What Does The End Of Financial Year Mean For Your Career?

That June 30 deadline invites most of us to think about tax time. However when the End of Financial Year (EOFY) is mentioned, do you ever consider what it may mean for your career and when it may be time to undertake a career transition? Regardless of whether you’re an executive or hold another position within an organisation, it’s time to look at the facts.

Passing June 30, most organisations would have spent the month working through their expenses for the current financial year and more specifically, what they need to spend more money on or roll over. What does thee next step mean for you? Now’s the time for all of us to review our own balance sheet.

It all comes back to career currency – an important component of career transition. Explained simply, career currency is based on all of the things you have and do – capability, actions, attitudes and behaviours – that see you being rewarded and valued in a workplace. Think back to when you were a kid in primary school and what you had to do to earn that gold star or the ‘Student of the Week’ award. Career currency is similar.

Career Currency is somewhat set by the market itself – what do organisations and hiring managers now require? Currency of skill, attitudes, behaviours and performance. What is currency for me? There is no doubt that career currency is critical for ongoing employment and career transition, which means that you need to consider what currency you trade in.

Take a blank sheet of paper and a pen and jot down what assets you have on your balance sheet. It’s harder than it appears, isn’t it?

From here, some key questions to ask yourself include:

• What do you have to offer your current employer?
• What can you offer a future employer?
• How current are my skills, my qualifications, my workplace attitudes, my networks?
• Is it time to invest in a career coach or development program to hone your skills and continue building on your career currency?

In my line of work, I see patterns and some of those patterns, are worrying. So many people push concerns about their job security and career currency to the back of their mind. I understand – it can be stressful to consider that life can change from one day to the next. Here’s the thing though: life does change in a moment so don’t get caught off guard – it is up to you to control your career and currency is everything as you undergo career transition!

In 2018 and beyond, as technology continues to develop and seep into our everyday life, many jobs simply won’t exist in the near future as they’ll be performed by a computer or a robot. Even if they’re not, so many roles are being combined into one – forget about the days when you had a Communications Manager and a Public Relations Manager. Both roles are now commonly performed by the one person – this is only one example.

Whatever you do from here, you’ll always gain whatever energy, effort and resources you put in. Pushing negative but realistic thoughts to the back of your mind, robs you (and your loved ones) of the best possible future that you can truly enjoy. Are you willing to back yourself and follow your dreams?

If you answered yes, I look forward to hearing from you (hopefully, before the end of financial year!). This is how a career coach can help you to move forward and increase your career currency especially during a career transition.

Deborah Wilson is a Thought Leader in Executive Careers. She takes a personalised approach to strategic career coaching and career transitions, mentoring, and leadership development. Deborah provides expert guidance for individuals while supporting organisations through change and connecting people and purpose. Call Deborah on +61 403 779 746.www.ontalent.com.au