Coping with career change

171,900 people were reported jobless in Hong Kong at the end of February, taking the unemployment rate up to a new high of 5%, the highest it has been in 32 months, according to the Census and Statistics Department.

Hong Kong is reacting. Financial Secretary, John Tsang announced job creation plans earlier this year that will see HK$1.6 billion spent and 62,000 jobs created over the next three years; however, the employment situation is expected to deteriorate further before it recovers.

The job market will bounce back but it is unclear when. In the meantime employers, employees and job seekers need to evaluate their position. Instead of ignoring the current environment, it is time to look at your circumstances and the possible opportunities the current climate may create.

Those in work may see a change in role, increased confusion and the stress of a heavier workload. Those in transition will find the job market more competitive as the number of people out of work has grown with more people to fill fewer vacancies.

Deborah Matson, Managing Director, Links Recruitment comments “Change is in the air. Employers and employees are experiencing much transition, be it internal organizational restructure, redundancy, career break or changes within current role.”

What should HR managers do to cope with career change?

Matson went on to say, “It is critical to be career fit as an individual regardless of whether you are happy in your current role or searching for the next opportunity.” She then highlighted steps HR managers can take to gain self empowerment and control of their situation:

• HR managers should organise their CV and portfolio. Review their last role identifying key achievements. Always try to include successful financial indicators such as sales performance, cost savings, projects brought in on budget and other related highlights.
• Understand strengths and areas of development. Skills are transferable. If an HR manager is looking outside of the HR industry, consider sectors and positions that complement the developed skill set.
• Knowledge is power. Keep up to date with competitors. Research both the current and desired industry. Who’s hiring, who’s firing. Technical and product developments. Office openings.
• It is important to think about job fulfillment. Invest in building good relationships with colleagues in not only the HR department, but in every department. Take opportunities to develop within an existing role and company.
• Hold a positive mental attitude. To gain clarity on strengths and development areas managers may want to invest time with a professional who offers psychological assessment, development planning and coaching support.
• If roles are made redundant take some time to assess what this means. See this as an opportunity to take stock and be clear about next steps. Following an initial shock, there can often come a sense of relief which enables exploration of new options. HR managers should think if they are on the path you want to be on? Managers should consider if they will target a new role as quickly as possible in the same industry or change industry, learn new skills or take a career break.

Helen Hanson, HR Services Consultant & Career Transitions Manager, Links Recruitment comments: “Redundancies have unfortunately been inevitable over recent months and acting responsibly as an employer is crucial. Redundancy programmes that are handled poorly can spell disaster both internally by potentially destabilizing your surviving employee base and externally, which can have a negative effect on your brand.

She went on to point out that redundancy is one of the most traumatic events an employee may experience. Announcement of redundancies will invariably have an adverse effect on morale, motivation and productivity. These negative effects can be reduced by sensitive and empathetic handling of redundant employees and those remaining.

In order to deal with redundancies many companies turn to outplacement support for help in this situation as people can be more receptive to an external resource. The business often requires additional professional resource.

Retaining your talent following redundancies and restructuring while keeping morale high and ensuring productivity is difficult to do. HR managers should focus on planning for the future. This helps to demonstrate your commitment to the retained and ‘surviving’ talent and will strengthen relationships for when the situation picks up. Employees are at the heart of any business and encouraging passion, involvement and motivation are primary factors in retaining your top talent, especially during challenging times.

Managing change, career transition services are becoming increasingly popular in this current climate as both employers and employees can benefit from the suite of services including outplacement support, psychological assessment, career advice and training from professionals.