Have you noticed all the ‘We’re Hiring’ signs posted at local shops and restaurants lately? It’s a sign of low unemployment.

According to the latest release by the Bureau of Labor Statistics, national unemployment levels are at 3.7%–the lowest it’s been in roughly 50 years. This means most people who want to work have a job. Some even have multiple jobs.

So if you’re employed and feel pretty secure in your job, it might be tempting to sit back and collect a paycheck. This is reinforced by the fact that recruiters are actively stalking people on LinkedIn, signaling hirability based on your current experience and accomplishments.

But there’s no better time to actively invest in yourself and your human capital. Why? Because the job market isn’t always going to be this way.

Some recent commentaries on the current job market point out that historically, when there are low levels of unemployment, an economic recession is soon to follow.

It may not be immediate but the pendulum will inevitably swing the other way. And when that happens, those who survive job cuts are likely those who can demonstrate higher human capital and value to their employers.

So how do you invest in your human capital?

Before we delve into ways to build human capital, let’s revisit what it means. In my last blog post, I defined human capital as “the potential to earn money with the skills and abilities that you have.”

I wrote about the importance of human capital and how for the majority of us, it’s our biggest asset. Investing in our human capital can have significant, tangible implications on our current and long-term wealth.

As someone who’s not deeply established professionally, I’ve spent a lot of time and resources in the past few years cultivating my human capital. The thing with human capital is that it doesn’t always translate into immediate results or return on investment. It may take years to reap the benefits of what you sow today.

That’s why it’s imperative that we’re continually investing in ourselves and don’t just wait until we’re unemployed. I’m glad that I spent the time and energy to invest in myself and strive to continually do so.

Here are some of the best ways I’ve found to invest in your human capital.

1. Learn

Let’s start with the obvious. Learning is the building block of human capital.

Whether it’s a college degree, certification in certain skills, continuing education courses, or apprenticing under experienced professionals, learning something new is the quickest way to boost your human capital.

But just because it’s obvious doesn’t mean it’s easy. When you’re busy working full time or have three young children at home like me, learning becomes an afterthought. We go into survival mode tending to immediate needs while forgetting the bigger picture of where we’re going.

When we do take a moment to consider future goals, it’s hard to take action. And even when we actually start pursuing continuing education–say, enrolling in a program or signing up for classes–it’s hard to stick it through and actually finish.

What’s worked for me is not just knowing where I want to go but why. Are you doing it to increase income? Boost your credibility? Gain entry into a certain industry? Or perhaps you’re just curious and love to learn.

Whatever your reason for learning, it’s going to be a commitment. Here are some best practices for maximizing your efforts:

• Do your research before you start. Find out exactly what you need to do to reach your goal. Compare different programs and costs. Get advice from others who’ve gone through that process.
• Do it in smaller chunks so it doesn’t feel overwhelming. It’s like the old adage, “How do you eat an elephant? One bite at a time.” When I looked at CFP programs, I intentionally chose the one at Florida State because it allowed me to take one module at a time and pay for each module as I go. This makes the time and monetary investment more manageable.
• Make sure your spouse and family is onboard. It’ll be an uphill battle and you’ll need all the support you can get.
• Consider online courses–not the kind offered by traditional universities but by other professionals (like the ones offered on Udemy). Sometimes you can learn a new skill or approach more cheaply and quickly through an online course than through a traditional college program.
• Make learning a lifelong endeavor, not just a point or period in time. By doing so, it’s not such a big leap whenever you set out to learn something new.

2. Stay informed

Staying informed is less about formal education and more about staying up to date on news, trends, and current events. Having fresh and relevant information is a great way be seen as an authority or at least a qualified professional.

Demonstrating that you’re informed is a huge differentiator in job interviews. When I was an undergraduate student, I hardly ever read the news or listened to talk radio. Somehow, I started doing so a few years ago and it’s really paid off whenever I go to interview for a job. I’ve had employers comment on how well-read and informed I am compared to other candidates.

I’m not telling you this to boast but simply to share that knowing what’s happening in your industry and the economy in general goes a long way. It signals to employers that you’re not just there for a paycheck but that you’re truly engaged and enthusiastic about the job.

