
It is a good idea for companies to help employees as far as possible when retrenchment becomes a reality. Some companies run outplacement programmes aimed at helping employees find new positions. Resident psychologists or career counsellors can be used with excellent results. A few corporations actually invest in skills training and development for retrenched employees.
These outplacement programmes should not only be considered in times of retrenchment, but also for the general well-being of the firm. Professional help is required to help assess what is available and in order to package marketability. It would also be a tremendous perk to offer employees and would serve to help with the "dead wood" syndrome and, over time, alleviate the need to retrench. If the company cannot offer any of these services, it may be wise to use some of the retrenchment package to put themselves through this healing process.
Unfortunately, it has become a fact of modern life that the older and more middle management you are, the greater the difficulties in finding new employment. While there may have been a sharp learning curve to get into a middle management position, there is likely to be a diminished rate of growth once this position has been achieved. This tends to be coupled with the fact that there are often less tangible results to show for your work, because middle management tends to function largely on a fire-fighting and reaction to circumstance basis.
From the employee`s point of view, it is important to retain focus in respect of insuring mobility and marketability, and to take positive steps to ensure that they continually increase their capacity to add value, staying abreast of trends and expanding education and knowledge, both formally and informally.
"Suddenly the extent of your own worth becomes blurred," explains Bryan Hattingh. "Often employees in this position panic, because they begin doubting their contribution to the organisation, and they find it difficult to establish their sense of purpose or importance."
It seems as though the days of employee loyalty are past, and employees now owe it to themselves and their future security to ensure they remain employable outside the company in which they find themselves.
Hattingh says: "They need to make a decision: do they hone the senior management skills required in the company to such an extent that they make themselves indispensable, or do they gain new skills that may not be required where they are, but would make them more marketable in the outside world?"
Cycan suggests the following course of action as an antidote against potential retrenchment:
* It is crucial to keep education and personal growth current to ensure marketability. This need not necessarily be strictly academic, but it is always a good idea to read widely in the field and to broaden your perspective.
* Keep abreast with activities, trends and developments in the marketplace. Establish the mistakes and shortcomings of business and people and ensure you learn from their lessons.
* Continually increase and refine your hard and soft skills through studying and reading widely and applying them at every opportunity.
* Remember there are many components to success. Constantly seek to stretch yourself and take managed and assessed risks. This will serve to sharpen your self-esteem and confidence levels.
* Work on your emotional intelligence. Familiarise yourself with the components of emotional intelligence and recognise its importance in today`s workplace. Continually expose yourself to ways of enhancing this valuable set of attributes.
* Concentrate on working well with people. See everyone you deal with, both inside and outside of your organisation, as customers and treat them according to the principle of "the customer is king".
* Be proactive. Take ownership of your career on an ongoing basis. Your skills, know-how, energy, ability to make decisions and to focus are your product. Continually assess this in relation to your market to determine whether the demand for your set of offerings is diminishing or increasing.
* Retrenchment may be the catalyst required to give you a new lease on life. It may be the determining factor that enables you to leapfrog your career.
"Turn the intangible within yourself into tangible measurable assets; review and measure yourself and your accomplishments every day; keep your perspective and your sense of accomplishment, and with the right, positive attitude, you may find this is not an end, but a new beginning," concludes Hattingh.
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