Page 39 - Banking Finance January 2024

ARTICLE

Career cushioning is not about only about being prepared of unforeseen circumstances. While public sector jobs offer
for any eventualities but also about actively shaping one's stability, the financial sector itself is rapidly evolving and
career trajectory. It provides a sense of control and security, hence facing restructuring within the organization quite
allowing public sector banking professionals to pursue their often. New technologies are introduced quite frequently
career aspirations with confidence. This article delves into which ensues transitions, and create new roles within the
this varied perspective of career cushioning as a concept bank. By maintaining relevance, public sector bank
which supports professional growth and well-being of public employees become more adaptable to such transitions.
sector bank employees rather than restricting to common They can confidently navigate changes, acquire new skills,
notion of career cushioning as creating a backup plan. and fit into evolving roles and seize new opportunities.
Further, career cushioning helps the employees anticipate
Unique aspects of Career Cushioning for organizational changes, acquire relevant skills required for
new roles.
Indian Public Sector Bank Employees:
Career cushioning for Indian public sector bank employees Job security often provides comfort and stability, but it can
offers unique advantages and considerations due to their also lead to complacency or a sense of stagnation. To
distinctive employment setup and job security provisions. overcome this, a pursuit of professional and personal growth
While public sector bank employees enjoy stability and is required to enhance job satisfaction, and fosters a mindset
protection from job loss, career cushioning can still play a of continuous learning. Continuous learning persuades
significant role in enhancing their professional development, employees to explore their areas of interest, and pursue
adaptability, and career prospects. It encourages exploration certifications and courses. Such continuously learning
of new opportunities and can complement job security in process of acquiring new skills, and staying up-to-date with
numerous ways. industry trends fosters personal fulfillment as well. The public
sector bank employees practicing career cushioning can gain
confidence, enhance their problem-solving abilities, and
Staying relevant and competitive in the ever-evolving
become more versatile professionals.
financial industry is of paramount importance, even for
public sector bank employees. Despite the stability provided
by their employment status, the public sector bank In addition to these key aspects, career
employees must continuously adapt and enhance their skills cushioning can also help public sector bank
to remain valuable assets for their banks. The employees employees to:
who stay abreast of these developments and acquire in- Increase their earning potential: By developing in-
demand skills are better equipped to thrive amidst any demand skills, public sector bank employees can
changes. Staying up-to-date with industry trends, and increase their earning potential through promotions,
acquiring new skills enhance competitiveness of the incentives/ rewards and recognitions.
employees within the organization and beyond. This
enhanced competitiveness can lead to promotions, and new
opportunities, while maintaining job security.

Employees demonstrating engagement, and a commitment
to professional growth gain a competitive edge, and earn
recognition within the organization. They establish
themselves as valuable contributors, which opens doors to
a wider range of career options, and alternative roles,
expanding their opportunities and career flexibility.

Apart from being competitive, career cushioning helps
employees develop resilience and adaptability in the face

34 | 2024 | JANUARY | BANKING FINANCE