FT.com | Dear Lucy | ‘What should I do to avoid being made redundant?’

June 12, 2008

‘What should I do to avoid being made redundant?’

I work for a bank that is going through a period of heavy redundancies. From the cuts made so far it seems that many of the casualties have not been chosen on the basis of ability or cost, but as a result of political horse-trading. I have a three-year record with this bank and am a solid performer, not a star. Losing my job now would be bad timing, to put it mildly – I have a young child, a pregnant wife and an eye-watering mortgage. How can I make sure the axe does not fall on me? Should I attempt to play the sympathy vote with my boss? Or is it better to embark on a shameless bout of self-promotion at the expense of my colleagues?
Analyst, male, 30

Lucy’s Answer

I’m surprised you’ve lasted as well as you have in the City, given the quaintly outdated way in which you describe yourself.

The language of most companies, especially banks, is now based on the notion that everyone is outstanding, even the tea lady. So if you go about saying that you are merely “solid” you are begging to be fired.

You also need to drop the disapproving talk of “shameless self-promotion” and “political horse- trading”, as this is how it works. It is a market and you need to sell yourself, not just when job cuts are in the offing, but all the time.

There are two ways of playing the political game. Which one is right for you depends on your personality. Either you can take the boasting route - that is, every time you do anything good you shove it under your boss’s nostrils. Or you take the sucking-up route and make yourself charming by complimenting him and generally being chummy.

The trouble with both approaches is that they require some natural flair - especially the second. Badly done, sucking up can end up alienating everyone.

I also fear it may be too late to start practising either, both because if you suddenly start behaving differently everyone will think it odd, and because your boss will probably have made his decision already.

If I were you I would do practical things like renegotiate the mortgage, get a lodger and send out your CV. And maybe start wondering if this rough, up-and-down world is really the one you want to be in for ever.

Don’t even think about playing the sympathy card. Talk of your unborn child will make no difference to your boss - it will only make him want to end the interview as soon as possible.

June 12th, 2008 in Uncategorised | Permalink

38 Responses to “‘What should I do to avoid being made redundant?’”

Comments

Find a vocation and join the catholic church.
Posted by: Dave, male, LIFFE local | June 12th, 2008 at 10:52 am | Report this comment
Like any sensible bank you have put money aside for the rainy day. Right!! If they are going to let you go, the decision has already been made in contingency reports months ago. Try and think positive. Are as good as you think you are? If so, whats the problem. If you lose your job you will be hired back in time but at a higher salary. You also get a nice pay off. Thats the beauty and the beast of the city.
Posted by: charles | June 12th, 2008 at 12:17 pm | Report this comment
In the direct future, maximize quantifiable performance and make yourself too valuable to let go. Should the unfortunate occur, you could earn a few grand by selling your kids on the black market.
Posted by: Paul | June 12th, 2008 at 2:42 pm | Report this comment
It is already to late for this round of cuts, the decision was made sometime ago. However, there will be a further 1 or 2 rounds over the next 2 years so, if you do survive, you can start positioning yourself for those now.

In my experience you can either play a political game, which if you are not already doing so would make it all a bit obvious and mark you out for the next round. Or make yourself indispensable. Try focusing on those jobs/clients that everyone hates and become the specialist, no one would want rid of you then.

Alternatively you can go on the attack. Its a risky play, but if you take your boss aside and quietly ask to take voluntary redundancy the likelihood is he won’t pick you, as he will assume you’ve got a job offer elsewhere and would be loathed to handover a 6 month tax free redundancy payment if you are already out the door.
Posted by: Mr T, Director, London | June 12th, 2008 at 5:58 pm | Report this comment
In Sweden they say “there is no such thing as bad weather, but some people do wear bad clothes” or something of the kind. Life is tough, learn to live with it.
You apparently have a family that gives you joy, enjoy it as much as you can. Maybe you’ll need to downsize a bit at one point but hey! that’s how the world goes. Up, down, up, down… and out in the end.
Enjoy the ride!
Posted by: coco, 36, male, COO | June 12th, 2008 at 6:25 pm | Report this comment
Murphy’s Law dictates that the worst will usually happen at the most inconvenient time but don’t, whatever you do, attempt to play the sympathy card with your boss. She/he will not thank you for it and you will lose his and your own self respect in doing so. Your heart may not exactly bleed for your boss at the moment but deciding who to make redundant is still a thankless and unpleasant task.

