3 Reasons Not to Panic About Your Job

"We have nothing to fear but fear itself." - Franklin Delano Roosevelt

You've heard those words before but what does it really mean to your career? Why shouldn't you be panicking right now?

--1)For starters, panic never helped anyone think clearly or make rational decisions. If you're frantic over what's happening on Wall Street (and yes there are some serious economic challenges occurring) you may be putting your career at risk. Here's what I mean - when you start to operate from a place of panic and fear at work, you're more apt to second guess yourself, miss details and ultimately make more mistakes - the very things you want to avoid right now. So calm down. Take a walk, play a game with your kids, go see a movie and by all means, don't panic.

-2) Value is what creates opportunity. Now is the perfect time to examine the work you do and the value it provides. Who benefits from your efforts and how? Are there ways you can be of even more service to your clients, customers and your boss? Focus on what you can control - your own performance on the job.

-3)See the current turmoil as your chance to shine. It's the best captains who can navigate in rough seas. With all the economic challenges facing companies, governments, nonprofits, now is the perfect time for you to step up and really demonstrate the creative, innovative ideas you have that can help. Don't just sit back and let everyone else take care of it. Pitch in. Play your part in the best way you know how. It will demonstrate not only your abilities but your integrity as well.

If you are having trouble seeing the opportunities for yourself, register for my free one hour webinar next Tues, October 14th at 12pm eastern entitled "Getting on the Path to Career Happiness." You'll be able to define your personal career mission statement, vision statement and a practical career path to thrive not just survive today's economic challenges.

How are you doing? Are you panicking? Do you have reasons why panicking isn't a good idea? Share them. We are all in this together!

Time for Career Strategy as well as Financial Strategy

I responded to a recent question on LinkedIn.com - "What's your biggest concern with regards to the US Financial Market crisis?" I think it was aimed at people managing money on Wall Street but I felt the need to expand the focus. Here's my response:

"My biggest concern is that people react to the situation rather than proactively strategizing what it means to their careers. In every challenge there are opportunities especially if you are positioned to take advantage of them. We are witnessing a fundamental change in Wall Street that will impact Main Street. The sooner people focus their attention on planning their career strategy, the sooner they can implement those plans and stay ahead despite any adverse changes in the economy."

I'm not trying to scare anyone. I'm merely pointing out that reacting to change is not an effective career strategy. Knowledge truly is power.

Get in the know about the impact to your career:

--Assess the impact to your employer. Did your employer lose clients or revenue due to the Wall Street shake-up? If so, will cost reductions need to follow to keep the business profitable? What ideas might you offer up to save the company money and perhaps save jobs?
--Assess the impact to your industry. Is demand in your industry likely to grow even if people curb their spending? Are the products and services produced by the industry something people can't live without or are they more of a luxury? Consider making contacts in growing industries such as healthcare, green power, oil and gas. Use your university alumni network to do informational interviews and understand how your skills can transfer.
--Assess your performance and contribution. Are you known by your manager as a top performer? Do clients love working with you? There's always room for the best of the best. Are you a revenue generator for the company? If not, what might you do to adjust your job to bring in revenue so you're not viewed as an expense?

I welcome your questions, comments and responses to these assessments. What impacts are you seeing (or do you anticipate) in your job, employer or industry? What outcomes are you working to create or would you like to create? What do you feel is a good career strategy given your situation?

If you're not sure, email me at coaching@maggiemistal.com for an assessment of your current situation and what you can do to strategically manage your career.

Smart Career Resources For Tough Times

"We never thought it would get this bad." Words from one employee affected by the changes that are hitting Wall Street this week.

Most are in shock but realize action is necessary to weather the storm effectively. If you are looking for support and advice, here are sites I've found useful:
--Collection of career advice from expert career coaches and authors
--Free career how-to videos on finding a job during tough times, landing a recession-proof job and acing a job interview
--Tips from the NYTimes.com if you're Out of Work on Wall Street

My advice, take this as a wake up call - focus on your passion and your unique strengths and the money will follow. And I walk the talk.

I made it through the Andersen debacle by doing a soul search BEFORE the job search with the help of career coaching. I found the process so helpful, I got certified as a coach and started helping all my Andersen friends with their careers. Now 7 years later, I'm my own boss helping people get out of the rat race and into careers they would do for free (but get paid well to do.)

It's your turn to take control of your career and find opportunity in challenge.

Join the conversation with your comments and let's all get through this together. What are your thoughts on what's happening on Wall Street? What advice you want to share for those impacted?

Recovering from Career Crisis

If you haven't heard, today shock waves went through Wall Street. Sadly, I know how these employees are feeling. It's de ja vu back to my experience with the Andersen/Enron debacle.

Going through a corporate crisis is not something I recommend. Though I have to say it has made me stronger. For those personally impacted by the changes announced today on Wall Street, I do have some advice that can help you not only cope with the situation but use it as a springboard to take charge of your career.

--Take stock of what you do have. It's amazing how crisis puts things in perspective. Be thankful for your health, friends, family, skills, experience, savings. It will help you see that you have support to move on.
--Realize that this too shall pass. You have recovered from career setbacks in the past. You will recover from this one. Reach out to others who can share advice and ideas-former colleagues, mentors, recruiters, career coaches.
--Focus on what you can control. I remember being angry with management for the Andersen situation. It was frustrating to see something end with so many good people impacted. However, I've since realized that everything happens for a valid reason - even the tough situations. I focused less on my anger and more on my abilities to create a new career. In fact I can honestly say that the end of Andersen meant the beginning of my new career in coaching.

If you weren't personally impacted by the fallout on Wall Street today, I'm sure many of you know someone who has been. Consider calling or emailing to check-in. That was my first reaction when I heard the news. See if you can offer any help, even words of support would be of use to people in this challenging situation. Besides by offering help now, you give to your network. And you never know when you might be the one taking that assistance in the future.

Has your career been impacted by corporate crisis? Have you recovered from crisis like these in your career?