Being informed also has implications beyond interviewing. It’s immensely useful during networking as we’ll touch on in the next point, as well as decision making when buying things. Being an informed consumer always gives you more purchasing and negotiating power.

Here are some ways that I stay informed:

• Reading (books, blogs, news articles, email newsletters)
• Listening (talk radio, podcasts, webinars, Ted talks)
• Social Media (LinkedIn, professional Facebook groups, sometimes Twitter)
• Subscribing to industry thought leaders
• Attending local seminars and events (for example, I went to a blockchain discussion the other night that was super interesting)
• Networking with other professionals, which brings me to my next point…

3. Network

I know, you’re probably thinking, “Eww”. Depending on your personality and experiences in the working world, networking may have a negative connotation.

However, networking can be very beneficial to boosting your human capital. This is one of those activities that don’t generate an immediate payoff. But when a contact connects you to the right HR director or tells you about a great opportunity, you’ll be glad you invested in that relationship.

Networking isn’t a new. It’s been around long before business cards were a thing. It’s more an art than a skill and for many of us, it takes practice.

Here are some tips to make networking more enjoyable and less of a chore:

• Look to give, not to get. This might sound counterintuitive as most of us attend networking events to ‘get’ something out of it. But when you seek to provide value to others–even something as simple as a smile to help someone feel more comfortable–instead of pining to get two seconds with the most influential person in the room, it imparts a warm and inviting attitude that makes others want to talk to you.
• Remember that you have something to offer. Even if you don’t have a laundry list of accolades or years of experience, you have a unique perspective on things (especially if you’ve been staying informed). Of course, don’t knock people over with your opinions. Just be genuine about your thoughts. People can sniff out pretense.
• Don’t confine networking to formal networking events. Often times, these ‘events’ are ridden with well-established clicks of people. While it can be worthwhile to attend them, I’ve found it more useful to attend sessions where there’s a defined focus which attracts certain types of people with shared interests. This way, you’re more likely to have meaningful conversation, not just a rehash of “What do you do?”
• Listen more. Talk less. Remember names. Don’t lose business cards. Follow up with people. Remember, it’s about relationships.

4. Volunteer

This one is less obvious but there are many ways volunteering can help build your human capital.

First, it can help you develop new skills. Just because you’re not getting paid doesn’t mean it’s mindless work. Some of my most meaningful experiences have been from volunteering, like when I went with a group of women from church to visit female patients at a local chemical recovery center. I learned how to have empathetic, oftentimes difficult conversations with those who are struggling from drug and alcohol addiction.

Second, volunteering exposes you to other professionals and companies. Volunteerism has become a common practice as companies strive to demonstrate social responsibility.

It can be a great alternative to traditional networking since the pressure is taken off of “connecting” with other professionals and put instead on serving alongside them. Being part of a young professionals group at my local United Way chapter has introduced me to a ton of other professionals and allowed me to widen my network.

Lastly, volunteering makes you happy and simply put, people want to hire happy people. Volunteering is a form of practicing abundance mentality since you believe that you have time, money, and/or energy to give to others. This is impressive to people including potential employers because it shows that you care enough to go beyond what’s required of you.

5. Find a mentor

Or multiple mentors. Mentorship is invaluable in personal development, whether in the professional realm or not.

I’ve had the privilege of working with many mentors in the past few years–most of them offering their time and expertise for free. Some of them have become more like friends as I’ve shared my personal struggles and been vulnerable with them.

Yes, you do have to take advice with a grain of salt but at the end of the day, a great mentor is more valuable than a hundred self-help books.

How do you go about finding mentors? Again, networking is a great way to meet people who might be interested in helping you develop professionally.

Also check out professional trade associations as they often have mentoring programs to help newcomers get established in the industry (especially if they’re trying to attract greater diversity and increase accessibility which is the case with the financial planning industry).

Lastly, look into mentoring organizations–particularly those with retired professionals who are looking to give back. One that I recently heard of is SCORE, a national nonprofit organization that matches small business owners and entrepreneurs to experienced mentors to help grow their business. Oftentimes, these resources are free. You just have to look for them.

