It's been a scary, bumpy ride over the past year, with work forces decimated, lofty goals falling victim to market realities and continual demands to do more with fewer resources. What makes it all survivable is the increasing number of predictions that smoother sailing will be ahead as the economy brightens, creating new career opportunities. But will you be ready to take advantage of the trends? Reporter Wallace Immen asked a range of career experts a single question: What is the smartest thing you can do right now to enhance your career prospects for the coming year? Here's what they advise:
Ask and you may receive
Why: As prospects brighten this year, companies that froze salaries and scrapped bonuses last year are considering opening their purses, says Liz Wright, compensation practice leader for human resources consultancy Watson Wyatt in Toronto.
Its survey of 72 Canadian companies found that even the 26 per cent that froze wages in 2009 are now thinking about salary increases in 2010. "That may not translate into immediate payroll increases, but employers are going to be more open to employees who take initiative and can demonstrate they deserve more because their track record has helped in the recovery," Ms. Wright says.
Strategy: The poll found companies planning salary increases in a range of about 2.5 per cent to 2.8 per cent, so that is a target to shoot for when you ask for a raise, Ms. Wright suggests.
"This might also be a perfect opportunity to ask for bonuses for performance, and pay or perks for the extra workload many people are being asked to take on in organizations that have been downsized," she says.
That's because, as the economy begins to recover, employers will be doing their best to retain top talent who might leave for greener pastures, Ms. Wright says. Employers are nervously looking at evidence such as a recent poll Watson Wyatt did of U.S. employers that showed a 23-per-cent drop in employee engagement among high-performing employees from a year ago, she says. "Half of those who said their satisfaction had dropped also said they would jump ship if the economy improves."
Become the expert
Why: Anxious workers are scrambling to demonstrate their versatility, hoping that being able to work in a number of areas will help spare them in job cuts. Wrong thinking, says career coach Sharon Graham, president Graham Management Group in Toronto. "They forget that the more things they try to juggle, the more they dilute their strengths," she says. "Why try to be a generalist when it means you will end up competing with a lot of other generalists?"
Strategy: Cultivate your expertise in a unique skill that can't be easily outsourced as companies continue to look for ways to pare their payrolls. Take additional training, get an advanced certification and be able to use technology that no one else is able to use effectively.
In your networking, rather than join multiple associations and networking sites, focus on groups that discuss specific topics related to your area of expertise. "This will enable you to actively participate and make a name for yourself as an expert at what you do, which will have you in demand no matter how the job market performs," Ms. Graham says.
Groom a successor
Why: As companies come out of the recession and start to expand, they will be looking to promote from within, out of necessity and to retain their best talent, says career coach Paul Copcutt, principal of Square Peg Solution in Hamilton. But if you want to be in line for a promotion, you'd better have someone at the ready to take over your old job.
Strategy: "If you have been able to identify and mentor a replacement, your boss will feel a lot better about promoting you," Mr. Copcutt says.
