How UK career professionals can stay afloat amidst public sector funding cuts
“Fantastic careers programme – but we can’t justify running another one in the current economic climate.”
The UK is facing the biggest public spending cuts since World War II, imposed by the newly formed British Coalition Government. The extent of the cuts is breathtaking, and everyone will be affected in one way or other: public sector workers, suppliers, contractors, and of course the general public.
So what can you do as a career professional whose contracts are dependent on public sector funding? Here are a few strategies that we have discussed in our UK networks of career professionals:
1. Renegotiate your services
If there is no money left to run tried and tested career programmes, suggest more cost-effective alternatives. For instance, instead of 1:1 career consultations, could you introduce a group coaching programme? If you run workshops for 20 people, could you increase numbers to 25 to achieve a lower cost per person? If your clients consider you a valued resource, they’d rather come to a practical solution than give up your programmes altogether. The challenges are obvious: a) how far do you compromise before the quality suffers, and b) how do you get clients to understand that the results might be different?
2. Repackage your services
Career development is out – outplacement support is in. That’s the overall message from public sector clients. They have a huge challenge on their hands in justifying any expenditure. You can repackage a career transition programme one of two ways: If your programme will help people move into new jobs before the organisation has to make them redundant, you’re saving the organisation money and that’s an easier internal sell. Or, you could provide an outplacement support programme for those affected workers.
3. Become an associate
For some of us, work has dried up completely. Consider becoming an associate of a larger careers firm. Yes, you won’t earn as much as before, but it will provide some steady income and still leave time to find new markets for your own work.
4. Collaborate with other independent consultants
With the major public sector reorganisations ahead, there will still be large career and outplacement contracts out for tender. As individual career professionals, we often don’t qualify as suppliers because we don’t have the required delivery capacity. Collaborate with other independent consultants and find out how you can tender together. You will have to create a new company, a separate entity from your individual practices. It will take some work and someone will need to drive the process, but it could be a viable alternative.
5. Increase the number of private sector clients
Can you grow your client base of commercial organisations? Apparently, the “War for Talent” has started again in professions such as accountancy, HR, IT and the engineering and technical sectors http://www.telegraph.co.uk/finance/jobs/7929183/War-for-talent-resumes-as-salaries-climb.html. And talent management programmes are resurfacing. If you have experience in these areas, you should be able to identify new income streams.
What wisdom can you share that will help UK career consultants keep their businesses going? Please comment below.
Ruth Winden
