How are you feeling about your job? Depending on what industry you’re in, you may be concerned about layoffs or consolidation. A recent survey from Bankrate revealed that a whopping 88% of workers who are worried about their job security are planning to take action within the next year. These actions include everything from searching for new job opportunities and asking for raises, to relocating or even quitting altogether. Why? Workers are realizing that we’re in uncertain times, and are planning to make positive career changes on their own terms while they still can.
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The survey also found that people are changing jobs more frequently than ever before – 56% of the workforce looked for a new job in 2023, up from 51% in 2022. We know that many of our readers have big career goals that you’re working to hit in 2024 and beyond — whether that be switching careers, looking for a new role, or mapping out a 5-year plan.
Fran Hauser, author of “Embrace The Work, Love Your Career,” says that even if you’re feeling restless, it’s best to stick it out in your current role while you start putting out feelers. “It’s all about relationships,” Hauser says. “It’s about reaching out to people, letting them know that you’re thinking about your next chapter, and asking them to introduce you to other people who might be helpful. I always say that it’s all about people. It’s not really about your skills.” She also recommends that if you’re thinking about looking for a new role but aren’t quite there yet, start interacting on social media with other people in your field, whether that be someone from a company you’re interested in working for, or someone whose work you simply admire. This is helpful because when you’re ready to reach out to them for a connection or a coffee, it won’t feel transactional.
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If you’re happy at your current company but looking to move up the ladder, Hauser advises you to take a moment to reassess what you want your day-to-day to look like. Decide what you want to pursue more of, and at the same time, make sure you’re making space to work on at least one project the executive team really cares about.
“You want to be top of mind for people,” Hauser says, “And not just sit back and wait for things to come to you. If there are high-profile projects going on all around you and you’re not working on any of them, raise your hand to be on one of those teams because you want your work to be visible.”
In Mailbag, a listener asks for a breakdown of high-yield savings accounts and how they work. We also hear from someone looking for courses and resources to help her become a financial coach. In our money tip of the week, how to do a financial checkup to make sure you’re not paying for things you don’t need (we’re coming for you Netflix subscription).
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All advisory services offered through Financial Engines Advisors L.L.C. (FEA), a federally registered investment advisor. Results are not guaranteed. AM1969416
