Are you looking to move ahead in your career?
Whether it’s because you’ve learnt all you can from your job, looking for more money, or simply looking for a change in environment, you’re not alone.
Hundreds of thousands of finance professionals change jobs every year, striving to improve their career progression.
In this article, we discuss a few ways on how to make progress in your career path and practical tips on how to maximize your chances of success.
Let’s take a look!
- What is career progression?
- 3 typical ways a career progression happens
- 4 useful tips to improve your career progress
What is career progression?
Career progression simply means moving forward in your career path.
This can happen in many ways, such as being promoted, increasing job scope and responsibility, finding a new challenge/opportunity/employer, and basically getting the most of your career.
As an employee, it is important to plan your career progress since no one else will help you with this. Not even your boss since they are busy managing their own career progress, too.
In essence, you have to be a CEO of your own career pathway, to ensure that your work achievements are being recognized and that you’re more likely to get what you want out of your career.
3 typical ways a career progression happens
Getting promoted is usually what comes to mind when most professionals think about career advancement.
And who can blame them? More responsibilities, (usually) more compensation, a black-and-white confirmation that your company thinks you’re awesome – there are many things to like about promotions.
If getting promoted is square in your sights at work, check out our handy guides on this topic;
- Want to Get Promoted? Here’s What You Must Know
- 8 Tips on How to Secure Job Promotions (Part 1 and Part 2)
- 3 Hacks You Can Use to Immediately Get Better At Your Job
However, often getting promoted is rarely the easiest nor the fastest way of advancing in your career:
- Perhaps your team’s dynamics doesn’t allow your position to go up any further;
- Maybe your manager has a problem with you; or
- Work has simply not gone well enough this year, not because of lack of personal effort, but rather what’s happening in the markets.
If getting promoted in your role is looking tough, you need a backup plan.
And one effective option to ‘get promoted’ anyway is to pursue a better job at another company.
Move to another company
If you’ve done all you can at your current company, a natural next step is to look elsewhere.
Job-hunting can be tough, but the rewards are aplenty – a new start and a chance to adjust your career to better suit your goals.
For those who have not looked at the job market for a while, this may look a bit daunting. We’ve also written many guides to help the job-hunters among our readers:
- How To Write A Good Resume: 11 Actionable Tips
- How to Network: 7 Easy Networking Tips To Boost Your Career
- How to Prepare for An Interview: 3 Steps To Secure Your Job Offer
Getting your resume reviewed professionally can be one of the best investments you ever make.
Topresume has a free resume review that can help you brush up your resume/CV and make sure your work experience and qualifications are tweaked to their best potential.
But wait up. What if you’d really like to stay at your current company?
Perhaps what you want is a change in responsibilities and job industries.
In which case, you could also explore changing roles or teams within the same company.
Move to another job at the same company
Maybe you like where you are, company-wise, but would like a change in your role, or switch to a different team.
This is sometimes simpler to achieve than people think – but it needs to be approached the right way.
These are the 4 approaches you can implement to execute your career progress plans.
4 useful tips to improve your career progress
Keep a constantly updated list of your work achievements
An online word document works best (so you don’t lose it!), but jotting it in your notebook will do as well.
It serves as a great record of your work achievements so far, and it is really easy to forget them in the hustle and bustle of work. Whether it is a presentation made at an event, a training course you’ve done or positive feedback received from a project, note all of these down as they happen.
This practice is a brilliant time saver because:
- It is a great tool when you are thinking of your career plans and where you want to be.
- It makes the year end appraisal process simpler.
- It makes updating your resume / CV much easier!
- It builds up your confidence for interviews since you’re constantly keeping in touch with your best work so far.
Have a ‘work date’ lunch at least once a week
Building your company network is one of the most effective ways to easily switch teams.
Try having a ‘work date’ lunch – have lunch with someone from another team, not for any specific agenda, but rather just to hang out and find out more about each other.
This creates a network within your company that can really help when you’re looking for something else within the company.
This method has served me very well – in the past, I successfully switched jobs three times in the same company just by having ‘work dates’.
Just ask: let your manager and HR know
If you are looking to switch teams internally, you may balk at letting your manager know that you want to leave their team.
But letting them know helps you a lot, with minimal risk and downsides:
- Your manager knows a lot of other managers. If you’re planning to switch teams within the same company, it is in their interest to help you do that as soon as possible. And by letting your manager know, you’re bringing someone in that can really help you make the right connection.
- Your manager will find out anyway. If you’re speaking to other teams about possible jobs, one of the first things they will look for in any case is a validation of your performance from your current manager. It’s much better for you to have discussed this with your manager before this happens so that your manager doesn’t find out through people asking about your performance.
- They can help you build the right experience. Letting your manager know also allows you to discuss your areas of interest with them. They can put you on specific workstreams that help build the right areas of experience, and sing your praises when the right people ask about you.
- OK, so they may now promote someone else over you in their team. But is that a big deal? If you’re already thinking of moving away from your current job, was that promotion going to happen? Would that have mattered anyway?
Having a discussion with your company’s Human Resources (HR) department may help too, as many large companies have an internal hiring program.
Make sure you let the right people in HR know that you’re looking to move teams, and keep a lookout for right roles on internal job boards.
Be comfortable with taking risk
In “The Millennial Economy”, Ernst & Young and the Economic Innovation Group conducted a new national public opinion survey of 1,200 millennials to gauge their views on a variety of issues related to the economy at all levels — personal, local, and national — and the challenges they face almost 7 years into the recovery from the financial crisis of 2007.
The responses given in the surveys clearly displayed a trend correlating with a resistance to change and risk-taking.
The more change there is in the career advancement method, the less appealing it was to survey respondents.
But this has no bearing on the effectiveness of each method – in fact, the inverse is more likely to be true.
The more comfortable you are with change, the less competition you have, and the higher the chances of your success.
In short, the more you put yourself out there, the more confident you’ll be about doing so in the future, and the more people will start to notice and remember you for your can-do attitude.
Take charge of your career today and pursue the change you want from it!
Whichever method you choose to progress your career: be comfortable with change. Constantly challenge yourself to play outside your comfort zone, and get ahead in life. If you have any questions or need advice, I’d be more than happy to help. Just drop them in the comments below!
Meanwhile, here are some related articles that may be of interest: