Scared of Unemployment during COVID Recession?

Millions may lose their jobs during this economic downturn, but those who know how to strategically add value with career building skills can expect a raise

These are hard times for everyone – except people who have managed their opportunities in alignment with their greatest strengths. The more challenging it is for others, the more they seem to succeed. Why do opportunities continually flow toward them, passing you in the process?

·      What do the most successful know that you don’t know?

Most likely nothing. They are not smarter than you, but they are more strategic. They know how to leverage professional growth in such a way to position for greater worth to the marketplace. If this concept is new to you, consider there is a dollar sign that invisibly floats above your head. It says to employers what you are worth. For some, it only shows an unskilled number that reflects minimum wage opportunities at entry level positions. For others, it shows a six-figure number of proven corporate leadership. Here is the catch – everyone has that invisible number – but only a few have done anything to make it bigger.

A friend asked me why she did not get a promotion during her annual review. She thought the employer was biased against her status as an older female worker. I told her it was something else entirely. The employer was not against her age or gender; rather the employer was against paying more simply because of more years at the same job. Your salary is not based on what you think you are worth - your salary is based on what the marketplace things you are worth. In a few minutes we discussed how to move from feeling disappointed and resentful after the review, to leveraging the feelings to make herself more valuable.

How to change your invisible marketplace number is in your control – not your employers. The fastest way to ramp up the value is in building your professional skills. As you boost your career with personal development and then post to your LinkedIn profile your marketplace value and confidence goes up during a time when others are in fear of their career options sliding down.

Improving your skills is a choice. Instead of waiting on someone to notice your gifting, you take action to grow. You begin to practice what author Seth Godin calls, “Pick Yourself”.

Listen as he explains,

“What pick yourself means is that it has never been easier to decide to be responsible for your own work, for your own agenda, for the change you make in the world. To have a chance to matter. Not to be finished right now but starting now. Pick yourself means we should stop waiting and whining and stalling. The outcome is still in doubt, but it’s clear that waiting just doesn’t pay.”

There are the skills you can pick to increase your salary and value to employers. If you want to bring home more money and build the respect that comes from greater professional influence, mentally answer these questions,

"Which accomplishments would our competitors be impressed by?

What have I done to be the most skilled in this company?”

Here are the top twenty-three strategies to boost your income as the logical consequence from strategically building your career. Score your value by asking if you have -

1.    Gained advanced education?

2.    Gained specialized industry certification?

3.    Attended industry events to strengthen skill set?

4.    Hired a coach to leverage gifting and maximize potential?

5.    Stepped into community leadership roles?

6.    Involved in trade or industry associations as a volunteer or committee member?

7.    Involved in trade or industry associations as a trainer or panel member?

8.    Asked to speak for local organizations as a recognized expert?

9.    Mentored younger leaders inside the industry, or another industry?

10. Quoted by other media, or OTT media?

11. Become recognized by YouTube, LinkedIn, or another social media as an influencer?

12. Creating content on a personal blog, podcast, webcast, or YouTube channel?

13. Given a TEDx or Pecha Kucha presentation to show industry knowledge?

14. Written or co-authored a book to share your expertise?

15. Written or co-authored an article in a national publication?

16. Editor on Wikipedia or other web-based industry platforms?

17. Quoted as an ‘expert’ by podcasters, webcasters, local or national media?

18. Created or deepened income streams for the organization?

19. Created strategic partnerships for the organization?

20. Created strong brand awareness for the organization?

21. Bilingual? Trilingual?

22. Years of industry experience as a trusted team member or team leader?

23. Finally, are you well established or well networked with strategic leaders across the 7 streams of influence? (Education, Government, Media, Religion, Business, Arts or Family groups?)

Good news, the more of these factors you have built into your career and posted on LinkedIn, the more the marketplace will pay because you actively created value.

When you pick you others will see your confidence and pick you too. However, if you have not done anything to create greater value, don't expect a raise. During times of recession companies assess their employees from most to least valuable and if you are not viewed as highly skilled, you can expect to be let go.

Make sense? Good – then get started! You can have great ideas that go nowhere if you do not practice what Mark Victor Hanson learned after more than a hundred publishers refused to publish Chicken Soup for the Soul? He said,

“Don’t wait until everything is just right. It will never be perfect. There will always be challenges, obstacles and less than perfect conditions. So what! Get started now. With each step you take, you will grow stronger and stronger, more and more skilled, more and more self-confident and more and more successful.”

Strategic change principle –

When you add more value – the marketplace rewards you with more value to share.

About the Author: Dwight Bain is a certified leadership coach who guides people through major change. Follow him on social media @DwightBain