A New Career View for Our Changing Economy
COVID-19 put career assessment back “on the kitchen table discussion” agenda in many American households. The pandemic’s impact on the macro-economy and the workplace is still a dynamic and “moving target” – both for the short term AND long term. Maslow’s theory can be extrapolated to say that certain sectors within food, clothing, shelter, health, and transportation will remain recession resistant / resilient, but … what about YOUR job?
Let’s look at two career concepts, “Risk” and “Ownership”, and how they may look in the coming months and years. First, let’s consider Career Ownership.
Career Ownership
My Grandfather worked for L&N Railroad for nearly 50 years. Perhaps your Grandfather got a gold watch resulting from a long career from one employer. These days? The average American has had at least 7 adult jobs/employers before age 45. More-to-the-point: Some of those job changes were NOT “by choice”. Employer-Employee reciprocating loyalty, despite whatever it may have been in the past, has a different meaning now – and is not a good bet today.
How much “ownership” do YOU have of YOUR career? Well, … that depends.
If you’re employed: Employers are subject to a number of factors that impact their ability to employ you. Some of these include:
• Industry – Are you working for cruise line company?
• Innovation / Technology – Any former Blockbuster employees out there?
• Mergers and Acquisitions – I’ve been there, done that!
• Consumer trends – ’60’s era retailers: Cigarettes? Yes. Bottled water? No.
• Management performance – The Peter Principle still lives
• Suppliers – trade policy – supply chain – commodity prices – weather – , … all can have effects
• Politics – Corporate tax code? Good luck with that!
Many changes in these employer factors are things you have NO control over. And, the control you DO have is more limited than you think. Just ONE example:
Are you working from home because of COVID-19? Is your job STILL at risk because of the pandemic? If so, have “serenity” in knowing you can’t change these outside factors. It’s time to move on, and take a serious look at whether or not change is required. And, NOT just for the sake of change now, but for the sake of OWNING your Career … for the long term.
Career Risk
What if … YOU took ownership of your career … by becoming your own boss? That’s right: Start your own business!
Is your first reflex to think “too risky”? Really? Why? Let me suggest that perhaps you’re acting from F.E.A.R. – False Evidence Appearing Real.
First, a little perspective. Nearly 45% of my clients at mid-career or later have been downsized from their supposedly “secure” corporate jobs (including me!); many from healthy Fortune 500 companies. Do you think they felt in “control” of their careers when their pink slip arrived? Sure, some got severance packages, COBRA coverage, and free outplacement counseling, but did THAT give them confidence to look for another “secure” job in another corporate role? No. And, NOW? They see “career risk” in a whole new way.
“God, grant me the serenity
to accept the things I cannot change,
the courage to change the things I can,
and the wisdom to know the difference.”
Gallup surveys consistently report that 70% of Americans want to be “self-sufficient”, yet historically, only about 6-7 percent move forward into business ownership. That said, small business ownership IS on a strong growth ramp, and Intuit research predicts a dramatic increase to 42 million small businesses in the USA by 2026; and that was BEFORE COVID-19!
Many companies are finding ways to offer staffing incentives away from traditional norms. Things like 1099 contract work (the “gig economy” trend), early retirement incentives, temporary staffing, and even part-time for professional positions. Summarizing, hiring trends were already moving toward a new, less “secure” direction for full-time professionals … and that was BEFORE COVID-19!
The risk of betting on yourself is ALL relative: Relative to YOU! YOUR vision, dreams, and perseverance. NOT someone else’s!
Next, you may think you’re not qualified, can’t afford, or otherwise don’t have what it takes to be a business owner. Well, that’s certainly possible, as NOT everyone is cut out to be a business owner. However, 70% of Americans want to be, and just don’t know how to get there. Funding a new business has never been easier, and choosing a business that YOU can own and run? That’s where I can help!
Conclusion
The risk of owning and running your own business may well be less than the risk of waiting around for your next pink slip or job offer. And, it will certainly give you more control – now – and well into your career future.
The reality is that many people HAVE realized the risk of status-quo: “The Great Resignation” preceded the “The Great Reshuffle”, and is ushering in “The Great Ownership Revolution”.
Why?
Because doing something on YOUR terms, where you’re the boss, is a recipe for more control. A proven path to this kind of entrepreneurship is franchising: Running your OWN business, without having to “invent” it! Simple – and proven – business models offer relatively low risk, and more control than you may ever have believed possible, and there are many concepts in recession-resistant industries that professionals can run – with their existing skill set!
If you’re curious about how entrepreneurship can work for you, then let’s talk. Assessments, coaching, and identification of your possibilities is what I do, and like an executive recruiter, my services are complementary.
Lower your Career Risk … by taking Ownership of your career.
To your success,
#CareerTransition #JobSearch #CareerChange #Entrepreneurship #COVID19 #CareerOwnership