Make sure that your performance at work is watertight and absolutely beyond criticism of any sort, play the game of self-promotion (you can do this without stabbing your colleagues in the back), sit tight and hope for the best.

As an insurance policy in case the axe does fall in your direction, discreetly get your CV out to a couple of reputable agencies right now, before the next round of redundancies is announced.

Good luck with the job and the impending new arrival.
Posted by: GLH, female, 30, manager | June 13th, 2008 at 9:22 am | Report this comment
I’d suggest that you plan for the worst - consider taking some financial advice and see if there are any insurances you can take or changes to your financial situation (possibly switch mortgae to an interst only basis/increase the repayment term etc) - try www.unbiased.co.uk

If you were to be made redundant, look for the positive - you will be able to spend time with the newborn and other family at a special time.

it could also be a good time to do some more industry studying.
Posted by: Paul, 39, HR Manager | June 13th, 2008 at 12:23 pm | Report this comment
Even if the sky falls, take solace from the fact that you’re only 30. Something new will crop up.
Posted by: Kaiser | June 13th, 2008 at 6:27 pm | Report this comment
Self promotion is the key. As Mr. T (above) pointed out you need to worry about the next round of cuts. If you are not willing to point out your own strong points, no body else will. Between now and then you need to speak up and take “authorship” of what you do.
Posted by: Gary H, 50, Male, Senior Manager, US | June 13th, 2008 at 8:40 pm | Report this comment
Horse trading. What is in the mind of horses for sale? How to escape? To accept with resignation being traded or culled? Free grass lands for wild horses are far away from the City, but one can only try to escape as long as one can run fast, and far enough. Male 30, in to-day’s city jobs ceasing to be a vegetarian animal is not enough, one must become a cannibal.Are you sure your child will appreciate the latter option? Is it definitely impossible you make your bank redundant? Good luck.
paolo - Milan
Posted by: paolo - milan | June 15th, 2008 at 12:02 pm | Report this comment
You are an analyst; understanding risk is probably part of your job. Much like it is the aim of banks, indeed most investors, to diversify idiosyncratic risk with diversification, dispersion ect. so you must decrease your risk. I agree with GLH; playing the sympathy card is not an option. In order to decrease the risk of getting axed, there are many things you can do. 1. work harder 2. work longer 3. work smarter. In addition to this, send out your CV right away; the decision to let you go would of been already made by now and there is possibly nothing you can do. Point being, dont just have plan A. having current job. Make yourself a plan B. C. D. E. ect. And whatever you do, take it easy, stress and distress never solved anything. Take a deep breath and start getting creative.

Johan, 21, male, equity analyst
Posted by: Johan | June 16th, 2008 at 8:41 am | Report this comment
“I have a young child, a pregnant wife and an eye-watering mortgage.”

Forget it. You bought into the dream and now you’re finding it’s a nightmare. If it’s any consolation, perhaps your bosses (if they’re male) will have pity on you as they have no doubt chained themselves to similar slavery in their own misguided lives.
Posted by: Trish | June 16th, 2008 at 8:56 am | Report this comment
If it happens, embrace it and exploit it. I was made redundant twice, once at 29 and once at 39 (I’m not 45); in each case a forced change took me in an interesting new direction that I would not otherwise have taken. I’ve now ended up doing the dream job - freelance motoring journalist - that the sixteen year old me yearned for with a passion before teachers, parents and others nudged me towards the orthodox path taken by so many other FT readers - Oxbridge entrance, MBA, job in consulting and so on.

