In an unpredictable economy, job security tops the list for many employees. Welcome to the “Great Stay” era– when employees are choosing to hunker down in their current roles rather than risk the unpredictable job market. But staying put doesn’t mean standing still. This is an opportunity to turbocharge your career growth; no LinkedIn update required.
It seems like yesterday, social media was inundated with talks of the “Great Resignation.” Like all things, we knew that trend was bound to change, and it changed drastically. In the US, the monthly quit rate peaked at 3% in late 2021 and has dipped to 2.2% in Q1 2024. Why? Career stability is now in the driver’s seat, reflecting current workplace trends and employee retention strategies.
While employees are choosing to forgo the uncertainty of job hunting, this doesn’t have to be a time of stagnation. Here’s the twist—this challenging scenario could be your launchpad for building career resilience and enhancing job security amid economic uncertainty.
You might be thinking, “How can I grow if I’m not moving to a new job?” Great question! The truth is, your current role is brimming with untapped potential for career advancement and personal growth. Here’s how you can turn your “Great Stay” into a “Great Thrive”:
Your job description is a launchpad, not a roadblock. To move your career forward, seek out and own the gaps in your team’s capabilities. Here’s how to identify and seize these golden opportunities:
Conduct a Skills Gap Analysis:
Claim Your Territory:
Innovate and automate:
Create a well-structured professional growth plan to boost employee engagement and align your career trajectory with organizational goals:
Identify 3-5 specific ways you can contribute beyond your current role.
For each idea, outline the following:
Example of a growth plan item:
By presenting a thoughtful growth plan, you demonstrate initiative and a commitment to adding value to your organization. This approach shows that you’ve carefully considered how to align your professional development with the company’s needs.
Cross-departmental collaboration opportunities: In today’s interconnected workplace, being a team player means more than just getting along with your immediate colleagues. Leverage your cross-functional skills by contacting other departments, fostering team collaboration, and driving workplace success.
Try this: Organize a “lunch and learn” session where different departments can share their current projects. You might stumble upon your next big opportunity!
According to the World Economic Forum’s Future of Jobs Report 2020, a staggering 50% of all employees will need reskilling by 2025 as technology adoption increases. Don’t let that statistic scare you – let it motivate you to invest in learning and development, reskilling, and preparing for future career opportunities!
Future-proof your skills with continuous learning and upskilling opportunities: Many companies offer learning stipends or reimbursements for job-related courses. If yours doesn’t, consider investing in yourself. Online platforms like Coursera, edX, and LinkedIn Learning offer many courses to keep learning opportunities fresh and relevant.
Make it happen: Set a goal to earn one new certification or complete one relevant course this year. Your future self will thank you!
Yes, the job market is uncertain, and yes, economic volatility is a real concern. But here’s the silver lining—this “Great Stay” era is your chance to become indispensable in your current role. By expanding your skills, taking on new challenges, and proving your value, you’re not just securing your position—you’re setting the stage for future advancement.
Remember, your career growth is in your hands. The “Great Stay” doesn’t mean you’re stuck – it means you have a stable platform from which to launch your next career phase.
Ready to turn your ‘stay’ into a launchpad for success? Your future self is waiting for you. What’s your first move?
