What’s Trending: Career Cushioning
November 5, 2024
Share this post:
Workers are uneasy. After a rocky few years following the boom that some workers experienced during the pandemic, it seems things have shifted against them. From inflation to return-to-office mandates to even finding out that both remote and hybrid work aren’t absolutely heaven-sent, it seems that they have begun feeling shifty–and companies have noticed. The tanking of the engagement rate, combined with waves and waves of layoffs in different industries, also hasn’t been helping. But what can be done?
Career cushioning is the answer, but what is it, and how can it help workers? Does it harm companies, or can they use it to their advantage? Keep reading to find out what top publications say about it.
HubSpot’s Marketing Blog Editor, Alana Chinn, wrote an article about how she’s openly career cushioning along with many other workers, and maybe you should try it, too. Career cushioning is the latest trend of workers trying to find some semblance of certainty in an ever-changing job market.
Chinn writes that she has a side hustle, a candle shop, just in case her job at HubSpot goes under. Many industries, including tech companies, were affected by layoffs and inflation, an industry previously considered solid. This has forced people to consider “cushioning the blow” of a layoff in case it happens without notice.
“It’s about being proactive and creating additional job opportunities, keeping your professional assets up to date, or starting a business on the side.”
Career cushioning isn’t jumping ship. It’s just keeping options open. But how do you have a career cushion, even if you’re not actively looking for a job? The first step is to wonder if it’s right for you. Chinn has three questions that you should ask yourself:
1. Do you feel satisfied and secure?
2. Can you refresh your skill set?
3. Do you want to explore new opportunities?
A big factor that anyone looking at career cushioning must have in mind is that there shouldn’t be any risk in your job. Cushioning’s whole idea is to create a safety net, not to bring down more problems for you. You can cushion yourself into a career change or a passion project, but the ultimate goal should always be job certainty.
Morgan McKinley’s team argues that cushioning can also help you progress your career and protect yourself against a layoff. According to Gartner, 94% of people consider that to progress and remain secure in their careers, workers must add skills beyond those needed in their jobs.
If you’re asking yourself “how to do career cushioning,” they have a basic plan you can follow. The first thing is to consider your skills. What are you good at, what do you enjoy doing, and how can you merge these two into a career? For this, the next step is to upskill, reskill, and cross-skilling. You might need to return to school, take certifications and courses, or network to find your next step.
The next step is to set yourself up for success at your current job. Remember, the idea for career cushioning is to soften or avoid the blow of being laid off, and how can you do that? By doing an excellent job and being an essential part of that team.
Considering a contracting role within your profession can be freeing for some, as they are just coming and going according to their own schedule.
In an article for Forbes by Jessica Kriegel, the publication explains the job market that gave way to cushioning and how companies can retain and engage their employees.
According to a survey, 68% of workers actually engage in some career cushioning activity, whether they know it or not. Kriegel says that these include keeping their LinkedIn profile updated, constantly expanding their business network, and even putting job applications “just in case.”
So what can companies do when faced with this high percentage of employees dreaming of greener pastures combined with the percentage of unengaged workers? The answer seems to be simple: be transparent and receptive.
“The key is balance and understanding—with employees seeking more security through career cushioning and employers aiming for stability through transparency.”
Transparency is necessary for security. Nobody likes to be caught unawares, so avoid doing it to employees. When there are challenges, make sure that people know about them. Some may leave, but you won’t be surprised if they quit.
You should also ask for feedback and look for frustration. Managers should be able to manage people and tend to their insecurities before they become unviable and suddenly quit.
Career cushioning is extremely common, with a big percentage of workers doing it, even if they aren’t really looking for more opportunities away from their jobs. It is not necessarily that they’re jumping ship, though companies might think that’s the way it is; they’re just looking to cushion their fall if they’re suddenly let go.
Workers should look at career cushioning as an insurance policy in case things do go wrong, but also as an investment. After all, expanding the skills, reskilling, and upskilling can help them climb the ladder at their current company if they play their cards right.
WHAT DO YOU NEED TO FIND?