Nothing wrong with all that but now I work as much as I like, when I like and where I like. If I’d continued on my initial career trajectory, I’d have earned a lot more cash, but the way things have turned out, I’ve achieved something a lot more valuable. I’ve got a life. Remember - wage slavery is still wage slavery even if the wage is generous.
Posted by: David | June 16th, 2008 at 10:46 am | Report this comment
1. Get your bank/building soc. to allow you just pay the interest on your mortgage from now on.
2. Accumulate as much ready capital as you can so that, if the worst happens, you’ll ideally be able to manage for about 1 year or so. Access to ready cash is always the best insurance.
3. Try rent your house/flat so that it pays for the interest and hopefully puts some cash in your pocket - not easy I know but if it’s a good property then a lower rent will get it let.
4. Rent another much cheaper place to keep you going - it may involve a commute but ……
5. I agree, get your CV out and think about other jobs - “there’s always more than one way to skin a cat”.
good luck!
Posted by: Gerard, 47 male, analyst | June 16th, 2008 at 1:42 pm | Report this comment
You cannot influence whether you will lose your job. So don’t try.

Even if you keep your job, something valuable has been lost. You have been taken off guard by your employer - you thought you had more security than you do. Perhaps you have been surprised by the arbitrary approach.

Sadly, the issue is whether you want a high-risk, high-reward role which pays for an eye-watering mortgage, but costs you constant fear.

Spend your effort on contingency plans.
Posted by: Ian Slater | June 16th, 2008 at 1:54 pm | Report this comment
Hi, sorry to hear that.

I personally recommend you none of the above.

Go and work in Asia. They are booming and the bonus and job security are there. Take your pick from Dubai to Australia, Singapore, Hong Kong or Shanghai. I am sure that there is always something better out there waiting for you.
Posted by: Kenneth, 34, Male and Auditor | June 16th, 2008 at 3:20 pm | Report this comment
I recently did some web research using academic articles on success and personality, and ran across one study which concluded that associating and complimenting managers was a more effective strategy for advancement than either self-promotion, and even more strongly, confrontation.
Posted by: james | June 16th, 2008 at 4:27 pm | Report this comment
The best strategy is not laying low and making yourself scarce … that only reinforces a lack of value to the company. And while you can’t “fire-proof” any job, these four techniques can improve your chances of remaining on the payroll.

Be Visible…

Make sure you’re working on what’s important to your employer. If you’re not, figure out how to … be up front and vocal about it. It’s a lot harder to get rid of someone whose work directly contributes to the ongoing success of the company than it is to get rid of “What’s his name down the hall?”

Impress the Right People…

In spite of what they tell you, not everyone is equal. Spend some time drawing relationship maps of the key players in your universe. Then dedicate the effort needed to ensure you’re on their radar screen. Get them to understand your value and appreciate your efforts. It’s a fact … life is not always fair. It’s easier to fire someone you barely know than someone whom you’ve built a solid relationship with.

Manage your Boss…

In times of layoffs, most bosses are told what percentage of headcount they need to reduce. No matter what you think of them, recognize that it is 100% your responsibility to effectively manage the relationship with your boss so that they see you as a “keeper.”

Know How Others View you…

Feedback, feedback, feedback! Get it, encourage it and live by it. No expression in corporate America holds more validity than perception equals reality. What others think of you often dictates not only your level of success, but the strength of your staying power.

So if layoffs are looming, keep your career in focus … increase your contributions … ensure your boss is happy … expand your visibility. And when the axe man cometh, you just might keep your head off the chopping block.