6. Attend conferences

One thing I realized in the past few years is that the conference industry is booming. Whatever your profession, I’m sure there’s a conference (or hundreds of conferences) for it.

Conferences can be quite costly, though. And they also take time to attend. They’re definitely an investment but the knowledge gained and contacts made with other professionals can be well worth it.

If you want to attend conferences, consider these strategies:

• Ask your employer to sponsor your costs. If the conference is directly related to what you do, it shouldn’t be a hard sell. If your company is on a tight budget, perhaps you can agree on an arrangement where they give you a small conference budget each year. In some industries (like mine), you can even include conference attendance as part of your compensation package, thereby allowing you more room for negotiation.
• Look for scholarships. There’s a lot of them out there. I can name at least three different conference scholarships for various trade associations in my industry. They usually require letters of recommendation and an essay. But given that conferenes can run upwards of $800 plus travel and lodging, it’s worth it.
• Know what you want to get out of the conference. Is it CE (continuing education) credits? Do you want to learn about a certain technical topic? Meet someone in particular? Review the agenda ahead of time and read up on the speakers. Brainstorm some potential questions to ask during the breakout sessions. Doing some homework ahead of time will allow you to make the most of your time at the conference. For more tips on maximizing conference effectiveness, check out Conference Commando by Keith Ferrazzi.

7. Build a personal brand

‘Personal brand’ is one of those buzz words. It makes most people think of their LinkedIn profile. And while you should absolutely optimize your LinkedIn profile (put up a picture, at the very least!), personal branding goes far beyond that.

Personal branding can include having a website, blog, or presence on social media. It can also mean publishing a book or becoming a well-known speaker. Some of the biggest names in business made their mainstream debut with a Ted talk, such as Simon Sinek and Brene Brown.

You can be regarded as an influencer or a connector. Even something as simple as someone who’s ‘dependable’.

It could mean different things to different people but the point is to differentiate yourself from the masses. In our modern work culture, we can’t afford to be another faceless, easily replaceable commodity worker. We need to differentiate ourselves somehow through creating a personal brand unique to us.

Now I admit I’m not an expert in this. I know people who’ve had their name as a url (i.e. www.janesmith.com) for years. I just started my personal brand website this year–thankfully mauivang.com was still available! The important thing is that I started.

Just like any other kind of branding, personal branding takes time to spread and to stick. So don’t wait to market yourself.

8. Self care

Sometimes we can get so caught up in our professional lives that we forget about the rest of life. Our families. Our communities. Our values and beliefs. And most often, ourselves.

Let’s take a step back and remember why we’re trying to build our human capital in the first place. Human capital helps us earn more money now and in the future. We earn money to secure our safety and survival. And safety and survival enables us to, well, live.

So human capital helps us live. But what if we’re not actively living?

This is a deep question beyond the scope of this blog post. But I want to raise the question because I think it’s important we remember what it’s really about at the end of the day. Otherwise, we may find ourselves the smartest, highest earning, most well regarded professional in the world and yet still be unhappy.

Caring for ourselves is how we protect our human capital as we’re building it. Unlike money, property, technology, food, or other assets, human capital is not readily transferable. If we’re not around, it doesn’t exist.

I know, it’s kind of grim and probably all too obvious. But unfortunately, too many people neglect their personal health, relationships, and happiness in the pursuit of success. Let’s remember why we’re doing this: to better ourselves and the people we care about. We can’t be better if we’re not well.

The best investment

Investing in your human capital–and therefore yourself–is the best investment you can make. And now is the best time to do so.

Nobody knows what the future holds. Will there be a recession? Natural disaster? Worldwide catastrophe?

Anything can happen and things may not always be this rosy. But instead of merely consuming, we have the power to be an asset–to ourselves, our employers, and our communities.

As Ralph Waldo Emerson wrote, “What lies behind us and what lies before us are tiny matters compared to what lies within us.”

What are some ways you invest in yourself? Please share in the comments below!