Your Big Company Career
Will promises made be promises kept?
Many people work at America’s major corporations because:
- They like the environment.
- They love the regular paycheck.
- They like the job security.
- They like the future career path they have been promised.
Each of these premises will be challenged over the next three to five years.
For many, what they have known as their safety zone will no longer be the same as their comfort zone. As they begin to watch the changes that are coming to a growing number of large companies, they're going to discover there's a false sense of security, and that by trying to delay change and remain in the comfort zone, they'll actually put themselves more at risk.
For example, employees of some of America’s Fortune 500 giants have relied heavily on their profit sharing plans, restricted stock grants and stock options to achieve their wealth goals. The problem, however, is that we've seen stock-based compensation fail to deliver the kind of wealth that we've seen delivered in the past. People who work for these companies will have to ask really tough questions about whether the stock can live up to its normal return levels and whether that is the most attractive way for them to be compensated if they stay.
Here’s another example. In the past, employees could focus on their internal relationships- their mentors- at the large corporation, and if they received promises on what their future career would look like, they could count on them. The real question to ask yourself going forward is... “Will the people who gave me these promises still be working here in three to five years, and will they be able to deliver on those commitments?”
Will promises made be promises kept? And if not, what is your Backup Plan?
At Lenox, we are looking at the impact of corporate change on you, your family and your future. We’re here to help you look at where you are today and to prepare for what’s next.
What life transitions are you experiencing right now?
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