The Growing Power of Free Agents in Today’s Job Market

When the 2009-2010 NBA season comes to a close, superstar LeBron James will be a free agent. King James, as he is affectionately known, has been a member of the Cleveland Cavaliers since turning pro six years ago after transitioning from high school. He has brought a lot of excitement to the city of Cleveland, including leading the Cavs to the Eastern Conference Finals against the Orlando Magic last year. NBA fans are eager to see what will happen when LeBron becomes a free agent. Given his achievements, I can't imagine any team in the league passing up the chance to add LeBron James to their roster.

While free agency is a great concept for professional athletes, how does it translate to other professionals? What does it mean to be a free agent when your employer tells you your job is being eliminated? Unfortunately, most people don't have an agent to help them find their next job. Most people are pretty much on their own when it comes to going through the arduous process of registering as unemployed, signing up for COBRA plans if they can afford them, and sifting through their savings to see how long they can pay their bills.

Think about what's next.

If there's ever a time to think about how to further develop your talents and skills as a freelancer, it's now. One of the most effective ways to do this is by building and maintaining your own online reputation. This is like your ESPN highlight reel—an online profile that clearly showcases your past achievements and gives potential managers an overview of how you can add value to a new company.

According to a survey by Michigan-based Kelly Services, 25% of the general population considers themselves self-employed, or "freelancers." Ninety percent of them say they chose self-employment voluntarily. These are people who have realized that waiting for new jobs can mean creating their own employment opportunities.

What to do if you're forced into self-employment?

1. Don't panic. What seems like a hopeless situation is actually a great opportunity. Take a close look at your existing networks, and you'll be amazed at how much "social capital" is at your disposal. Consider volunteering to expand your network, but do so sincerely and without expecting anything in return. If you act for the wrong reasons, you won't be able to build trust.
2. Develop and/or improve your social media skills. We live in an incredibly viral and technological age that you can leverage to your advantage. If you have a LinkedIn profile, make sure it's up-to-date and clearly reflects your talents and skills. Open a Twitter account, think about what valuable content you have to offer others, and then figure out how to express it in a maximum of 140 characters. This is how you gain followers who share your interests.
3. Find bloggers who work in your field and follow their posts. You can create a list in Google Reader to keep track of your favorite blogs. If a blog covers topics related to your expertise, leave a comment. You'll be surprised how many people appreciate your contributions. Use your Twitter handle in your comments. This way, you can find like-minded individuals or people seeking your advice.
4. Get out of the house and connect with other people. Don't hide behind your laptop all day tweeting or updating your Facebook status. Check out coworking spaces in your area and consider becoming a member for a few days. Shared workspaces are a great way to make new connections.

Becoming a free agent can be one of the most daunting moments of your life, but also one of the most exciting. I often think of something NBA legend Michael Jordan once said: "You have to let the game come to you." This applies to free agents, whether you're a professional athlete or a sales and marketing professional. Opportunities will arise naturally if you position yourself in the right place with the right mindset.

Becoming a professional free agent, whether by choice or necessity, demands a strategic approach to managing your career. Just as IceHrm provides small and medium-sized organizations with a robust system for Employee Information Management, Recruitment, and Performance tracking, you need your own system. Your network is your social capital ledger, your online reputation is your digital employee profile, and your daily actions are your attendance and performance metrics. Embrace this phase not as a layoff, but as an opportunity to be your own HR manager. Position yourself for success by actively showcasing your skills and pursuing connections, and like the best free agents, you will find that the game—and the next great job—will come to you naturally.