5 Tips For Job Protection

5 Tips For Job Protection

This current job environment is a whole new ballgame for us of the Generation Y grouping. No more storming out of poorly paying jobs or figuring the job would be waiting for us when we felt like returning; this is a time of holding onto what we have and not rocking the boat too much. It’s been a steep learning curve, but Nicola Pederson-McKinnon with the Sydney Morning Herald has some good tips on how protect your income and employment in tough economic times.

 

Be Cooperative

I feel conflicted, because bad working conditions should never be allowed, no matter the current state of the economy. I’ve seen too many examples of people putting up with outrageous situations because they’re concerned about losing their job. So while it’s a great idea to become an indispensable part of the team, I’m not suggesting that rocking the boat is out of bounds either. Indispensable doesn’t mean undermining your co-workers. Rather, it’s about working on your particular set of skills and ensuring that they complement and enhance the final effort. Don’t be too modest about it either. If you’ve done something great, it doesn’t hurt to keep a record.

Look To The Future

Sure, we all hope our businesses will never fail. But some of them will, so looking ahead is a good safeguard. If you’ve got serious concerns about the safety of your employer, you could look at what other options in the industry are available. Tough economic times are always a good point to invest money as well, primarily in upskilling or getting the next impressive piece of paper.

Career Change?

The market is moving swiftly and, luckily for Generation Y, we’re adept at changing from job to job and career to career. As the job markets change, some tried and true industries might be hiring less, while new industries will be desperately short of skilled workers. Following on from further education and skill development, you could look at new opportunities opening up. Pedersen-McKinnon suggests biotechnology, online education and health will be booming industries, with resources, agriculture and tourism still affected by a skills shortage.

Moving On

Along with the possibility of more than one career is the possibility of a new home. While youth unemployment is rampant in Australia, there are plenty of jobs in less-populated areas. So if you’re looking at jumping ship, why not think about moving somewhere new for a while and saving some money that way? Certainly if you’re working in resources, it can be a financially savvy move.

Protect Yourself

Never more has an emergency fund been a crucial piece of your armour. It allows you to take opportunities, make tough decisions and have some breathing space should you need to change jobs. Pedersen-McKinnon also suggests investigating the value of income protection insurance.