Michael Simon
Executive Career Coach
Posted by: Michael Simon | June 16th, 2008 at 10:10 pm | Report this comment
Probably too late to start, but use this as a practice run. Manage upwards effectively, be seen to be associated with solutions and success, not problems. No-one is indespensible, but senior management needs to understand where you add value. If they do not know how you contribute to the organisation then they will not see any cost to relieving your post.
Remember, unless you are really unlucky, the vast majority of staff will stay.
BTW, I’m not sure you should bring the wife, child and mortgage into this. This is between you and the bank. Thinking the worst, you loose your job and don’t find another and then can’t pay your mortgage and sell your house and have zillions of negative equity and can’t pay thay off and go bankrupt… then you maybe FSA blackmarked but your wife will still love you and your small child will not care. A real man will rebuild a future for his family from whatever crevass he falls into.
Posted by: Michael | June 17th, 2008 at 8:18 am | Report this comment
We all have to face this risk at some point in our lives. If we are going to wait until we have a job-for-life before we start a family and a mortgage, no one will get anything done. If I were you, I will start looking for another job discreetly now. Who knows, the experience may make you realise how marketable you are after all. You’re a banker, it can’t be that difficult finding another good job.
Posted by: Andrian, Male, 29, Engineer | June 17th, 2008 at 8:37 am | Report this comment
In various banking CEO/MD roles over the past 10 years or so, I have made a lot of people redundant. I used to worry that they would never be able to find alternative employment, particularly those who had long service records, but I cannot think of one who failed to find another job, even when times were tough. In many cases they found better paid and more fulfilling work. It’s easy to say, I know, when you feel the weight of expectation in terms of supporting your young family, but stay positive, do the best job you can for now, be philosophical if the worst happens and immediately put yourself about in the market. You will find something. One final comment: under no circumstances play the sympathy card; it will not work.
Posted by: Mike Duval, General Manager, Male, 54yo | June 17th, 2008 at 11:18 am | Report this comment
you might be one of my staff. if you are who I think you are, you are already toast. its a difficult decision on pure merit but it is often made easy by attitude. if you make my job easy - get on with it, support intiatives, don’t moan - you will survive. it amazes me how many people continue to be irritating even when it is clear these decisions are being made or are bound to be made in the near future.
Posted by: OJ@home | June 17th, 2008 at 11:51 am | Report this comment
“IN order to make it clear how, as I believe, natural selection acts, I must beg permission to give one or two imaginary illustrations. Let us take the case of a wolf, which preys on various animals, securing some by craft, some by strength, and some by fleetness; and let us suppose that the fleetest prey, a deer for instance, had from any change in the country increased in numbers, or that other prey had decreased in numbers, during that season of the year when the wolf was hardest pressed for food. Under such circumstances the swiftest and slimmest wolves would have the best chance of surviving and so be preserved or selected,—provided always that they retained strength to master their prey at this or some other period of the year, when they were compelled to prey on other animals. I can see no more reason to doubt that this would be the result, than that man should be able to improve the fleetness of his greyhounds by careful and methodical selection, or by that kind of unconscious selection which follows from each man trying to keep the best dogs without any thought of modifying the breed.”

These words were written by one Charles Darwin around 150 years back and fully apply in today’s corporate world. So do not have any illusions, only the fittest survive and you need to do everything you can to be in that lot.
Posted by: Out of the box, 44, Male | June 17th, 2008 at 11:55 am | Report this comment
There is much good advice in the comments. Playing the sympathy card will not work because when you play it you are saying that you have managed your personal finances poorly. It does not inspire confidence.

Similarly for shameless self-promotion. When people self-promote it usually means that their work is not good enough to speak for itself. Also, if you self-promote at the expense of your colleagues you will be undermining group cohesion. At that point it will serve the bank’s best interest to fire you you for creating dissension in the office.

The fact that you see things in terms of psychological manipulation is probably the reason you are not a star.
Posted by: Stuart Schneiderman | June 17th, 2008 at 2:37 pm | Report this comment
Not sure I agree fully with the previous post.

I also work for a bank and ’shameless self-promotion at the expense of colleagues’ often appears to be the quickest and most effective route to bigger and better things.

Group cohesion? Genuinely, I have yet to experience such a thing at work, as we are all very much in direct competition with each other every day. There is plenty of superficial back-slapping and mutual appreciation, for sure, although this is often forgotten in the clamour of annual reviews…

This is corporate life as we know it, and only to be expected, with the limited promotion opportunities, budgets, bonuses, etc, to go round.

