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Career Ownership: Are You Downsized FRED?

Downsized Happens

 

Fred Haise had a remarkable career by any means you choose to measure it. Any Astronaut from the Apollo era was a role model to a generation of kids – like me- and anyone else who marveled at the life-changing advances resulting from America’s space program. And yet, Haise’s career was quite different than it might have been. Consider this:

Fred Haise was played by Bill Paxton in the movie Apollo 13.

Haise was in transit to be the 6th human to ever walk on the moon.The drama of his experience captured the world’s attention. You may have seen his movie.

Apollo 13 became NASA’s greatest “successful failure”, and Haise needed a miracle just to survive the mission & return to earth. Forget landing on the moon.

Later, Haise was slated to command Apollo 19, his last chance to visit the moon. Alas, 1970 budget cuts effectively ended moon exploration, and so Apollo 19 never left Kennedy Space Center’s Launch Complex 39A.

Finally, leading the second Space Shuttle mission to Skylab was his next high-profile assignment. You guessed it: The mission was scuttled due to program delays and the unforeseen decaying orbit of Skylab that made his mission moot. Not one of these things was Fred Haise’s fault, but you can say his path took different turns because his planned career was “reduced” by circumstances outside his control. In a word:

Downsized!

 

Fortunately, being “downsized” didn’t define Fred Haise, and it shouldn’t define anyone else either! Haise left NASA to take an executive position with Grumman; a change that likely gave him more career autonomy than he ever had with NASA.

This is my 5th (of 5) articles asking the Career Ownership question from the introductory article: Who OWNS Your Career?  And, …

Are you FRED (“F.R.E.D.”) ?

(Frustrated, Retired recently, Entrepreneurial, or Downsized?)

Fred Haise envisioned his astronaut career. However, 3 times, BEYOND his control, major career plans failed.

Today, let’s review the status of Downsized FRED. It doesn’t matter whether you were part of a reduction-in-force (RIF), a layoff, merger / acquisition, a company bankruptcy, or even a firing: Being downsized has an extremely emotional impact. There should be a time to properly process the emotions, reflect and learn from the experience, but “getting back on the horse” needs to happen before the paralyzing nature of “worry” arrives. Heed Coach John Wooden‘s advice:

“Be quick, but don’t hurry.”

Some common causes for being downsized include (1) being a poor fit for your assigned role (“Sometimes the Good Lord will fire you from positions that you were too complacent to quit”), or (2) business conditions beyond your control. Think about that for a minute. Because…BOTH of these causes can be eliminated, or at least minimized, as possible outcomes of your next career move. More on this later.

So, you’re downsized? What’s next?

 

The first blog in this F.R.E.D. series asked the question: “WHO Owns Your Career”? Well, if you were downsized by someone other than yourself, then someone else owned your career at that point.  If that feels like a wake-up call, then for the sake of fresh thinking: Accept that premise, move (mentally) from a passive to an active career paradigm, and among your possibilities, consider Career Ownership … for yourself!

Of course, there are some real challenges ahead for people who have been downsized. Is it generally tougher to interview and get a new job when you don’t currently have one?  Sure.  But let’s look deeper into more important long-term points.

Pre-COVID, Gallup and the U.S. Labor Department reported some stunning poll numbers and statistics suggesting that both job security and job satisfaction are oxymorons. Recent years saw many Americans downsizing themselves! The Great Resignation, The Great Reshuffle, The Great Regret, and The Great Ownership Transfer have all been post-COVID realities of America’s workforce.

Your grandfather may have gotten the gold watch for working at the same place for 35 years, but the average boomer had 5.8 jobs just between the ages of 25 and 45. Among downsized (for any reason) career professionals over 50 years-old, only 18 percent of them are finding new corporate positions, in the same industry, with a comparable compensation package. And a lot of those had to reluctantly relocate. Here in 2024, my anecdotal evidence from clients suggest that there’s no improvement in those statistics:

If I had a nickel for every time my clients shared THIS experience …

Your Mindset Matters!

 

Try this approach: Everything you’ve done in your career to this point has brought you to your current version of Your Career 1.0. Now, start from a broad strategic view, and ask yourself this question:

“If we looked at your life a year from today, what has to have happened during that period, both personally and professionally, for you to be happy with your progress?”

This question is not intended to be rhetorical, and the “we” is not a typo. Take some time with your spouse, a friend, or a personal coach to answer this question at the big picture level. Challenge yourself to upgrade – not merely adjust – or take a lateral move. And put a little (emphasis on “LITTLE“!) pressure on yourself. Why?

So that you won’t get complacent. Have a bias-for-action! Fear and worry will paralyze. Concern, with the proper mindset, will mobilize.

