The Life Sesh

Future-Proof Your Career at Any Stage

Why It’s Essential to Have a Back-up Plan

At critical point in my career, I found myself forced into a decision to make: stay or move on. I was surprised by the timing, but not by the situation. I was fortunate that I had put a lot of thought into the ‘what if’ scenarios that could possibly play out. I didn’t panic. I was ready. I had a back-up plan.

You might find yourself in a similar situation. Your career seems to be on a good path. You’ve done the work to choose your jobs wisely. You’ve performed well. You’ve even mapped out a plan for your development and future jobs. But, life has a way of throwing curveballs, and careers are no exception.

No matter what phase of your career you are in, having a Professional Back-up Plan is one of the smartest moves you can make. This doesn’t mean that you suddenly adopt a pessimistic outlook and expect the worst, but rather it’s about being prepared for the unexpected.

It may seem like something you don’t need, and let’s hope you don’t have to use it. But it’s always better to be prepared, so we’ll look at what a professional back-up plan is, why it’s crucial, and how you can craft one that’s right for you.

One of my former colleagues faced this situation recently. Lin just took over a new role in her department leading a large project management team. For years, Lin had thrived in her role, taking on new responsibilities, honing her communication skills and even sharpening her technical skills and financial acumen. Her team loved working for her and appreciated her dedication to helping them grow and develop and thrive in their own careers. Things were going great for Lin – until a major reorganization upended her world.

Suddenly, Lin was presented with two options: accept a demotion with reduced responsibilities or take a generous severance package and start over elsewhere. To make matters worse, Lin was only given 2 weeks to figure it out. After all that time with the company, she didn’t really know what to do.

Lin did not really have a back-up plan. She had cultivated a strong professional network over the years and had kept in touch with former coworkers and managers who had moved to other companies. But she had not maintained a current resume and had left her LinkedIn profile rather sparse. She hadn’t thought about moving to a different company, and she never suspected that her role would be eliminated. She was not prepared to make such a big career decision with such a tight timeline.

What Is a Professional Back-Up Plan?

Think of your Professional Back-up Plan as your career contingency strategy. You are going to be proactive about creating a guide for yourself in case circumstances change unexpectedly. Change can happen at any time: there are industry downturns, company restructurings or even personal decisions that might require you to relocate. You might think it’ll never happen to you. But in the heat of the moment, you will be grateful that you thought about it ahead of time.

Your Professional Back-up Plan will answer questions like:

  • How prepared am I for a sudden change?
  • Where could I go next if my current role disappeared?
  • Who in my network could support me?
  • What skills or experiences can I leverage to pivot?

 

With these answers you will have a safety net for maintaining career momentum when the unexpected happens.

Why Does Everyone Need a Professional Back-Up Plan?

If you follow the business or economic headlines, you know that today’s workplace is more unpredictable than ever. The economy is in flux, the global geopolitical environment is ever-changing and new technologies such as AI are disrupting business. In response, companies change processes, organizations restructure, and entire industries evolve. These changes touch most sectors of the economy.

Having a Professional Back-up Plan will give you peace of mind and empower you to make thoughtful decisions under pressure. It will be very useful in scenarios such as:

  • Reorganizations: Companies change how work is performed, move or eliminate roles or shift and outsource responsibilities.
  • Job Loss: Company performance, technology advances or customer changes may lead to downsizing.
  • Career Growth Stalls: Culture shifts, manager changes or development philosophy at your company impacts your potential for future growth and advancement.
  • Personal Choices: Family, relationship or other personal decisions give you a reason to relocate.

Customizing Your Professional Back-Up Plan for Your Career Stage

A good back-up plan evolves as your career progresses. You can create your own plan to match where you are in your career:

 

Early Career Professionals

  • Focus on Skill Building: Identify the most important skills for success in your field, and take steps to stay current.
  • Network Proactively: Attend industry events and online educational opportunities and connect with peers and mentors. Reach out to industry or alumni networks.
  • Explore Opportunities: Research companies you may like to work for and understand their culture and values.

 

Mid-Career Professionals

  • Leverage Your Experience: Ensure that your resume and LinkedIn Profile are up to date. Optimize your profiles to align with roles that are like yours or ones you aspire to.
  • Stay Current: Ensure that you are optimize training courses offered by your company or external training or webinars in your field.
  • Build Upon Your Relationships: Strengthen connections with colleagues, mentors, and industry leaders.

 

Later-Career Professionals

  • Optimize Your Experience: Stay close to your network on LinkedIn and other social media. Consider how to communicate your expertise more broadly than your daily professional circle.
  • Update your Skills: Look for new advances in your industry and skill and make time to build your knowledge.
  • Reconnect: Reach out to connections with whom you have lost touch. Seek insights from former colleagues and mentors.

Call to Action – Start Creating Your Professional Back-Up Plan

It’s time to roll up your sleeves and craft your back-up plan. Here’s how to do it:

  1. Reflect On Yourself
    • Write down the aspects of your job that bring you satisfaction and align with your long-term goals.
    • Think about how you feel personally about your job, your career path and your personal life. What do you want to maintain? What do you want to change?

  2. Research Your Industry
    • Look for similar companies where your experience and skills would fit.
    • Think about other industries or new roles you would consider in the future

  3. Evaluate Your Skills and Gaps
    • Identify areas for your own development
    • If you are open to a new functional area, make a plan to acquire the new skills needed

  4. Assess Your Network
    • Map out contacts who could provide insights or introductions to roles at your target companies.
    • Plan to reach out periodically to your contacts.

Creating a Professional Back-up Plan is a way to empower yourself. You don’t have to think about a career downturn all the time, but if you make the investment when times are good, you will feel a greater sense of control when you need it the most. You will feel more positive about your career trajectory, even when you think the immediate outlook might not be so bright. Your Professional Back-up Plan is your safety net, and it might just end up being your springboard to success!