Bohan and Bradstreet

Will the Momentum Change?

7/25/2022 by Bailey

Over recent years, it has been blue skies for most. The USA has been the leader for global recovery. The value of the US dollar hit a 5-year peak in May (2022). We survived Covid. Unemployment is hovering at 3.6%, a sustainable low for the first half of 2022. “Buy America” is the trend. People have been venturing out and reembracing life.

And then prices gradually increase. The stock market starts to respond. Spendable dollars are a luxury if available. Interest rates are up. Supply chain quagmire remains. Is a recession on the horizon? Does working hybrid or virtual enhance career progression? What are you doing about your future?

From a career planning perspective, here are the three questions you need to ask yourself:

  • How valuable is your role? If you are meeting or exceeding expectations, then the more critical your role is will be a barometer for your career progression. There are three levels of employment. The first are those that lead and impact strategy and P/L. The second are those that implement and drive strategy, change, and/or continuous improvement. The third are the doers.
  • How stable is your current employer? Evaluate revenue trends and backlog. What is the recent history on winning or losing customers? Is your employer making investments in infrastructure? Are we innovative on product or services? Does the company have differentiators that are sustainable? Is the culture and/or leadership changing?
  • Are you reinvesting in your career? If you don’t know more or have not added new skills in the last year, then you have lost market value. No one owes you a living. Career security and progression is a combination of self-awareness and motivation to be your best.

Take a moment to reflect because the economy is unpredictable. Own your career.