Page 40 - Banking Finance January 2024

ARTICLE

Enhance their work-life balance: By having more
confidence in their career prospects, public sector bank
employees may be able to better manage their work-
life balance because of the reduced stress in their work
environment.

Overall, career cushioning is a valuable tool for public sector
bank employees that can help them to achieve their
professional goals and also enhance their overall well-being.

Strategies for Effective Career Cushion-

ing:
A survey was conducted by LinkedIn, the world's largest
professional network, during May 2023 as a part of research
to explore the shift in the attitudes of Indian professionals Strong networks within organizations can be built
towards their careers over the last 20 years. It revealed an through active participation in official events, and
interesting fact about career cushioning apart from studying trainings. Social gatherings, both official and unofficial
the attitudinal shift. According to the survey, 76% of can also form good platforms to build lasting networks
professionals in India believe there is less importance now in banks. These networks provide valuable insights into
on degrees being a prerequisite for jobs as compared to two career opportunities, potential mentors, and the
decades ago. It indicates that professionals are relying industry trends.
upon skills over degrees as a way to chart new career Guidance, and support for advancement can be gained
paths and the need for continuous upskilling is significantly by cultivating meaningful relationships with mentors,
higher. managers, and knowledgeable individuals within the
organization.
While continuous upskilling ensures that the employees are
abreast of the advancements of today, it has to be
Third strategy required for career cushioning follows the
supplemented with workable strategies to cushion their
development of skillsets. It is to actively seeking internal
career. Some of the effective strategies for career
opportunities and promotions. Proactive seeking of internal
cushioning for employees of public sector bank are discussed
opportunities demonstrates interest in advancement and
ahead.
can lead to promotion. Expressing interest in career
First of all, the prime strategy to cushion one's career is advancements to supervisors during performance reviews
through developing skillsets and embracing continuous or informal conversations showcase willingness to take on
learning. Expertise can be enhanced and knowledge of the additional responsibilities to position such employees as
latest trends in respective domain area can be maintained strong candidates for promotions. By communicating
by taking advantage of training programs, online courses, aspirations, they can get valuable feedback and be
or industry certifications. Conferences, role specific seminars, considered for future opportunities.
or workshops can be leveraged to generate new ideas which
can eventually benefit the organization by adopting the Furthermore, volunteering for challenging projects or
industry standards. assignments allows the employees to step outside their
comfort zones. It proves their ability to handle more
Secondly, strong networking by building professional responsibilities and their versatility. Active engagement in
relationships with mentors and superiors is a key strategy cross-functional projects or volunteering for new initiatives,
for career cushioning. Following measures can be taken to also command better visibility besides exhibiting leadership
harness the potential of networking with colleagues. potential of such employees.

BANKING FINANCE | JANUARY | 2024 | 35