How to manage your career
Patricia Cressot, President of MWF Institute, Olivia Vaunaize Fillon, CEO of Beyond Potentials Monaco, Aude Lefevre Krumenacker, MWFI Administrative Manager, Charlotte Bertacchini, Talent Acquisition Specialist at Beyond Potentials Monaco and Murielle Leroy, Talent Development Expert at Beyond Potentials Geneva © Monaco Tribune / Anaïs Riu
The Monaco Women in Finance Institute recently organised a fascinating round table on career management, led by Olivia Vaunaize Fillon, CEO of Beyond Potentials, a recruitment specialist and coach in the banking sector, and moderated by MWFI committee member Aude Lefèvre Krumenacker. Here are the key tools to help you in your career choices.
Given the very dynamic job market in Monaco, where over 73,000 people are actively employed, it’s crucial to know how to orient your career. Career management is essential if we are to adapt to a constantly changing environment.
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We’ve put together five key points to help you take control of your career path, based on valuable advice from Olivia Vaunaize Fillon.
1. Define clear career objectives
The first step to effective career management is to establish clear, well-defined objectives. The SMART method (Specific, Measurable, Achievable, Relevant, Time-bound) is an excellent framework for laying out your ambitions.
For example, instead of simply hoping for a promotion, state an objective such as: “I want to be promoted to Director in two years’ time by following three leadership courses this year.” This approach enables you to create a structured action plan and monitor your progress.
It is crucial to reassess these objectives regularly to ensure that they are still in line with your aspirations, adjusting them if necessary. A clear roadmap will help you to avoid getting sidetracked in your career path.
Olivia suggests an ideal example of a SMART objective would be: “I want to become a senior project manager in my company within three years, by taking two project management courses this year and successfully completing at least three major projects over the next twelve months.”
2. Boost your visibility and network
Networking plays a key role throughout your career. Being seen is essential. Use platforms like LinkedIn to update your profile, share your successes and start meaningful conversations. Establishing professional connections can open doors and create unexpected opportunities.
In 2023, the trend towards self-employment has also gained momentum, growing faster than the working population, with an increase of 4%. This underlines the importance of being proactive in building your network.
Especially in Monaco, every meeting can turn into an opportunity, so it’s essential to get involved in networking events.
3. Maintain a balance and manage priorities
Career management should also be about finding a balance between your professional and personal life. Learning to say no to commitments that don’t serve your objectives is essential. Remember, knowing how to say no means saying yes to yourself.
It is also essential to differentiate between what is urgent and what is important. Being overloaded with work can quickly lead to burnout, so it’s essential you manage your priorities well. Creating micro-goals can make it easier to move towards your overall goals while maintaining this balance.
As Olivia points out: “Your career is a marathon, not a sprint: the key is to manage your time and effort intelligently, to move forward strategically rather than at full speed.”
4. Identify and build on your strengths
To navigate your career effectively, knowing and leveraging your strengths is fundamental. Tools such as personality tests, 360° feedback, SWOT analysis, skills evaluations or simply self-assessment or self-reflection can help you better understand what motivates you. You can then align your career choices with your skills and interests.
Identify what gives you energy and what gives you real satisfaction at work. What you get up for in the morning! This can make a significant difference to your career path and help you make informed decisions about your professional development.
5. Be prepared when negotiating
Pay or rate negotiations are often perceived as a daunting affair. Fear of rejection, doubts about your value, fear of reprisals or lack of confidence can make it difficult. To overcome these stumbling blocks, it is essential to prepare thoroughly.
Establish a clear understanding of your value on the job market, with solid arguments to back up your claims. Charisma also plays a crucial role in negotiations. Practising and simulating negotiations can boost your self-confidence.
Don’t forget that the job market in Monaco offers better conditions such as more attractive salaries and better social security cover, but it’s also essential to be aware of travel and accommodation issues, as well as the high cost of living.
To sum up
Career management is an ongoing process that requires introspection, preparation and strategy. In Monaco and everywhere else, it’s crucial to be proactive and aware of your choices.
By taking these five points on board, you can successfully navigate your career and seize the many opportunities that await you. Take control of your potential and move forward with purpose: your career depends on it!