My advice? Act as if you’re bothered at the prospect of redundancy as, even if people don’t consider you for it now, if you behave like you fear you’re next out the door, it might trigger some unfavourable thinking about your future prospects.

Embrace the potential life-change of redundancy, if it happens. As a previous poster said, life-long wage slavery is not to be relished.

Finally - eye-watering mortgage? Silly boy. A home is somewhere to live, not an investment vehicle. High potential returns = higher risk. Fairly basic and, after three years with this bank, you should maybe have worked that out by now!
Posted by: M | June 17th, 2008 at 3:25 pm | Report this comment
Your insight is telling you that your job is not secure. You need to make a plan B, better still, a plan B to generate an even better income. Do not ever give your boss the power to ruin your wife and kids. How? When there is a will there is a way.
Posted by: Benjamin | June 17th, 2008 at 4:21 pm | Report this comment
If you have a decent education and you are intelligent (these two are mutually exclusive)plus you have some ability which industry or commerce values then learn to stand on your own two feet and not be a dependent employee. Get out on your own. Prove to yourself and to the world you really do have a marketable product or service. Hold your head up high.

David, 62 years old, self employed consultant since 1976 & started three totally different businesses in that time.
Posted by: David | June 17th, 2008 at 4:45 pm | Report this comment
Two options:

1) Become A Star

2) If ‘1′ is not possible; take the leap and go and work for yourself.

Ian
40
Consultant, AUthor, ‘Leap! Ditch Your Job, Start Your Own Business & Set Yourself Free’
Posted by: Ian Sanders | June 18th, 2008 at 9:23 am | Report this comment
stay positive.whatever happens.
always look on the bright side
look after your wife emotionally
look for opportunities
love your kid(s)
Posted by: richard | June 18th, 2008 at 11:30 am | Report this comment
Most important thing you have to do would be to talk about your wife.Tell him the status. You have to struggle with this hard difficulties. As you have been together with each other at a good days, you have to struggle together at a bad days. At this point, woman’s power is important. She will make you more comfort if she support you at this difficult point. You do not let this case to destruct your family.
On the other hand, you begin to talk to your close friends immediately for seeking a new job. Send your cv to human resources agencies as soon as possibele. May be, as a contengency plan, Find a new job whatever it is. Salary is not important. Let it be low than your last job.The aim is to create income per month. 1 is bigger than 0. Current job will be step.Then if you desire, continue to find another job at a higher salary.İt is tactical behaviour.
If possible, if you have an asset, sell it. Asset is not important than the peoples life. May be you are able to earn it 5 years later for example.
For the present, may be you have to loan money from your close friends.You do not try to get credit from bank.
Now continue to do your job. Put your mood and moral high. Do not forget, you will succeed together with your wife. And begin to find a new job.
Good lock.
Posted by: Cetin Ustaoglu, Executive Manager-Engineer, 45 yo | June 18th, 2008 at 1:45 pm | Report this comment
Mate,
I sympathise. You try to give your family everything and financial crisis may appears to put your objectives at serious risk. Now is the time to adapt to changing circumstances.
Do consider your employment options within your bank, within your industry, outside your industry, and outside your current country, as well as your living situation as suggested in previous posts.
Discuss your situation with your wife in detail, you may not want to worry her but honesty is important and a mutually agreed decision regarding your career, your finances and the options that you may want to pursue right now is important to maitain trust and support in your relationship when other things may not be working out so well.
In your dealings with superiors keep it on the money, everyone will have their own sob story.
Posted by: Alex Simpson | June 18th, 2008 at 4:57 pm | Report this comment
I recently was “chopped”. Even being connected, dedicating yourself to issues your manager deems important, thinking of yourself as “indispensible” are no guarantee that, in the end, it may not be your boss who makes the decision.

As an esteemed colleague of mine remarked, occasionally it’s just simply “your turn” to go.

This is a classic odds game, and although can not be predicted, it certainly can be planned for.

Points that have gotten me back on my feet, and a $10k increase in base salary.

