Engineering Your Own Career

LEE ARTIMOVICH

Office Managing Director, Sr. Client Partner

Korn/Ferry International

Lee.Artimovich@kornferry.com

kornferry.com

Topic: Leadership

In February 2009, President Obama signed into law the much debated $787 billion economic stimulus bill, a plan designed with a primary focus on countering recent, unprecedented job losses.

Let's face reality. Executives who need jobs today cannot wait for government stimulus to right the economy. Today's economy presents job seekers with unrivaled challenges, uncertainty and the expectation of prolonged periods of unemployment. Fewer than a third (29 percent) of executives who participated in a recent Korn/Ferry survey indicated that they had ever required more than three months to find a new career opportunity in the past.

However, the tough economic realities and significant job losses have altered expectations moving forward. Eighty-three percent of respondents predict that today's out-of-work executives will be hunting for more than four months for their next opportunity. And 43 percent believe the process will take seven months or longer.

In a "buyer's market" for employers such as this one, it is truly up to you to engineer your own career advancement. Jobs, while scarce, are out there -- but differentiating yourself from others on the market will be more challenging than ever.

Some non-traditional strategies we recommend include:

1. Be open to interim positions or consulting projects to draw an income, keep skills fresh and position yourself for prime roles once regular hiring levels return. So-called independent workers now comprise more than 30 percent of the American workforce, according to the U.S. Government Accountability Office, demonstrating an increased willingness on the part of employers and professionals to consider unconventional working arrangements. With many companies unable to hire full-time employees, highly seasoned project or temporary professional workers are an appealing alternative.

2. Consider posts that are a pay grade or title below your current or most recent position, to exceed expectations and possibly turn the "downgrade" into a dream job down the line. This is a particularly relevant strategy at organizations with reputations for promoting from within. By consistently over-performing and demonstrating your value to the company, you will ensure that you are at the top of its shortlist when more prestigious opportunities become available.

3. Be willing to relocate -- domestically or even internationally -- for opportunities that might ultimately keep you on the cutting edge of your field. While demand for talent will certainly rebound worldwide over time, job creation for top executives may be more robust in emerging economies such as Brazil, Russia, India and China in the near term. In the executive ranks, lengthy job searches are not confined to poor economies.

It takes time to find the right cultural and functional fit for each position and each candidate. We counsel both our clients and candidates to be patient in the search process, and the current economic environment only reinforces that need.

2010-03-18 10:15:27 -0500