Have you heard the latest work catchphrase ‘career cushioning’ and wondered what it actually means? Career cushioning is a growing trend being driven by cost of living concerns. As employees fear what could happen if they were to lose their jobs, many are finding ways to prepare for worst-case scenarios. But what does career cushioning actually look like, and how does it impact employers and employees?
We take you through what career cushioning is, and why it’s a method more and more of us will adopt.
What is ‘career cushioning’?
You might be familiar with the term cushioning from a very different realm, dating. In the world of dating someone cushions themselves by exploring other romantic avenues (often in an emotional rather than physical sense) while they’re in a long-term relationship. It’s a way of seeing if the grass could be greener in another relationship, getting to know what the current dating pool is like, and potentially securing another partner before a breakup.
Career cushioning has the same principles, without the emotional impact on others. It’s the practice of creating a backup plan for potential unemployment and it’s a growing trend during economic uncertainty. Essentially it’s a way of creating your own insurance policy, in case the worst happens. You’ll explore whether the grass could be greener in another job, get to know what the current job pool is like, and potentially secure a new role before your current one goes sideways.
How are employees career cushioning?
Forward-thinking employees are adopting a range of career cushioning techniques.
1. Keep your network working for you. Whether it’s online or offline, networking can be an amazing way of securing a job. Keep your hand in while you’re employed by regularly posting on professional social networks such as LinkedIn, and actually attending events in real life or online.
If there are people around you who you trust, ask them to keep their eyes and ears to the ground, so that your name is being mentioned in rooms filled with opportunities. At the very least, this could lead to a coffee with a prospective employer or even a recruiter who can keep you informed regarding the current jobs market in your industry.
2. Get yourself job hunt ready. Ask yourself, when was the last time you really looked at your resume? Sorting out your resume and cover letter is hard work, but don’t leave it until you’re out of a job as that’s the time you’ll likely feel most demotivated. Instead, book an annual resume spring clean, adding in relevant experience and projects when they’re top of mind.
3. Assess your skill set. Just because your current skills have led you into your current career and job title, doesn’t necessarily mean that there aren’t other avenues to explore. Why not give our ValueMyResume tool a go? It will tell you where you sit in the current market, and how much you should be expecting to earn. Plus, it could be the prompt you need to kickstart your job hunt.
4. Keep your finger on the pulse. If you’ve been in your current role for a long time, industry trends could be passing you by. Put yourself out there, read industry magazines and network with your peers. By knowing the latest news, you’ll have plenty to talk about in an interview. The same goes for the jobs market. Keep an eye on trends, know if jobs like yours are in demand or not and make sure there are no unexpected surprises.
5. Spend time upskilling. Have a career in mind but know that you’re missing that vital qualification on your resume? Go back to school, attend seminars, or take some free courses online. There are loads of ways to expand your current skill set. What’s more, it might be something your current employer can support financially.
6. Be a painkiller and not a multivitamin. If you’re happy in the job you’re in, but you’re worried about how the cost of living could affect staffing, spend time making yourself indispensable. A multivitamin is someone that’s great being there, they add value, but if you forget to take them it’s not going to have a huge impact. So if you lose a multivitamin, the company isn’t going to fail. A painkiller though is someone who is needed when the shi*t hits the fan.
Showcase how great you are, say yes to new challenges, and demonstrate how your work is solving things for the company. If you can show exactly how much you’re making the business right now, that’s a big plus!
7. Start looking for more stable employment. If your current job is under threat or words like layoffs or cutbacks have been mentioned, then now might be a good time to start your job hunt.
However, make sure your next move is a sensible one. If your industry is experiencing cutbacks and job uncertainty then moving to another role in the same industry may come with risks, especially as the rule is often last one in, first one out. Look for industries that are more stable and are hiring in large numbers. They should be able to provide better longevity.
At interview, don’t shy away from asking about current performance, growth plans, and how secure the role is long-term.
8. Start a side hustle. Think the corporate grind may not be for you? Turn your passion into an income. Perhaps you can use the skills you use at work day-to-day to take on some additional clients (make sure you’re not breaching any non-competes) or do something completely different.
Trying a side hustle when you’re working full-time can be exhausting, but it can help you build a financial buffer while also testing the water to see if it’s something you can do full-time.
9. Build a passive income. A bit different from a side hustle, these methods of building income tend to be less hands-on. It could be something as simple as filling out surveys, taking part in market research, or even doing matched betting.
These are all ways of building a slow and steady income, to boost your savings in case the worst happens.
Where has career cushioning come from?
The uncertain economy has people on edge. Costs are going up faster than wages, and not every business is guaranteed to survive.
Career cushioning is a way of literally cushioning the blow should the worst happen. People are looking for more stable jobs, ensuring they have some savings in place, or just making sure they have everything in order.
With some companies, like Twitter and Google, laying off thousands of jobs in one go, it’s more important than ever to have a plan B.
What are the perks?
Stability and security are the main perks. Whether that’s financial or simply knowing that there are other jobs to go to or other avenues to explore.
With so much uncertainty in the last few years due to the Covid-19 pandemic, employees want to make sure their jobs are safe, even if that means switching roles.
Things to be aware of
Career cushioning isn’t always going to reflect well on you. If you’re using LinkedIn to advertise your services instead of those of your current employer, your employer isn’t going to appreciate it. The same goes for if you’re no longer succeeding at work because you’re overdoing it at your side hustle. The key thing is balance.
Spend time working out how much energy you have to expend, and which of the above career cushioning strategies suits you in the here and now – don’t do them all! If your job currently feels stable, then just focus on keeping your resume and professional networks up-to-date, rather than investing time and effort in job seeking. If things are beginning to look rocky, make sure you plan the time in for career cushioning and building some savings.
How should employers react to career cushioning?
Some employers argue that career cushioning is unethical. When you pay an employee to work for you full-time, they should be dedicating their time and energy to the role.
However, unless an employer can guarantee long-term job stability, it’s unfair to expect employees to not be realistic in the current economic climate. Plus, if an employee is contracted for 40 hours of work a week, what they do in the other 128 hours a week is their business.
If you’re an employer who is confident that you can ride the wave of the current challenges, it’s important to communicate this to employees. Demonstrate your plans for the next 12, 24, and even 36 months and how they should fit into this. Spend time focusing on employee retention, communicate how pay rates might be expected to increase, and what you’re expecting from your employees in return.
If these things are not certain, open communication is still vitally important. Think about what notice periods might look like, how much financial security you have in the here and now based on current operational costs, and lay out what this could mean for employees.
If you’re aware that employees are looking elsewhere, it’s important not to take this personally, but instead provide a supportive environment that they won’t want to leave. Or if financially they must leave, they at least want to come back.
With the current uncertainty, career cushioning is something we think is going to stick around and employers and employees should be open to embracing it.
If you’re wanting to start your research phase, use Adzuna to find your dream role. Want even more insights? Our ValueMyResume tool can help you find out how much you should be earning.
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