The Changing Nature of Jobs and Careers
by Manish J. top MBA colleges in BangaluruIn our parents’ time, joining the public
sector ensured job security and perpetual employment (till retirement). Most of
our parent’s generation stuck to one company throughout their working life. The
economy was stable and upheavals were rare and contained.
During my time, doing MBA from one of the leading Business Schools in
India and then getting into a multinational was the rage and we
would stick with a company for a minimum of 3 years, and changed jobs maybe
6-10 times in a career spanning 40 years. During the mid life crisis, we
would contemplate an alternate career maybe in the social sector or the
entrepreneur bug would bite us. The economic upheavals were more frequent, and
the impact could create job deficits and layoffs. However, most organisations
still believed in 3-5 year plans. We could also sense the trends and change our
profile accordingly to remain employed
In the next generation of employees, the
economic upheavals will be more frequent and the impact on the jobs would be
more severe.
- Organisations
cannot come up with a strategy beyond a year, as the trend cannot be
predicted, due to disruptions of technology and the economy as well as
‘black swans’
- Companies
will therefore start projects in marketing, sales and production and then
shut them down if the expected results do not come through or if there is
a cash crunch
- Companies
will outsource most of the humdrum activities like payroll,
administration, even some aspects of sales and production, if these
activities do not have any competitive advantage or are commoditised with
no value-add
- There
will be more inorganic growth by mergers and acquisitions
- Companies
need to have flexibility in size and operations. This means that the
workforce will always have a mix of permanent employees and consultants
We will therefore sometimes be unemployed
and sometimes work as a consultant. Reality is that no company can
guarantee permanent employment nor are they compelled to. If the market is down
and the supply of MBAs is large, we have to accept what is given, else our
pride will keep us unemployed.
This creates psychological issues, as our
beliefs are governed by our parents’ beliefs – that permanent employment
is good. There is a stigma attached to temporary jobs or being a consultant.
We have to accept that we may not get
permanent employment. Acceptance is important and allows us to move on.
We should therefore:
- Invest in
government backed investments like Public Provident Fund for long term
capital creation
- Create
and keep a stash equal to one year’s salary as an emergency fund
- In
our CV, focus on what we know, learnt and achieved, not what
designations we held
- Be ready
to change jobs and locations, leaving the family behind
- Invest in
skills that can provide additional employment including transferable
skills
- Create
and use skills that can keep you self-employed (be it music, teaching or
something…) and keep the home fires burning, children’s education taken
care of
- Be
mentally prepared to move sideways, not necessarily upwards
- Build and
maintain your network
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Created on Apr 16th 2020 04:56. Viewed 352 times.