How does the Banking & Finance Crisis affect your Career?
YOUR ACTIONS FOR YOUR CAREER - INSURANCE THAT YOU WILL NEED
Wow… the hits keep on coming for an industry that I used to be so proud to be part of. I loved my corporate roles in Banking & Finance and it used to be part of my career highlights and something I’d showcase proudly. Now…unfortunately I don’t.
I’ve had company brand and ‘bad’ industry reputation and company cultures impact my career. Despite my own and my teams award winning work and results, it devalued everything. We had poured our hearts, minds and souls into our work and the company. The hours and effort had been huge and the value of it all plummeted, big time. I was trying to get a job in the Global Financial Crisis, with my last industry sector being banking…enough said. I have experienced the brand and career damage professionally and personally. I relate to where those in the Banking and Finance industry are at.
We are seeing major destruction of value in some of our largest businesses and employers in Australia. With headlines such as:
- ‘Roast them on a spit’
- ‘Culture of careless disregard for customers, clients and corporate regulators are signs of a sector in need of rescue from itself’
- ‘Bad culture – like instituting incentive schemes that reward fraud and dishonesty, or lying to a regulator’
- ‘Banking encourages cheating’
- The problems throughout the sector are ‘systematic and unconscionable’
These were once supposedly the safe places to go for our financial stability, security, trust and great corporate careers.
The Banking & Finance Crisis affects your Career (and all of us unfortunately).
The impact is about to get even more personal. We’ve seen the impact on the careers of Board members and CEO’s and it’s about to hit the next levels down - Senior and Middle Management - the Directors, Heads of, Senior Managers and Managers. They have been in a business in a time of major destruction of value which also means a major destruction of their personal brand reputation and value.
The ‘Who do you work for?’ question at the function or BBQ is even more uncomfortable. Even if you skip to avoid the company name, then the Banking and Finance industry will spark a whole catchup’s worth of conversation that affects you.
The reputation of the company you work for impacts you. A strong, valued company reputation increases your value and a weak, devalued company reputation reduces your value. Simple as that. The reputation damage has already impacted you. Recruiters and headhunters already find it more difficult to ‘sell’ you into a new role.
If you are not in the Banking and Finance industry, sadly this crisis it’s still going to impact you. The mass redundancies that were already planned are going occur and it is expected the numbers will increase now. We will have thousands of executives, directors, managers looking for new jobs and new careers. As we know, the employment rate is very sensitive to both supply and demand. We will have more supply of senior executive and middle managers and not enough jobs. That means it’s about to get a whole lot tougher and much more competitive to get your new job in whatever field.
SO HOW CAN YOU TAKE CONTROL OF YOUR PERSONAL PROFESSIONAL BRAND VALUE & CAREER?
1 – Don’t take ‘I’ll wait till it blows over’ approach – be proactive about insuring your career. Don’t conform to the ‘widespread complacency’. It’s not going to blow over. The impact on your career won’t. It’s on your CV for your lifetime. Your LinkedIn. All your colleagues and the market know you work (and worked) there. For some it’s the majority of their career.
2 – Take stock of your Personal Professional Brand and how it is helping you achieve your career goals. How was it valued a year ago? How is it valued now? It’s reality - those with banking and finance in their career, and particularly organisations involved in the Banking Royal Commission, will now find it harder to get the job, promotion and/or career moves they wanted.
3 – What is your answer to ‘Were you involved in the scandal?’ ‘What did you do about the culture that was prevalent?’, ‘How did you live the values the company said it has?’, ‘Why did you stay?’
4 – Check in & Build your Career Plan - does your career path feel authentic and aligned for you? What is your career plan for ‘what’s next?’ and beyond?
5 - Become a Corporate Creator – Join the movement for Positive Change
I know it is difficult to change in corporate organisations and sometimes it can feel as if you are alone in making change.
I care about the Banking and Finance industry. I want to love it again. I am fortunate to work with positive leaders of change in the industry but we need many, many more.
Over a year ago, I founded the Founders + Creators movement, whereby corporate professionals and business owners come together, connect, have authentic, real conversations and make real change. The entrepreneurs learn from the corporates and vice versa and become intrapreneurs for innovation, and change.
They Create. They Innovate. They Collaborate. They build, transform and accelerate. They Empower not Overpower. They are Smart, Strong + Supportive. They want more. They want to make their highest impact + to be of their highest value. They want to unlock their purpose + potential, amplify their impact + superpower their careers even further.
Let’s step up to have the real conversations and into your unique, valuable power in career and business. It’s not easy but it’s doable. We can do this. Join us. Let’s create corporates and careers that we are all proud of.
You need to invest and to do the work now if you want your purpose to align with your career and to maximise its value.
You need career insurance and you need to get it now.
What will you do to insure and advance your career?
I invite you to join us to Found + Create positive change and your positive career!
Click here to join us for my special Corporate Creators Cocktails with Kellie Vivid event in Sydney on 29 May.
Kellie Tomney is a career mentor, speaker and facilitator. She is a Thought Leader in:
* Superpowering your career
* Superpowering your business
* Founding + Creating the business and career you want
* Creating + living your superpowered personal brand
* Unlocking your purpose and amplifying your impact
She works with corporate executives, entrepreneurs, and small business owners. She helps people discover their unique superpowers, builds their confidence, impact and value! She works with you to create the career or business plan and strategies to found + create your successful + sustainable career and business whilst being true to yourself.
Kellie is an award winning corporate executive who founded her own business 8 + years ago. She founded STAND OUT, Founders + Creators™ and Founding Females™ methodologies. She thrives in sharing the lived professional + personal strategies for creating the superpowered career and business you love. Read more and to work together here: www.kellietomney.com and contact me at firstname.lastname@example.org.