Staff-Kenya Blog

With layoffs, pay cuts, and furloughs all in the news, even the most accomplished professional has good reason to worry about job security.

Last month it was Equity bank in the news for retrenching over 50 employees. Yesterdays lead feature in Business Daily reported that KCB Bank has plans to retrench a 1,000 of its workforce.

How safe is your job?

In a tough economic environment, companies look at all kinds of cost-savings measures. Some have already trimmed staff, instituted hiring freezes, implemented pay cuts, and/or reduced the workweek.

It all translates to less opportunity from the standpoint of income, and more uncertainty.

Indeed, if anything is certain these days it’s that uncertainty rules.

Your particular situation, while dictated in part by the economy, also depends on your employer’s circumstances.

In order to try and assess the situation, pay attention to your industry’s business climate. (This is definitely not the year for Bankers in Kenya)

Then, look at your company’s standing in the industry.

How does its sales compare to those of competitors? What’s the outlook for your company? What’s the outlook for your industry?

Does your company invest in research and development (R&D)? If so, is it bringing any exciting new products to market soon?

If you work in a service industry, how is the current demand for services? If business has slowed, what will jump start activity?

Also consider your company’s brand. Is it a household name? Is it associated with leading-edge ideas? Either suggests growth and brighter times ahead. On the other hand, if your company’s brand has been tainted by scandal (G4S comes to mind), it could be a long road back from the dark place.

Your Situation

When evaluating job security, you also have to look at another factor, and that factor is your standing within the company. Admittedly, this can be really difficult to do, mainly because it requires brutal honest.

First, take stock of the basics.

How does the department in which you work contribute to the company’s overall objectives?

If your company makes bread, for example, and you are in the department that produces bread i.e if you are the baker, your department is essential. Unless of course the company’s bread sales have fallen off a cliff and the warehouse is bursting with unsold bread.

Look at your department, and then look at your position within the department. Are you one of 15 bread makers? Or are you the only bread maker? The day your department is over staffed is the day to start preparing your CV and making applications.

Here’s where the honesty comes in. If you’re one of 15, how do you compare to your coworkers? Are you the best of the bunch?

If you’re the only bread maker, do you have other skills? If the company decides to suspend bread making for a while (and start with cakes), can your expertise be utilized in another area? Do you know where you might make a contribution?

It can’t be emphasized enough: You should do your job to the best of your ability, and when possible up your game. This might require expanding your knowledge and skills, which will require additional effort on your part. However, by taking the initiative, you can increase your standing within the company, which will lead to greater job security.

Of course circumstances are sometimes beyond your control. Corporate decisions are not always wise or fair, and you still might find yourself with a pink slip in hand.

Fear not. If you’re a top performer who is expanding her knowledge and skills, you will be extremely appealing to other employers. And that’s real job security.