The economy is doing well, unemployment is low, inflation is down….no worries, right? Riiiiight.
In good times and bad, job security is often on our minds. If you are one of the estimated 78% of Americans living paycheck-to-paycheck, job security may be an obsession.
Unemployment insurance is a poor security blanket. In my home state of Indiana, unemployment pays 47% of your average wages from the past year, not to exceed $390 per week, for a maximum of 26 weeks. That is at most $9.75 an hour for 6 months. And bear in mind: if you are working, or consulting (as I am), that will reduce or eliminate your benefit. When a living wage here is $11.43 an hour for a single adult, you can see why people worry.
Should you be worried? No, but you should be aware. Better aware and prepared than blissfully blindsided. As my fifth-grade teacher Mr. Sudbury (Clear Creek Elementary School, circa 1976-77) used to say: “Be alert! The world needs more ‘Lerts’.”
In the spirit of raising awareness, I did a bit of searching about job security and found endless lists for signs that your job is in trouble. It seems ‘worry’ is a popular topic. Being a positive guy, though, I wanted to look for signs that your job is secure! Here, then, with my own special blend of sarcasm and cynicism, are my…
TOP FIVE SIGNS THAT YOUR JOB IS SECURE!
(and what you should do if these don’t describe you)
#1. Your Family Name is on the Company / Building / Door. (Graffiti doesn’t count!)
Assuming you have an established and stable business, being a member of the family is a reasonable sign of security. Conversely, if it is not your name on the company/building/door – particularly for SMB’s – you are almost certainly not in control.
Years ago, my boss was Cheryl Moke. We worked together for only a short time, but she made a big impression on me – though it may not have been obvious to her at the time. I believe it was after the death of a close friend (a musician who knew how to turn a phrase) that she mentioned one day “My name isn’t on the door – my kids won’t inherit this business.” Her body language told the story eloquently. Not terribly long after, she went to work for a much better boss: herself. That stuck with me.
It was also Cheryl who once told me “I saw an ad in the paper for my job today, and you know what? I DIDN’T WANT IT!” Cheers, Cheryl! Your honesty and fearlessness were inspiring, and I can assure you that you made the right choice, though I doubt you need me to tell you that.
#2. You Own At Least 50% of the Company.
Names on the building notwithstanding, if you own at least 50% of your company then you are at least not going to be fired by the people who do. Your customers might fire you, or another company may drive you out of business, or some other tragedy (preventable or otherwise) may befall you, but at least your job is secure, right?
The other side of the coin can get a bit ugly. Your name might be on the building, but if your ownership drops below 50%, security is out the window. Sure, the company may fall to pieces without you, but this list is not about Top Five Ways They’ll All Be Sorry When You’re Gone, is it? Maybe having your name on the building is not such a hot idea after all? Imagine passing your own business every day, knowing they fired you. Richard and Maurice McDonald found out the ugly way.
#3. You Can Blackmail the Boss.
No, really! I am completely serious! Fear is a powerful motivator, and your boss wants job security, too. Come on…admit it…you know former coworkers who were totally useless but still managed to stay employed. Blackmail! What else explains it?
Ok, so there are a few other explanations, and some are sadly just as true. Bear in mind: if you have information that is so powerful that it keeps you employed, I would argue you are probably working for the wrong person/company anyway. Fortunately I do not believe this is as common as people conspiratorially think. Instead, I believe there is a better explanation. To wit:
#4. You Perform Some Essential Task or Function that Perfectly Compliments your Boss’s Weakness.
I have known several people who I believe fit into this category. Heck, I have been this person. Maybe you do the dirty work that allows them to keep their reputation and hands clean (bubble list, anyone?). Maybe you possess some technical or specialized ability that covers responsibilities for which your boss is accountable. Maybe you just keep everybody else from bugging them. This is all perfectly normal and often necessary. In effect, you are the human (resources) shield.
Crucially, this does not mean that your boss is the wrong person for their job, or that you are not worth your wages. The higher up you go, the more you spend your time on the big picture, in meetings, and generally “leading.” Being second-in-command and making sure the details get done, if you do a good job of protecting your boss and your business, is a great position for people who want job security. Do your job WELL and do NOT antagonize your boss or others in the company, and you can probably sail along for a long time. Remember The Princess Bride? “Good night, Westley. Good work. Sleep well. I’ll most likely kill you in the morning.” The Dread Pirate Roberts knew a good second when he saw one.
By the way, that human shield thing? It works the other way as well – at least it should. If you have a strong second, treat them well and protect them. Show appreciation. They enable you to do your job. If you *are* the strong second, and assuming your boss is not a manipulative scumbag, your boss is likely already going to lengths to protect you and your job as well. Those who directly benefit from the work of others have the clearest view of the value – or at least the importance – of others’ jobs.
#5. The Company’s Customers are Really YOUR Customers.
I have several times seen people hired based primarily on their ability to bring along a profitable new account. I have also seen clients leave my company to follow an employee to another job/company.
In economics, having loyal clientele creates barriers to entry for a given marketplace. That concept applies to individuals as well as companies. It is potentially disastrous to dismiss an employee who has a strong following among decision makers at client companies. I once had a coworker whom a client’s top executive referred to in writing, rapturously, as “my angel.” You can bet that if she had gone to another company, the client would likely have followed.
What To Do If None of This Fits You
If you feel you are vulnerable, you are not alone! There is, in fact, no lasting and unassailable security in any job, from the top to the bottom. Some people have more layers of protection than others, but change is relentless and never-ending. Any job ever held by anyone was a result of change. Embrace it – you cannot avoid it.
So then, what to do? How can you at least increase your job security? My advice, if you are able, is to consistently do thusly:
- Focus your efforts on your circle of influence. No amount of worry will prevent calamity, but it may divert your attention away from what you can affect. Covey championed the difference between your larger outer circle of concern (i.e. “worry”) and your smaller inner circle of influence. Only influence responds to effort.
- Do good work. No matter your job, your boss, or your circumstance, focus and do your best, and try not to BMW (bitch, moan, and whine). This is always your best defense against unwanted change, and will increase your “luck” over those who fail to do so.
- Never stop learning. A mind in motion tends to stay in motion. Explore on your own, and to keep your options open: pursue personal value and growth, not simply corporate alignment. That is: if you focus your learning only on what you boss or company values, then you may find it has little value when you boss or company changes.
- Keep good records. Keep a personal account of your achievements, your successes, and even your spectacular failures, and use numbers. You will need hard numbers the next time you look for a job (by which time you will likely have forgotten the details), and in the meantime you will have proof of your value to your current employer. This applies whether you are counting square feet you mopped every night, or millions of dollars you’ve saved an employer. It all matters. Find something to measure, and measure it.
- Help others. If being helpful to others fails to save your job, it will at least win you friends and contacts who may come in handy later. Chances are, you will feel better about yourself in the process.
One parting thought: connect with current colleagues and business associates on LinkedIn and elsewhere, and keep building your network. After all, it’s not what you know, but who you know. No, actually that’s not it. It’s who you know who knows you know what you know…but that’s the subject of another post.
I am Steve Feaster and I help companies fill gaps, make transitions, and build enduring processes. Contact me at steve@stevefeaster.com. I’d love to help. In the meantime, connect with me on LinkedIn, and let me know when things change for you.