In the Firing Line?

A few short months ago, ‘You’re fired!’ was the catchphrase of Sir Alan Sugar, despatching another aspiring apprentice, whose ambition was only matched by their ineptitude, from the popular UK TV show.  However those words are now likely to be heard in more and more workplaces as the slowdown starts to spread from the financial markets into other sectors of the economy.

As good risk management professionals it’s worth applying a bit of that analysis to our personal lives as well. Loss of income (and the other non-financial benefits of employment) through redundancy is probably one of the key risks facing an individual, but can also be the source of great opportunity. Risks call for a package of control measures to reduce both probability and impact, and here’s a quick checklist of things that you should consider for your personal control profile:

• Make yourself indispensible, and get yourself noticed – tough if you’re already working at 101% of capacity but it helps to volunteer to take on new tasks that need doing (ideally on long term projects), and to get a reputation for getting things done
• Sharpen your skills – naturally we at IRM are keen on this one and offer lots of opportunities to extend professional knowledge, such as our new range of specialist risk management courses and occasional workshops on softer skills like influencing and communications. Qualified professionals have a responsibility to keep their skills and knowledge up to date with CPD. If you are not qualified then do something about it – it could make all the difference when in the frame for keeping your job, or getting a new one.
• Get networking – get yourself known in the industry and volunteer to help out with professional groups. Help your contacts if you can – you never know when they may be able to help you. Having a professional profile with people outside your immediate employment thinking you’re great boosts your confidence as well as well as your employability.
• Be positive and have a great attitude – this is not the time for slacking, grumbling and clockwatching. Make sure your boss, and your team, wants you around.
• Be prepared - keep your CV up to date, including all those skills you’re acquiring and the professional networking you’re doing. Make friends with some recruitment consultants, just in case. It also helps to recession-proof your own finances – reduce debt and increase saving – to improve your own resilience should disaster strike and help you avoid having to make hasty decisions just to maintain the domestic cashflow.

Carolyn Williams

Development Manager

The Institute of Risk Management

November 2008

This article first appeared in CIR Magazine