Managing a career in a tough economy
By Egberto Fernandez, Venezuela Career Advisor

The Venezuelan economy without any doubt has been disrupted beyond precedent. Poverty and unemployment have increased to reach the highest rate in the region. It is not easy to envision recovery in the short term. High unemployment and underemployment will remain constant for the foreseeable future. Many talented young professionals are migrating to other latitudes looking for better opportunities. In the country's current job market, it can take more than 12 months to find a decent job. For job seekers over age 50, an employment search can easily take more than two years. 

Is it possible to manage a career and be successful in such a difficult economy?

The following scenarios provide an idea of how people are coping with the current difficulties present in the Venezuelan job market:

• Scenario 1:  Nearly 60 percent of the unemployed population makes a living through the "informal" economy (namely street vending), using their creativity and talents where possible, and waiting for the situation to improve 
• Scenario 2: A minority of employed professionals have been able to remain in their areas of specialization. They are survivors of cutback programs, always on the lookout for better opportunities in and outside their companies.
• Scenario 3:  Others have been forced to rediscover themselves and engage in new career paths.

The following are cases exemplifying how people in the country have undertaken the challenge of restating their professional future. These situations and coping responses can probably be transferred to other countries in the region facing similar circumstances.

 
CASE STUDY: PEDRO

Trying hard to build an executive career in information technology

After 16 years of a successful management career in an important public services private company, Pedro switched to an executive position in a mass consumption enterprise. Despite an impressive record of achievements, and with no explanations given, he was fired. Today, after an 11-month search, he has managed to find a job as project manager in an IT outsourcing company. Although he would prefer working in a larger company that could grant him more "security," he has learned from the experience how to cope with difficult changes.

For Pedro, career success now means having the flexibility to switch from one job to another in the shortest time possible. What are the keys for success?

• Know your strengths. Have clear goals and focus on what you want

• Market yourself like a brand. Develop the ability for interpersonal relationships and the mind of an entrepreneur.
• Be patient, persevering and disciplined. Consider job searching as a time-consuming life project.    
• Be open to new challenges. Explore.
• Seek professional assistance, such as career coaching.

His recommendation: "View yourself as a change factor wherever you are."

Career coaching for Pedro is a very important service. It provided someone to listen to his concerns, make suggestions and help form an action plan focused on results.

CASE STUDY:  RICARDO

From corporate communications executive, early retired, to freelance consultant

With a 15-year career in the field of corporate communications, and having reached an executive position in the largest corporation in the country, Ricardo believed that companies supported individual development; that talent was taken into account, and that effort was rewarded. After an early retirement, Ricardo underwent a career transition process that changed his opinion. He sees his new career as an opportunity to use his talents and strengths more freely by taking control and planning concrete actions for marketing himself and his talents; create a name, a sort of brand that stands up for itself.

For Ricardo, a successful career means personal satisfaction, congruency between personal goals, work and results. It means assuming greater responsibilities, being recognized and earning an income high enough to gain security and a good quality of life. What are the keys for success?

• Research the market. Define a niche. Specify a service proposal.

• Update your knowledge and skills, learn and be open to change.
• Rethink your abilities, and redefine what you've got to offer in your area.

• Develop a network of contacts.
• Develop the motivation for hard work.
• Have clarity of mind to analyze and weigh your losses.

His recommendation:  "Opportunity is the privilege for those ready to take it."

Career coaching for Ricardo is of great importance. Professional career coaches help uncover dreams and talents, as well as traps. The coach is the objective adviser, helping to develop the possibility of a vision, or the one who will let you see the obvious.

CASE STUDY: JOSE GREGORIO

Trying to grow and develop in the corporate world

José Gregorio is a young petroleum engineer with a MBA degree. After four job changes and a short unemployment period, he became project coordinator for a large mass consumption company. These changes have influenced the way he perceives his career. He believes changes are important, but should be planned. He feels his career is important within the context of his life: it provides a sense of purpose and direction, and not just the means to pay the bills.

José Gregorio defines success as the ability to remain employed, preferably within a modern company. What are the keys for success?

• Be on the look-out for opportunities.

• Learn and prepare yourself.
• Weigh your strengths and weaknesses to make your offer to the business world.

His recommendation:  "Nowadays one has got to be versatile. Regardless of one's studies, one has to remain open to different possibilities. The world in which the carpenter only works with wood is over."

Having a professional coach during the process is very valuable. They can help clarify and plan objectives.

CASE STUDY: CAROL

Flexibility is key

Carol is an industrial psychologist who lost her job after a steady career with a consulting company. She was so fully identified with her career and with certain professional stereotypes that her self-esteem began to suffer impacting other areas in her life.  She lost her sense of direction, felt frustrated and failed. Now she believes a career is not a straight smooth line, nor a race against the clock. It's not something developed to grow vertically in an organization, but also to do those things that give pleasure within the framework of a life plan were pay is not the most important consideration.

For Carol, a successful career is a constant search for happiness. What are the keys for success?

• Identify and evaluate your talents, values and interests, and build your career upon that evaluation.
• Adopt an entrepreneurial frame of mind. Now you're on your own. Don't compete with others but with yourself.
• Be flexible and have a positive attitude.
• Acknowledge that there's always an opportunity to do something.

Her recommendation: "It's never late for career changes. Don't be afraid of trespassing the limits of comfort. Don't be afraid of doing something new."

Carol believes career coaching can provide the tools to help move ahead. The most important thing is to want to improve.

What can be concluded from this situation?

People have learned how to redefine expectations. They are not just coping; they have developed a natural talent to become more entrepreneurial, seeking challenges which might encompass their areas of interest and skills.
 

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