The 4 Pillars of Job Security
You need all four.
Job security doesn't actually exist, it's a spectrum.
<- - less security- - - - - - - - - - - - - - - - - -more security - ->
You should strive to be on the more-secure side of the spectrum.
You'll never get full security, but you can get a little more than you have now.
You do it by building the 4 Pillars of Job Security.
Pillar 1: Career Specialization
Step one is to pick a specialization for our career.
Most of us have this on lock because you automatically specialize as soon as you get a job. My specialization is Analytics, but yours could be Data Science, Marketing, Sales, Product Management, etc. The vertical doesn't matter as much as choosing one and staying in it long enough to build expertise.
If you hop to a different industry every year, you don't give yourself the time to build a baseline of knowledge, skills, and expertise.
Once you specialize in an area, it's time to generalize.
Pillar 2: Skill Generalization
After you have a baseline of technical competency, switch your focus to "soft" skills.
Skills like: leadership, project management, stakeholder management, conflict resolution, verbal communication, written communication, etc.
These skills take you to a new level of job security because they're transferrable. You can apply them to any job, domain, or industry, and when you get good at these skills, you'll feel comfortable pivoting to roles in different industries.
Data Scientists build machine learning models. Product Managers don't. Each job requires different technical skills, but both benefit from strong stakeholder management and the ability to manage complex projects.
The general skills make you valuable in the broader job market.
Pillar 3: Online Presence
This is where most people stop, and it's a mistake.
Job security is about increasing your surface area of luck and being able to bounce back after a layoff. That means we need to do everything possible to increase that surface area. One way is to build an online presence or "personal brand".
The easiest way to do this is to be active on LinkedIn. Write posts, comment on posts, send connection requests, and interact with people in the DMs. You'll build connections that could help you in the future.
People skip this step because there's no immediate return on investment. You won't automatically get a promotion or raise by building your online presence. You may not see a return for years, but those years will build your reputation.
"Dig the well before you're thirsty."
Pillar 4: Additional Income Streams
The holy grail of job security: the ability to make your own money.
When you only get paid from one employer, there's risk that they won't want to pay you anymore. Professionals that make their own money reduce their reliance on the employer. You can build a bigger safety net and have more control over what you do.
I'm not an expect on this step yet, but my goal is to combine the three pillars above to generate new income streams.
I'm building my experience in Analytics while focusing on leadership skills to be employable in the standard job market. I'm using my skills and experience to build my online presence and reputation. And I'm using my online presence to make my own money.
I've had coaching clients and plan to expand that in different ways. I'm not done and still have work to do, but I'm on the right path, the path to more job security.
It's a path you can be on too.
What's stopping you?