As the oil market continues to face challenges and many economists are watching out for a real estate bubble burst in the country’s largest markets, the Canadian economy is facing a lot of uncertainty in the future. The dollar is down, Brexit has cast uncertainty over European trading, and political tensions continue to build in Eastern Europe – meanwhile, companies are finding ever-innovative ways to keep their payroll costs down. So how are you supposed to find job security in an uncertain finance industry as a grad, veteran, small business professional, or corporate ladder-climber? The answer is the same for individuals in all positions: stay versatile, stay open, and never stop looking.
If you’re feeling anxious about your employment position, finance industry recruiters from the Toronto firm IQ Partners put together this list of signs to look out for. The key to success in this competitive industry is to never feel comfortable and always be on the lookout for the next great opportunity.
Signs to Watch
#1 Chatter About Layoffs – If layoffs are in the rumour mill, the employees don’t have confidence in their own organization. Whether or not the rumours are true, there’s a source for their lack of confidence, and that should be reason enough to start searching elsewhere.
#2 Poor Review – Especially if it comes as a surprise, a poor employee review is a sign that, perhaps through no fault of your own, you’re not a great fit for the organization anymore. That doesn’t mean that you aren’t a star in your field, it just means that now may be the time to reach out to a recruiter. People seek out lateral hires for any number of reasons, whether it’s for a pay bump or a culture change, but whatever the reason, you may want to talk to IQ Partners finance recruiters in Toronto to move your finance career along.
#3 Job Responsibilities Disappear – It’s never a good sign if you start falling off of lists of invitees for important meetings or you start to lose responsibilities, as it could be a sign that the company is already preparing to replace you.
It’s not part of anyone’s plan to get laid off, but even great employees wind up in a slump from time to time – it’s just part of doing business. But if you want to avoid it, or at the very least mitigate the chaos it can cause in your life, it’s best to see it coming and prepare for a new career option.
Make Your Own Job Security
When the industry is facing cutbacks, you need to make yourself irreplaceable to the organization – job security isn’t a right these days, it’s something you need to earn.
#1 Network – The best piece of advice offered by IQ Partners finance recruiters is to network, network, and network, in your organization at all levels but also across your industry. Attend networking events, don’t miss company events, and always have your ear to the ground.
#2 Get in Your Boss’s Good Books – Nobody likes a suck-up, and being one can hurt you in the eyes of your colleagues, or even in your manager’s eyes. However, it never hurts to get along with your boss on both personal and professional levels.
#3 Find Your Niche – Become the expert in something, even better if it’s a frequently neglected part of the work you do in the office.
#4 Never Stop Looking – Always keep an eye out for new opportunities elsewhere so you can rebound in no time after getting laid off. Keep a recruiter on your speed dial and always be prepared to follow a better opportunity.
