New Ways to Work Your Way Through the Downturn

The turbulent state of today’s job market is forcing employers and everyone in the labor market to consider alternative ways of attracting, contracting and hiring talent. Many employers have scaled back or ceased their hiring efforts for all but the most essential roles. That’s leaving many workers, contractors and small business owners out in the cold.

Many workers are finding themselves out of work unexpectedly and for longer periods. Small business owners and independent contractors are scrambling to find new business as existing clients pay more slowly, decrease order quantities and reduce frequency of services.

Two of my coaching clients have recently been laid off from jobs they’ve held for several years. Not surprisingly, they are still dealing with states of shock. But, they are both, happily, trying to find new jobs and new ways to replace their salaries once their severance packages are depleted. We discussed several options that I want to share with you.

As you know by now, I think it’s important to understand your options, especially at points in your life when you fear that you have none. Luckily for all of us, there are plenty of labor market options for talented folks, especially those with open minds.

6 NEW WAYS TO WORK YOUR WAY THROUGH THE DOWNTURN

Interim executive and management positions - Many companies are looking to interim staffing agencies to fill key management roles when existing employees go on vacation or leave, or to take on the extra workload when organizations are involved in projects, acquisitions or other organizational changes. Also a great way to test out new jobs at new companies.
Temporary positions - The old school temp staffing model involved you taking on work well below your skill level and your earnings expectations just to get by; the new temp staffing model involves you approaching a temp agency that specializes in placing people with your unique skill set and getting paid handsomely for your skills (you also get benefits!.
Job-Sharing - If you and your closest, most talented co-worker are facing possible lay-off, consider asking your boss to allow you to share a single position. The two of you would have half the work (and half the pay), but you’d still be employed and paid, at least long enough to secure new employment. Find a job-sharing partner.
Individual employer - employee negotiations - If you work for an employer that is forced to lay off staff in order to survive, they may be more willing than others to entertain unorthodox proposals such as you working fewer hours and/or accepting less pay for a defined period of time (just long enough to weather the downturn). Don’t start at half your pay; start at 80%-85%. A 15%-20% discount will certainly get their attention.
Part-time jobs - It’s hard to give up full-time work, especially if your job afforded you health care and other benefits. But, if you’re laid off, consider taking a part-time to recoup at least a percentage of the pay you’ve lost, to keep building skills and to stay active (Ironically, employers prefer to hire people who are already working for someone else).
Seasonal work and odd jobs - It’s tax season, so consider taking an online tax prep course and working part-time for a tax preparer or as an independent tax preparer. If numbers are not your thing, consider taking on odd jobs that allow you to use your talents and interests (A decent severance package can actually free you, at least for a while, to pursue a dream job that you’ve previously been afraid to pursue because of low pay.

A couple of weeks ago at the Careersthatdontsuck Career Changers’ Group February meeting, I presented “What Now?”, a presentation on the job and business opportunities still available in spite of the economic downturn. The purpose of the presentation was to provide members with a roadmap of their options now that many of them have been negatively impacted by the downturn. Well, each week since, economic news continues to worsen–prices soaring, sales plummeting, stocks diving and jobs disappearing. Download the presentation.