1) Keep cash on hand to see you through the drought, (6 months of pay—take bank interest and this can double as a retirement contribution if it isn’t used)

2) Marketing yourself while you are employed will put a premium on your value, (which means, get yourself on a recruiter’s roster if there is even a whiff of layoff in the air.)

3) Continue to maintain a network of colleagues, inevitably this group is your sales force. (I network through work, but also through my master’s degree program.)

29, Male, Business Analyst
Posted by: 29, Male, Business Analyst | June 19th, 2008 at 1:08 am | Report this comment
Blow your own trumpet. There’s nothing shameful about self-promotion: it is a fundamental career skill. You worry that it would be at the expense of your colleagues, but if they cannot promote themselves that’s their problem. But you shouldn’t deliberately undermine them: that would be wrong (though not entirely without precedent).
Posted by: Manager, male, 35 | June 19th, 2008 at 9:01 am | Report this comment
Go on the attack. Take your boss aside and quietly ask to take voluntary redundancy. The likelihood is he won’t pick you, as he will assume you’ve got a job offer elsewhere and would be loath to hand over a six-month tax-free redundancy payment if you are already out of the door. It’s risky, but it might work.
Posted by: Director, male | June 19th, 2008 at 9:06 am | Report this comment
In banking roles over the past 10 years or so I have made a lot of people redundant. I used to worry that they would never find other employment, but I cannot think of one who failed to find another job, even when times were tough. It’s easy to say, when you feel the weight of expectation in terms of supporting your young family, but stay positive, do the best job you can for now, be philosophical if the worst happens and put yourself about in the market.
Posted by: Manager, male, 54 | June 19th, 2008 at 9:09 am | Report this comment
While LK’s advice (and others’ here) is probably right, I find it a mite depressing from an exploder of management tosh. Surely the greatest management tosh of all is that it’s not the manager’s job to work out who’s performing, it’s yours to ’sell yourself’. While you can just about swallow this in ’selling’ jobs, there are lots of others where this isn’t at all a reliable indicator of contribution or of potential. The trouble is, it’s self-perpetuating, since it never occurs to those who have advanced by self-promotion to use any other basis to choose their favourites. Those who consider themselves no more than ’solid performers’ may in fact be the safe, self-effacing types on which the organisation depends.

Perhaps this is ‘quaint and old-fashioned’. But then, LK has been dispensing ‘quaint and old-fashioned’ pretty successfully for some years now, such as on management-speak, and I agree with much of what she says. And perhaps a little more ‘quaint and old-fashioned’ in the banking world might have spared us the mess we’ve got into…

Public servant, bitter and twisted, male, 43
Posted by: Ben | June 19th, 2008 at 9:45 am | Report this comment
I fear that Lucy and her cohorts have not been stern enough with the 30-year-old bank analyst who asks what he must do to avoid becoming redundant. Lucy advises against his suggested options — pleading with his boss for sympathy, or enbarking on a campaign of self-promotion. She does wonder gently if he is really suited for a banking career, but neither she nor the volunteer advisers she has enlisted in his cause will burden the young man with the truth. In these perilous fiscal times, he, a banker, has managed to accumulate an “eye-watering” mortgage, and get the mother of his young child pregnant again. Clearly, this lad lacks the will, the wit and the drive to avoid getting the chop. He had best start now to look for a new line of professional endeavor.

Wes Pedersen
Mature
Male
Principal, Wes Pedersen Communications and Public Relations
4701 Willard Avenue
Suite 1007
Chevy Chase, MD 20815
301.718.9191
Posted by: Wes Pedersen | June 20th, 2008 at 4:10 pm | Report this comment
Ben writes: “Surely the greatest management tosh of all is that it’s not the manager’s job to work out who’s performing, it’s yours to ’sell yourself’.”

It is tosh, but our banker is not in a position to change it, so Lucy and the rest of us have to advise him what to do given the tosh.

I don’t much like it when people who work for me try to run an internal marketing campaign, but I like to think I can see through it. I also agree that seeing through it is part of my job.
Posted by: Male, 30 | June 20th, 2008 at 10:24 pm | Report this comment

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