Finding job security in this time of layoffs

I had an interesting discussion at the Reading Club last week based on the question of whether artificial intelligence is causing the growing trend of layoffs.

After we agreed that, yes, it is, our thoughts morphed into a bigger conversation about changes in the U.S. and global economies and workforce needs.

We then agreed that as layoffs continue to impact government, financial, tech, media, retail sectors and beyond, another trend is also true: While entry-level and redundant jobs are being ill-affected, there are also many new opportunities.

For example, take IBM.

A few years ago, after automating 94% of routine HR tasks with AI, IBM initially cut about 8,000 jobs.

Yet within a year or so, it had rehired nearly the same number — not in administrative positions, but in higher-value roles across engineering, product and client services.

In the process, the company reported that it had gained an estimated $3.5 billion in productivity, and its workforce became more specialized, more technical, and more future-proof.

Remember that phrase.

This year, nearly 1 million jobs have been cut by large U.S. firms – think Amazon, UPS, Target, Microsoft, Intel and many others.

Pending layoffs may trigger a range of responses, such as denial (“it won’t happen to me”); uh-oh (“I’d better polish my LinkedIn and clean up my Instagram”); or just shutting down (“poor me, I can’t do anything about it anyway”).

While these layoffs are definite signs of some level of trouble ahead, those who are being laid off aren’t necessarily the ones who qualify for the new hiring spree.

Merely defensive reactions

Looking ahead, middle- and upper-management professionals (like you?) best be prepared for this new transition. Because the biggest shift is with the new skills that will be needed going forward.

Since the core of every successful adaptation is the ability to step outside of your comfort zone, we all need to ask ourselves, how will this affect my career?

What are the most important skills your industry and employer will need in the coming years? Do you have those skills? If not, are you motivated to get them?

It’s time to hunker down and continue to prove that you’re a valuable employee and re-commit to your job. If you think you might be laid off, take the following steps to protect yourself and your career path.

First, network like your career depends on it. Because it probably does.

Over 80% of new positions were found and filled through some level of networking. It’s not only who you know but who the people you know, know.

That will always be true.

Network (discretely) within your company in hopes of being among the last ones standing, and network within your industry for opportunities that might be a good fit for your skills.

Become better known to those who know you best, because that’s where your best leads and opportunities will come from.

Attend as many local, regional and national industry gatherings as possible, even if you pay your own way. Invest in your future. Take stock of your transferable skills.

Become well versed in presenting them to others. Build expertise in high-demand areas where you might have gaps.

At IBM, it’s now all about AI implementation, data analysis and other industry-specific areas.

New skills that will benefit you

Invest in new skills that will benefit you, as well as your employer. Work to improve customer service and come up with ways to bring in new business. Seek job interviews even though you think you don’t need to.

Take calls from recruiters and keep their contact information handy.

Book as many interviews as possible, not only to keep your interview skills sharp, but to learn real-time market intelligence. You’ll build a more robust contact list as well as new relationships.

You’ll also fortify your personal confidence and belief in yourself.

No, this may not be the time to panic.

But it’s likely time to pay closer attention to where you want your career to take you, now and in the future.

Be sure you are among the 8,000 hires, not the 8,000 layoffs at IBM.

Blair is co-founder of Manpower Staffing and can be reached at pblair@manpowersd.com.