Here’s some other thoughts to consider for adjusting your MINDSET when you first arrive into “downsized” mode:

  1. You have SOME discretionary time that you didn’t have while working. Okay, even if you got a severance package – you may soon be facing a huge negative cash flow. We all get it: You need to eat and live indoors. And career search IS a full time job. However, if there’s something you’ve been putting off because of a LACK of time, ponder doing it during your transition. You may find that it gives you the energy and clarity you need to think, and later execute – your next career move because NOW ….
  2. You’re able to define your own future working terms. Ask the questions: Did your previous job have too much travel? Frustrating boss? Reduced commission plan? Too many 14 hour days? Bad corporate culture? Now, you can redefine a more desirable set of working conditions. Speaking of working terms, look more strategically to …
  3. Reset your lifestyle & financial goals. Getting closer to retirement? Need to build equity? Active and / or passive income? Kids grown? Aging parents? Want to play more golf? Travel the world? Want to move from Detroit to Destin? NOW is the time to do it.
  4. Think more B-R-O-A-D-L-Y . And, dream a little! If you’re mid-career or later, you have a FAR wider range of skills than you think you do, and your talent is transferable to far wider range of industries than you’re willing to admit. For example, leadership and management skills to run your own business venture can pay off handsomely.
  5. Get help. Career coaches can help. Outplacement firms provide valuable assistance. Job networking events are great place to start a job search. Want to explore career ownership & alternatives to employment? Reach out to me.
  6. Strongly consider your own venture, especially if you’re “in the 4th quarter” of your career. Don’t want to “invent” a new venture? No problem! There are countless self-sufficient opportunities that don’t require you to be an creative innovator or risk-taker on the level of a Steve Jobs or Elon Musk.

A key point of emphasis:

 

Artificial barriers are REAL.

Unless YOU decide they aren’t.

Identify the artificial barriers you’ve erected in your path; the metaphorical windmills you’re jousting against. Or, like this horse:

2,000 pound horse. 4 pound “anchor”. Think about it!

“So often times it happens that we live our lives in chains; And we never even know we have the key.” -Already Gone (The Eagles)

 

I see it way too often: Amazingly talented, skilled, and experienced professionals will put themselves into an imaginary box, and think they don’t have what it takes to even bother looking outside. I’ve seen business executives question their ability to run a simple small business because it wasn’t in “their industry”. I’ve seen a client fearful of short-term “costs” of what was really an investment; an investment capable of giving them an enormous short-term ROI! What’s the lesson here? Assess risk and self-doubt for what they really are: Bumps on the road between you and your goals!

Recently Downsized? Here’s Some Practical Thinking Tools:

 

Begin … at the beginning: The strategic level. Not your resume. Not your LinkedIn profile. Not the job boards. Those are tasks, projects, and operational to-do list items. Do that stuff later.

Yes: I recommend the books Your Career Revolution, and What To Do Next!

Instead, do the Simon Sinek thing, and Start With Why (Simon’s classic book title). WHY do you seek a career / job / venture in the FIRST place? My

hint to clients is to at least consider your career / job / venture as a metaphor: A vehicle to help you reach your realgoals; that is, your lifestyle & financial goals.

Once you’ve documented thoughts about your “WHY“, including any vision, any dreams, and big ideas – which ARE all at the strategic level, then move on to things like Who, What, When, and Where. These are often more “tactical” level questions: Would your family love to relocate? Does your spouse want to return to work? What kinds of things might you want to explore doing / ideas or even dreams? And, for now: FORGET the “How”. That’s execution, and thinking about the operational level at the beginning can waste time, build artificial AND limiting barriers to brainstorming, and can prompt negativity about “why” your “WHY” won’t work. You don’t need ANY of that right now!

Moving on ..

Don’t like to read books? Me neither. But, … get over it. You’re a professional, in a career transition, and you’ve got work to do. Three to consider: Sinek’s book mentioned above, Your Career Revolution (the book version), and Jeff Henderson ‘s book: What To Do Next. Just one takeaway from Jeff’s book is his compelling case of encouragement: You “do NOT have to have the end-game all figured out” in order to make steady progress, and end up in a good place post-transition. And for those of you wondering, yes: they’re bothshort books.

Back to Fred Haise …

 

Think about the risk and trepidation that Fred Haise endured by boarding a Saturn V rocket for his dream ride to reach the moon. Take courage from Fred’s experience, and know that …

… even if you don’t succeed with your original vision, there can be a wonderful adventure of great rewards along the way!

Maybe THIS is the time for YOU to go from (UN)Employment to Empowerment!

Paradigm Shift: What if YOU called the shots in your career? Is Career OWNERSHIP for YOU?

 

Are YOU Downsized FRED? If so, you’re NOT alone! There ARE practical and specific things you can do to leverage your temporary status for a great future!

Bottom Line: You owe it to yourself to see what career possibilities are out there for you! More than a “new job”, a fresh (ad)venture may be exactly what you need!

To your success!

Julian Reid

#Downsized #JobSearch #ExecutiveSearch #StartUps #SmallBusiness #Entrepreneurship #Franchising #CareerChange #CareerTransition #retirement

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