How to Thrive in Your Career Even During Budget Cuts

Budget cuts. The thought of it makes employers and employees alike shudder. Budget cuts in an organization can mean a variety of changes for both the company and staff… especially when it leads to layoffs.

Let’s be honest—nobody likes budget cuts, and with analysts predicting another recession (or God-forbid another Great Depression), now is the time to up your game and value to the company.?

Believe it or not, it’s possible to thrive when others are barely surviving and secure your employment while everyone else is getting let go. It’s not solely about your ability to do your job; it’s also about the value you bring.

“When you live your life in alignment with a purpose that is centered on selflessly adding value for others, opportunities become abundant and your life becomes fulfilled.” —Hal Elrod

Despite the current economy, many people will manage to keep their jobs and rise through the ranks—and even get raises beyond their wildest imagination.

Here’s the secret.

Here's the secret: You don't get paid for the work that you do. You get paid for accountability, for trust. In other words, you get paid according to the level that your boss is able to rely on and count on you.?

Of course, you’re doing the work. That’s a given. If someone were to ask you, “What’s your job?” you’d most likely answer with the practical...I take care of ABC. It’s time to reframe the way you think of your position.?

Your job isn’t simply about fulfilling a job description. If someone asks you what you do for a living, your answer should be, “I help take the workload off my boss.”?

Your goal isn’t to get the job done. Yes, it’s a part of it…but your goal needs to be freeing up your boss's time, so you’re busy with things that are worth more money. I will warn you, it takes humility to do this as it often means taking on work that others don’t want to do in the beginning. It means allowing someone else to get the credit and trusting the process for promotion. It may even require patience, but it will pay off in the end.?

How do I know? Because as a business owner, I know firsthand and from my managers. Think about this: If your boss is relying on you, then you can be sure that your name is not on the list when it comes time for layoffs (for whatever reason).?

"Leadership is not about executive position or title. It is about connection and influence. At its highest, leadership is all about adding value to the world and blessing lives through the work you do." —Robin Sharma

The added bonus…

There’s another bright side to doing everything you can to add value to the company by being available to help your boss—raises and promotions.??

Let’s say you’ve been striving to help your boss for a good amount of time. (Seriously, don’t try to do this after a week of being delegated with new tasks!) When you next go to your boss and say, “Hey, I need more money.”?

I’m not making any promises that they are going to give it to you; however, even in a recession, your chance of getting a raise would be favorable. Why? Because you’re not just doing your job. Part of your day is dedicated to assisting your boss. That makes you worth more per hour and a good investment.?

Everything to a business is either an investment or an expense. If I’m an employee and I look at myself from my company’s perspective, I need to understand I am replaceable... but at what cost? If my company is spending $30 an hour on me as an employee, what kind of yield am I bringing them with that time? $40? $100? How much would they have to pay someone else to do that work? Although some of your work may bring in $15 an hour, as long as other projects bring in $75 an hour, your average value to the company would be closer to $40 an hour. Asking for a raise shouldn’t be a guessing game—it’s math. If I want to make $100,000 a year, I need my value to surpass that number.?

The question is, am I a positive return on investment at my company, or am I simply an expense that’s about to price out??

And if I’m not bringing enough value to the table right now, how can I take more off of my director’s plate, so my value goes up? Forget the emotions, forget the living expenses—if you really want to get ahead and make great money, it comes down to thinking about whether you’re an investment or an expense from the company’s perspective.?

When recessions hit, people cut expenses… but they protect their investments. Even in times when unemployment is at its highest, it’s usually between 10-20%. That means 80% of people will still have jobs.

Resist the temptation to look down at the market. Don't get depressed. Change your attitude, and shift the way you think about your position. Instead of trying to get people to agree with you about how great your work is, let it be known to your boss that you’re willing to take on more responsibility to help them out.