Your career can span up to 50 years, which is a significant portion of your life. Yet many do not take the time to plan their career direction, let alone make a financial investment to have their resume professionally prepared or engage a career coach.
Now is the time to review where you are and set a path to where you want to be. Too many people are unhappy in their careers, but soldier on just because it seems daunting to make a change, execute a job search, or embark on a career transition.
Executive career coaching boasts a significant ROI (return on investment). Let alone the financial benefits, you will undoubtedly be happier and more content in your personal life if your career life is both engaging and challenging.
For example, the International Coach Federation found that coaching led to improved self-confidence, which is crucial for a successful career transition.
The dreaded pink slip
What if the transition was not your idea? Downsizing is a prevalent reality in both a recession and in good economic times. Corporations, not-for-profits, and other employers are constantly making changes to their staff complement.
As you’re negotiating your severance package, ensure it includes an outplacement – or career transition – package. Consider all the options available to you to engage the best outplacement firm.
Managing your finances in career transition
We all have financial commitments to make. There’s housing, transportation, food, travel, kids, pets, hobbies, just to name a few. But one crucial element often missing is money invested in your career management – during both good times and bad times.
Spent liberally, a severance package will tide you over for a set period of time. Unfortunately, many assume that a job search will be quick and that is not always the case.
To protect yourself and your family, be prudent with your expenditures and be deliberate in executing a job transition plan. Be wary of the industry “cowboys” who prey on downsized employees with false promises.
They will present a very professional and convincing business case to spend thousands of dollars on a package that reaps minimal rewards. CBC Marketplace exposed one of these recruitment rip-offs.
Do your due diligence before making an investment in your career transition or career advancement, just as you do in managing your other financial investments.
What’s most important is that you do invest in your career. It will be with you throughout your life, and can be a source of much fulfillment and happiness. Take care of your career, and it will take care of you.
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