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Safeguarding Your Career in Uncertain Times Where will you be when the pendulum swings? November 2002 It's anybody's guess as to when the pendulum will swing back toward prosperous times. With so many differing opinions about what the economy is doing, who can really say for certain what the future holds? And, with all of the new developments in the financial arena, predicting the future becomes even more difficult for accounting and finance professionals attempting to manage their careers. So how can you position yourself so the pendulum swings in your favor, despite undesirable conditions? Perhaps your answers lie within the workings of the clock.
Pendulum clocks have been around since the sixteen hundreds, and they are still keeping accurate time today, without much change in design. Essentially, they contain certain basic parts -- the face and hands, weight, anchor, gears, and, of course, the pendulum. If you were to compare these elements with the fundamental concepts of your career, you might be surprised at the correlation. And, you might even find an alternative way of looking at how to maximize your professional potential.
Sometimes, the answer to your problem isn’t found in a grand new technology, or some fad-driven seminar or discussion group. Many times, you find the best results by simply focusing on the tried and true solutions. In keeping with the clock theme, lets look at a scenario.
Think about what happens to your electronic clock when a storm hits and the power goes out. Without a battery backup, you are left in the dark, wondering what time it is. When the power eventually returns, you immediately see the red blinking number. Your digital clock, so reliant on external resources, has reverted back to the default time of 12:00. Now, you have to start all over, figure out what time it is, and reset your clock; hoping that the power won't go out again.
Meanwhile, your uncomplicated, pendulum grandfather clock continued to keep time, ticking away in the dark. It didn't let you down because it isn’t dependent upon the electrical source supplied by the local power company. Instead, it relies on its good, old-fashioned, simple design that has kept the world on time since the sixteen hundreds.
Your career should work the same way. While the economic conditions do affect your professional life (often in ways you’d rather not experience), you don’t have to be solely reliant upon the economy to power your career. Surviving harsh times does not mean sitting in the dark, waiting for the economic pendulum to eventually swing in your favor. The answer lies in having a backup strategy; doing what you instinctively know to do in any crisis situation.
So, using our handy encyclopedia, let’s take another look at the parts of the pendulum clock and see what you can learn for this "old-timer."
Set Specific Goals
Two key parts on the face of the clock include the minute and second hands. By way of association, you might say these hands represent your short- and long-term goals. You may not put a lot of emphasis on setting goals, but more often than not, if you don’t make a concerted effort to develop them, chances are they will remain out of reach. If this typifies you, you’ll find yourself off course and wonder when and how it happened.
It isn't always easy to come up with goals, and you may not instinctively know what they are right away. But as you focus on what you hope to accomplish with your career, you will find yourself gradually reaching and exceeding each milestone.
Remember, goals are accomplished one step at a time. Don't try to bite off more than you can chew. Think about what it is you ultimately hope to achieve, and set small tasks that you can complete each day to help you move closer to your professional objectives.
For instance, if you have made the conscious decision to transition from your accounting role and become a financial planner, take the time to identify each and every task necessary to succeed. What certification(s) will you need? What skills must you master? How can you get more information about the work requirements? What opportunities exist and where are they located?
There are a lot of resources available to you when you are researching your options. You can access a wide variety of reputable business publications, industry news feeds, and professional association Web sites that cover every area within the accounting and finance industry.
You can also talk to experts in the area you are pursuing. This might mean meeting with a recruiter or joining an association or community group where you can network with individuals in your desired field.
Another option to consider is contacting companies and requesting informational interviews. Many business professionals can relate to your experience and are more than willing to meet with you. It is a great way to find out more about your desired position, and might even mean a job lead or part-time work.
There are many variables involved with planning or transitioning your career. Don’t make the mistake of assuming you can do this without careful thought and preparation. Taking the steps to plan your short- and long-term goals can be a wonderful discovery process. You will also feel a rewarding sense of achievement as you reach and exceed each goal.
Focus on Your Core Strengths
Let’s get deeper into your career planning by taking another look inside our clock. To wind the timepiece, simply pull the cord connected to the weight. The law of gravity causes the weight to fall and release energy that drives the internal gears.
The anchor controls the speed at which the weight falls. As the pendulum swings from left to right, the anchor gradually rotates the mechanisms holding the weight so it keeps perfect time.
You may be feeling weighted down, or perhaps you think things are a little out of control. This is the time to rely on your anchor; your core strengths that are going to help you keep your career on track.
Think about what you know, or need to know, in order to keep your career secure. Don’t focus on what position you previously held. There may not be a lot of opportunities in that area, and you could find yourself feeling more frustrated.
Instead, find out what skills are still in demand, and accentuate those areas in your resume and cover letters. Sometimes, just rewriting your resume to reflect those skill sets can determine if you are selected for an interview. You know the competition is tough, so make sure your resume stands out.
Know What’s in Demand
Here are a few of the general accounting and finance trends Acsys consultants are seeing (and have seen over the past year):
Remember the Intangibles
Be sure to remember your intangibles when you are looking at core strengths. Great communication skills are always in demand. However, many accounting and finance professionals neglect to hone their people and presentation talents. Don’t make the same mistake.
More and more financial professionals are being asked to manage larger groups of people, lead interdepartmental teams and provide ongoing company communications. This requires excellent people, presentation and writing skills. If you think you need to develop in these areas, find outlets that allow you to practice.
Many people pay to join organizations or take writing classes, but you can sharpen your communication skills in smaller ways too. Perhaps you can lead a team meeting, write a piece for the company newsletter, or volunteer to give a presentation somewhere in your community.
For example, you could provide a "career day" presentation at a local school, or offer a free workshop on financial planning or tax preparation. The key is to gain experience communicating in as many different settings as possible. Great communicators achieve their standing through extensive practice. So, start practicing today!
Find out what anchor skills you need and use them to keep you stable during these uncertain times.
Take Control of the Situation
According to Encyclopedia.com, Christiaan Huygens, a Dutch astronomer, was the first to use the pendulum in the clock. He deduced that two factors were responsible for making the second hand move exactly one revolution per minute. These factors are gravitational force and the length of the pendulum. Since you know that gravity is invariable, then you can deduce that the pendulum’s length is the important factor here.
You might say, "Big deal, what does that mean to me?" Well, think of it this way. The pendulum is designed to keep moving back and forth. Its pattern is consistent and predictable.
History has taught us the same about the economy. What goes up must come down, and what swings left, will eventually swing back to the right. It will happen; you just can’t always know at what speed it will occur.
But, there are things you can do to position yourself so that no matter where the pendulum swings, it can be in your favor. Dom Vacca, one of Acsys’s original founders, offers the following advice:
It’s true that things will happen that are beyond your control. But the important thing to remember is that you can’t leave your career at the mercy of the economy. You need a back-up plan so that when the economy falters, you are still standing.
The economic pendulum will swing back to prosperous times. But you don’t have to sit around and wait for that to happen. Take the steps right now to ensure that no matter what is happening in the marketplace, you have a plan that will keep the pendulum swinging in your favor.
Acsys Inc. is a provider of professional staffing to the accounting and finance industry. Specializing in entry-level to executive placement, Acsys offers both interim and long-term solutions to Fortune 500, middle-market and emerging growth companies. Acsys' Professional Crossroads column, produced by career counseling experts, aims to assist accounting and finance professionals with critical career decisions. If you have a topic related to career transitions that you'd like Acsys to address, let us know at editor@smartpros.com.
2002 SmartPros Ltd. All Rights Reserved.
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