It’s that time of year. No, not the time to take off because you are so worried about the stock market. There could be New Year planning, creation of new visions and missions and bonus distributions to name a few. Just when you want to coast through Q1 is the time when you need to suck it up and ask yourself, “Should I be worried about my job?”

The answer is, yes. We don’t need to turn the magic eight ball over and hope for “Answer hazy, try again”. The answer is unequivocally, yes.

If the heads of Merrill Lynch, Bear Stearns and Citigroup can go, so can you. Then think about the stock market craziness, talk of recession, the sub-prime mortgage meltdown, oil prices and your unemployed neighbor and well, that crazy thought about job security should enter your mind.

Should you be worried about your job? The answer is yes. If you are asking yourself the question, the answer is certainly, yes. We are all on probation every day. These days that probation just seems a little more real. Wake up! As we dive into this New Year, all of us should take stock and wonder if we should worry.

Here are some warning signs to look for in the Annual Job Security Check Up:

YOU are worried about your job. Who knows better than you if you did anything worthwhile recently and if you are in the company’s plans for the future? If your assistant tells you that you should be worried about your job, it carries a multiplier effect.
While trolling through Craigslist, you spot your own job advertised as an openings section. Don’t assume this is good news and that the reason why this is posted is that they are going to surprise you with a promotion.
Surveys are administered inquiring whether you believe it to be offensive when a company lays people off through email.
If you are a CEO and the Board of Directors is having emergency weekend meetings, make sure you are familiar with your severance arrangements.
You work in the housing industry, the banking industry, the real estate industry or anything related to any of those. Read the newspapers.
The company is experiencing delays in financial filings. Any delay in financial filings is something to worry about. Any.
The company website starts promoting job search websites. The company servers melt down because everyone is accessing job search web sites.
Consultants are brought in and talk about “activity analysis.” They hide in conference rooms with the company roster and yellow stickies with names on them.
When teams are chosen for the hot new projects, you are not chosen. The feeling is the same as the one you had on the playground in the second grade even though your boss says they are holding you out for something “special.”
Headhunters start calling you en masse which is a good feeling until one makes the mistake of saying he was referred by your boss.

Worrying about your job can be a good thing. The worry keeps you on the lookout for new opportunities and motivates you to perform better in your current job.

Should you worry? Yes. Should you always be evaluating your current situation? Yes.

Should you let the worry ruin your life? No.

Check out the warning signs and decide for yourself if you need to dust off that resume hidden somewhere on your desktop. The New Year is a great time to network. All year is a great time to network.

Richard A. Moran is a Partner at Venrock in Menlo Park, CA and the author of Nuts, Bolts and Jolts. We profiled him in A Tale of Two Self-Actualization Gurus.