As I began writing this article about career cushioning, I couldn't help but wonder… am I a career cushion-er?
I have a favor (thanks to CKTL Candle Company). But it technically only “counts” if I'm using that side hustle as a sense of security in case I lose my day job as HubSpot's marketing blog editor.
This is the concept of career cushioning – and there are a lot of people doing it in 2024.
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So, what exactly is career cushioning?
Career cushioning allows you to “soften the blow” if you lose your job unexpectedly. It's about being proactive and creating additional opportunities for yourself in the event of a layoff or sudden termination.
This might mean actively networking for potential job opportunities, keeping your professional assets up to date, or starting a business.
Think of it like, “Hey, if this job or career doesn't work out, I'm going to have a backup.”
And, in some cases, multiple.
Who is doing this?
Career cushioning is not specific to any one job field or profession. Given the rise in inflation and increase in layoffs across industries, professionals at all levels are concerned about job security.
And while the concept of career cushioning isn't exactly new, it's definitely trending this year.
Why is carrier cushioning popular right now?
I mentioned inflation and layoffs as the primary reasons why people are keeping their career options open.
Let's take a look at some statistics:
- In January 2024, nearly 3 million people in the US may have lost their jobs or made temporary work
- More than 42,000 employees have been laid off so far in 2024, including more than 160 tech companies.
- In January 2024, the monthly inflation rate for goods and services in the US increased by 3.1% compared to January 2023.
My LinkedIn feed pretty much reflects this data when looking at the number of people who are “ready to work” after a layoff or are ready for a career change.
Should you start career cushioning?
This is a very personal decision. However, to me, the data suggests that keeping a Plan B in your back pocket might not be a bad idea.
Here are some things to consider:
- Do you feel satisfied and safe at work? Lack of job satisfaction is another big reason why professionals are making other plans.
- Do your skills need refreshing? Upskilling is a strategy to improve your career, but it is always a good idea to sharpen your expertise.
- Can you comfortably explore new opportunities? It can be great to improve your career, but don't do it at the risk of losing your current job.
my take? I started my candle business in 2020 for fun. But, TBH, it's nice to know that even if I lose my job tomorrow, I'll still have a source of income.
How to build your own career
Here are five ways to improve your career in 2024.
1. Develop skills in both new and existing areas.
This is great advice whether you're pursuing a career or not. Skills are meant to be developed.
Of course, the same marketing framework I learned while completing my MBA in 2021 can still apply. But the skills required to become a great marketer evolve with trends and time.
For example, you couldn't have told me three years ago that I would be using AI in my daily workflow. But it's here, and it's a skill I had to (and wanted to) develop.
Luckily, there are plenty of free resources, like the HubSpot Academy, available to help you grow your professional skill set.
2. Keep your LinkedIn and resume updated.
Even if you're not ready to apply for jobs yet, update your work history regularly as you make new accomplishments in work and life.
Have you hit any targets or goals recently? Have you mastered any new skills like we talked about in #1?
write it down.
I promise, it's easier to track those accomplishments on your LinkedIn or resume as they happen rather than trying to update things all at once. (Speaking from experience here.)
This is especially true if you're in trouble and need to find a new job fast.
3. Nurture and expand your network.
I talked about keeping your LinkedIn updated in the last tip, but it's more than just a resume.
LinkedIn is the perfect place to connect with like-minded people in your industry or make new professional friends.
With the right network, you'll gain access to job listings, networking events, and referral sources for new opportunities.
Putting yourself out there and promoting your brand can go a long way in improving your career.
4. Start a business or find a side hustle.
Becoming an entrepreneur is not easy, but it is possible if you find something you are passionate about.
You may consider turning one of your existing hobbies into side work. That's how I became a candle business owner.
Or you can choose some additional work related to the field or skill you are interested in. Maybe you really love writing, so you can pick up a few freelance hours for one of your favorite blog sites.
Who knows, you might be able to turn that side hustle into a full-time gig.
Whatever you choose, don't fall into the candle game. I don't need any more competition 😉
5. Don't risk your day job.
Like I said, career cushioning is a great way to create a job safety net for yourself. But the whole point is to have a backup plan in case you need it.
Of course, if you're already thinking of changing fields or changing your career path, do so. However, the key to a better career is to give yourself options in case you lose your job.
Don't inadvertently make this a reality by adding too much to your plate or neglecting your current employer.
In other words, “If it ain't broke, don't fix it.” Just make it padded.
Bottom-line
If you ask me, there's no harm in exploring new things and keeping your options open.
To answer the question of whether I consider myself a career cushion-er, I'm going with this… Yes,
However, it's more than just my side hustle. I'm always looking for opportunities to learn new things and grow as a person.
And if you feel the same way, I'd say adding a little padding doesn't hurt.
