Think As Inc

A Win-Win Solution To Labor Market Chaos

July 15, 2010 on 6:08 pm | In career coaching, life coaching | No Comments

A Fortune magazine article for a past downturn highlighted the changing scope of layoffs  – affecting white-collar, as well as blue-collar; recent graduates, as well as experienced.  The downturn is even hitting historically stable jobs, such as banking and consulting.  In these precarious times, one might wonder, “Can anyone win in this problematic labor market?”

An indiscriminate market that hits even the safest careers highlights an important and often overlooked point about the choices we make.  There is no 100% job security.  Every choice carries a risk.  If you make a career choice just to mitigate your risk, you could experience a potentially bigger letdown.  Let’s say you choose that consulting job, even though your dream is publishing.  Because consulting is stable.  Because publishing doesn’t pay well.  If you’re one of a significant number of recent graduates who got laid off when several big-name firms downsized, you’ve lost out twice:  1) you’ve lost your job; and 2) you’ve compromised your dream for what turns out to be a false sense of security. 

A better approach would be to acknowledge that all careers carry potential risks and therefore to take the risk for something you truly want.  This approach is a win-win solution.  If things work out, you have your dream career.  If not, you have the satisfaction of knowing that you did your best for what you love.  Either way, you’ll have a fabulous time on your journey.