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Job Security in Recession and Getting Ahead In Any Market – Part I
By Pat O'Donnell
© April 28, 2008, all rights reserved.
Jobs to Target
As a recruiter, I am not actually seeing any evidence of a Recession although that may change. I am seeing a mixed market, but that has been true since 9/11/01. The most obvious exception is the Financial companies which have been disproportionately affected by the mortgage market defaults. Whether or not we evolve in to a Recession, many of the strategies that protect you in a bad market also will help you get ahead and be more promotable than your co-workers in any market.
These are the more secure roles and companies to target if possible:
- The companies and product groups which cannot afford NOT to innovate continuously or they risk falling behind their competitors. Examples are medical device companies in highly competitive sectors (e.g.,pacemaker companies) or companies with computerized technology or internet services (.com) offerings.
- The Products and Projects which are more visible in a company and are the largest revenue generators, flagship products (most well-known brand names), and new Products which will improve the company’s share of market or open a major new source of revenue as assuming the project has adequate funds available for investment.
- Avoid projects which are nice-to-have but not mission critical. For instance, upgrading software for the back office accounting department is probably not critical unless there are new guidelines like Sarbannes Oxley. Upgrading Customer Service is probably not mission-critical to a company in tough times unless they have had a massive customer problem with product safety or efficacy.
- Seek roles that are in revenue generating departments such as Product Manager. If you are a Marketing Communications professional, focus on service companies versus industrial companies. Marcomm is more critical to a service company. In an industrial environment where there are not elaborate solutions offerings, Marcomm is a cost or support department.
- Seek roles visible to the outside world such as the Manager of Investor Relations, or FDA compliance. This would not be a good time to seek Employee Relations or Team Building roles which are far more likely to be considered a luxury in a business downturn. On the other hand, if Employee Relations is your #1 fantasy, seek the companies where it is more important. A retailer, for instance, has lots of employee turnover, high absenteeism and low employee engagement levels. In that environment Employee Relations is relatively more important.
- Industrial companies adding services/solutions offerings. Many industrial companies are seeing margins fall because of cheaper goods likes sensors being made in Asia. To compensate these companies are adding value and revenue by adding services like remote monitoring of equipment so a customer has less risk of down-time for repairs.
- Companies with “brochureware” websites are adding CRM (Customer Relationship Management) layers. For instance, you may receive an email that offers white paper for free if and only if you fill out 10 points of information that enables a salesperson to call you with some prior knowledge of your business needs. There is a huge move to have integrated media layers (promotions, loyalty efforts, etc.) point the customer back to the website and to interact with it as part of the sales process.
- If you are a web programmer, learn SilverLight which will enable TV-like Rich Media ads on the internet starting this fall, compliments of Microsoft. The growth of such ads will be explosive. These ads will be targeted to your personal internet habits just like ad banners are now.
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