4 approaches to rethink your career for the future

Rethinking careers for personal and professional success needs us to appreciate the evolving world of work, workplaces and workforce dynamics at play while aligning to our true North.

A lot has been upended due to the pandemic – how work is understood today, the way workplaces are re-designed to cater to the future and how employees look at their own careers.

What does it all mean for the workforce now and in the future? What does research studies tell us about trends we must take note of? How can we rethink our personal and professional approaches to success at the workplace and beyond?

Trends shaping the world of jobs and workplaces

To begin, let us understand key trends that are shaping careers and the way work, workplaces and workforces are getting disrupted.

·???????According to McKinsey’s report on automation, employment and productivity, a significantly high percentage (60%) of all occupations have about 30 percent possibility of having activities that may be automated.

·???????A worker switches jobs an average of 5.7 times during the course of a career

·???????Just 2 in 5 employees are stating that their firms are meeting all their needs

·???????47% people say they are more likely to put family and personal life over work than they were before the pandemic

·???????54% of managers say leadership is out of touch with employees

·????????70% of talent leaders say the hiring environment is getting harder for knowledge workers despite 58% among the World’s Most Attractive Employers stating they expect to see an increase in hiring over the next 12 months.

I recently ran a webinar for students, faculty and professionals associated a leading management institute and ahead of the session polled their understanding of careers. Here are some of the statements:

·???????“A career is an individual’s ‘journey’ of lifelong learning, working, extensive training and learning new skills”

·???????“Career is for personal growth and livelihood”

·???????“A path for progress”

While they are reflective of an individual’s aspirations, motivations and perceptions, we must consider what careers meant today as compared to earlier. Gone is the ‘one career-all-my-life’ approach to working, unless you are a Gen Z or millennial! According to Microsoft’s 2022 Work Trend Index, 52%

of Gen Z and Millennials are likely to consider changing employers this year, up 3% year-over-year. With job instability, income inequality, demographic changes, evolving economic perspectives and more, the future of jobs looks uncertain.

A career is the sum of who you are, what you bring to the table and how it shapes who you want to be and the place you work. It is journey and takes time to invest, nurture and grow and along the way provides social, financial and psychological benefits.

When asked if they had control over their careers, most participants in my survey claimed they did.?What’s interesting is that, according to studies, the level of control we have at work are bound to others at the workplace. For example, the manager accounts for 70% of variance in the employee’s engagement at the workplace. With just 13% of employees globally engaged inside firms, there is a big onus on focusing on managerial capabilities and in the case of the employee, working with a manager who truly engages. In that sense, whom you work for matters overall.

Developing careers in a new world order

The concept of work is more fluid with immense opportunities and clout wielded by employees on where they work, how they operate, which projects excites them and when they can accomplish their tasks. Financial rewards aren’t always what drives people to be engaged and connected. The avenues to developing themselves as they pursue their purpose in life matters more today.

Not just that, a career doesn’t involve only engaging within. It means extending beyond to connect in a boundaryless manner. As organizations operate in a mutually collaborative environment, how employees can leverage their capabilities and skills to add value beyond the role, function, team, domain or entity. Among key predictors of career success are the perceived ‘marketability’ within and outside the organizational boundary. Not surprisingly, collaboration, problem solving and customer focus are skills most sought after by companies.

Organizations are rewiring their workplaces and repositioning themselves as ‘platforms’ or ‘avenues’ for learning and development resulting in improved results for business. According to Deloitte’s study, organizations that define themselves as great places to learn achieve 23 percent greater financial returns, out-innovate their peers, and endure business cycles far better than their contemporaries. Hiring has also evolved with 60% of businesses preferring to loan or rent people with certain skills from outside, rather than recruiting new full-time workers, a trend which got amplified during the pandemic.

Likewise, the employer-employee relationship has transformed. The earlier approach of competing for talent, adapting to market dynamics and indulging in fulfilling contracts don’t work. ?When employers view employees as partners in the journey to success, the relationship strengthens. The future is ‘together’. In Mercer’s Global Talent Trends 2022 study, the employment contract has shifted from ‘loyalty’ to ‘engagement’ where the focus is on enriching jobs to attract talent and not by providing financial rewards.

Concrete and swift actions are needed

There are however gaps between what organizations think they want and how accepting the workforce is of changes. Despite automation become critical for organizations and technical skills more complex, there is evidence that a majority of jobs still need ‘social skills’ to be performed well. While employee seek movement, learning, and experimentation, executives in organizations are less prepared to upskill and reskill staff.

The manager’s role is evolving with the expectation that there is increased empathy at work from the supervisor. However, only 47% of managers feel they are prepared to lead with empathy, a cause for concern. Hopefully, getting more managers to see this as an area to focus on we can improve how employees view their careers and engagement. Also, the skills gap is widening – based on what employees want and what employers offer. A 2019 study by Learning House and Future Workplace showed that 64% of surveyed employers believe there is a skills gap in their company, rising from 52% in 2018. Apart from the pace of technology change, the lack of skilled professionals who can take on added ownership as well as a limited pool of people when jobs are available.

Nations have taken note of these upheavals and are increasingly aware of the gaps in skills and capabilities. For example, the UK government has assessed and recommended the need for an agile ‘demand-led’ investment to improve employability in the future. ?Not just that, in the highest growth jobs, it is vital to develop and enhance transferable skills. Likewise, schools are realizing the value of connecting students to job related content at an early stage. In a report on the state of career education, teachers were linking subject content (maths and English, for example - 64% and 65% respectively) with the world of work for most students, thereby giving them an advantage.

Likewise, while individualism is key, employees seek inclusive workplaces and leaders. When purpose is core to the organization, employees’ careers thrive. According to Korn Ferry’s Future of Work Trends 2022 report, despite a majority of 64% of organizations realizing the challenge of building diverse and inclusive teams just about 32% are doing much - even worse, very less firms are investing in their leaders to be more inclusive.?

Reorienting your career perspective

There is no one-size, fits-all career model. With work getting even more fragmented, people seek meaning and purpose. Bain’s research identifies 10 dimensions (including work centricity, risk tolerance, mastery and variety) and 6 archetypes (operators, givers, artisans, pioneers etc) of employees providing context on how organizations and leaders can appreciate the evolving mindsets and tackle concerns directly. ?Each of us is unique and our life experiences shape who and what we want to become and achieve.

Managing yourself is important for those wanting to succeed at the workplace. Peter Drucker’s seminal article ‘Managing Oneself’ calls out the need for knowledge workers to take ownership of their own careers, shape it based on the market needs, be agile and stay grounded to survive the tests of time.

A study among senior executives reinforces the value of managing social capital for personal and professional success. Those who felt were successful in their personal lives believed in nurturing rewarding relationships even though for professional success making a difference and a high sense of individual achievement were important.

In essence, to make the most of our career, we need to:

-???????know ourselves and how well we appreciate how others perceive us - determining our future success

-???????reorient our minds about the world of work, workplaces and workforces. No two jobs are the same and no two career paths similar

-???????understand the possibilities and limitations of jobs. Knowing how quickly they can be disrupted can help avoid disappointment

-???????balance the internal worldview with the external one to stay relevant. Your influence beyond the workplace matters more than ever in a 'boundaryles's career

When it comes to careers, you are your only competition. Understanding what works for you, how you fit in and which ways you can navigate changes will decide your outcomes.

#careers #careermanagement #careercoaching #communications #success #personalsuccess #leadership #hiring #managers #socialcapital #boundarylesscareer

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