Changing lanes: The rise of job transitions across industries
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Lt Col MAYUR AMBASTHA served in the Indian Army for more than two decades. But now, the Army veteran is the HR Head at Hyosung Corporation India.?
In fact, he went on to pursue an MBA just before retiring from service. He writes that learning new skills is essential for a veteran to ace a career at India Inc.
But not just former servicemen, more professionals these days are exploring opportunities in industries other than the one where they’ve built their careers. Which are the top industries in India from where people have moved out? And where did they move to?
Rethinking career paths
The top three source industries from where professionals made job transitions between January and March this year were entertainment, consumer services, and wholesale, latest insights from LinkedIn’s Workforce Report shows.?
Krishna Vij , Vice President and Business Head at TeamLease Digital, says, “These three industries have faced significant disruption due to technology, causing the required skill sets to evolve.”
And professionals from these industries come with unique competencies.?
“From the entertainment industry, people offer creativity, strong project management, and a customer-centric approach. Those from the consumer services and wholesale sectors contribute exceptional sales, marketing expertise, and experience in managing inventory and supply chains. Additionally, their strong communication and problem-solving skills further enhance their ability to adapt and thrive in diverse environments,” she adds.
That said, which industries did professionals move to? Professional services, technology, information, and media, and manufacturing saw the most job transitions in India from the three source industries mentioned above, the data further shows.
Sharing why these industries are attracting more talent, Vij says, “The rapid advancement and automation in these sectors ensure growth and stability for the workforce, while also providing opportunities to develop new skills.”
Transferable skills are key
The changing business landscape is making companies reimagine who they are hiring.
For instance, more professionals with tech skills are being hired in traditionally non-tech sectors like manufacturing, FMCG, and banking, says a report by The Indian Express. Banks especially are warming up to tech as more customers prefer digital transactions, the report says.?
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What should those who are looking to move to another industry keep in mind? Independent management consultant Vandana Manwani says, “Beyond knowledge and skills, a growth mindset is crucial — openness to unlearn and relearn is key. Adaptability and a healthy attitude towards failure are vital.”
A recent article by Fast Company shares that there are a few essential transferable skills that can help one thrive across industries. They include critical thinking, good written and verbal communication, curiosity, building authentic relationships, leadership, and sales proficiency, among several others.
The stepping stone to making a move to another industry could perhaps begin with a lateral transition too.?
Neeraja Ganesh , leadership trainer and coach, says, “For holistic growth, it’s important for people to move laterally, sometimes from a team role to an individual contributor role; maybe take a role at a lower grade in a different department or industry, or work under a younger manager. Most CEOs do short stints in HR or finance so that they understand the functioning of everything before they get to the helm of the organisation.”
Hospitality checks-in to hiring
While job transitions across industries have emerged as a noticeable trend, some sectors in India are hiring more than others.
Accommodation and food services is the fastest-growing industry in India when it comes to job postings in March 2024, compared to the same month last year, according to the data.
A recent study by TeamLease Services estimates that around 200,000 jobs will be created in the hotels, restaurants, and tourism sectors over the next 12-18 months. Over half of them are expected to be within the hotel industry, which is looking to cut its high attrition rates.?
CS Ramachandran (Ram) , VP - Hotel Revenue Optimisation at Preferred Hotels, says, “A robust demand recovery and emergence of new hotels across the country, is driving the need for professionals across all levels in the industry. Roles centered on customer acquisition, retention, and exceptional experiences are opening like those in sales, marketing, and guest services.”
Methodology: The top transitions out of an industry is measured as a share of all transitions from that industry. The period of analysis is January to March 2024. On the other hand, the job postings analysis looks at the year-on-year change in the share of jobs posted in each industry as a share of all job postings on LinkedIn calculated based on a three-month rolling sum. The period of analysis is between March 2023 and March 2024.
??: Abhiraj Ganguli
??: 黄垚 , LinkedIn Economic Graph
Ex Spl Chief Engineer, PWD, TN | Consultant - Project Estimation, Retrofitting & Renovation . expert in building valuation
1 个月i prefer to share my vast experience as a guiding light to the needy for their future
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2 个月Most of the individuals get bored or feel that they have lost interest in the careers that they have been undertaking often for years. Doing the same trouble home or chamber without sharing the same crucial values can make one disheartened, and helpless, devoid of aspirations, and in need of massive changes. In addition, there has also been a constant need due to thirteen factors. Strong research and analytical abilities are key, as one must thoroughly investigate potential new industries, understand the core requirements and skills needed, and assess how their background may or may not translate. Excellent communication and interpersonal skills are also vital, as networking, informational interviews, and pitching one's transferable talents to prospective employers become essential. Flexibility, creativity, and a growth mindset are important too, as career changers must be open to reinventing themselves, acquiring new knowledge and capabilities, and embracing a steep learning curve. Finally, resilience and perseverance are crucial, as the process of switching fields is rarely seamless and often involves setbacks and challenges along the way.?
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2 个月In today’s dynamic professional landscape, the once-linear career path is rapidly giving way to a new era of cross-industry job transitions. As individuals seek to align their passions, skills, and values with their work, the traditional boundaries between sectors are blurring. This shift is not just a response to economic changes but also a reflection of the growing desire for personal fulfillment and adaptability in an ever-evolving job market. Professionals are increasingly embracing the idea that transferable skills and a growth mindset are the keys to thriving in diverse fields, leading to richer, more varied career experiences.
An HR trying to woo the LinkedIn algorithm : A love story of networking and engagement!
4 个月I feel like if you really want to switch to any other industries despite of the fact that whether you have the particular skill or not you still can do it because “Intent” is important. If you have agility to learn and grow you can easily switch to any industry. So Intent is the turn around factor!
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4 个月Transitioning to a new industry can be both exhilarating and nerve-wracking. It’s like stepping onto a fresh canvas, armed with your existing skills and a palette of curiosity. Remember, you’re not starting from scratch; you’re remixing your expertise into a new melody. Embrace the learning curve: expect moments of uncertainty as you delve into the intricacies of your chosen field. It’s okay to feel like a novice - every expert was once a beginner. Forge unexpected alliances: connect with professionals who’ve walked the path you’re treading. Share stories, swap insights, and find solace in their experiences. Celebrate small wins: transitioning isn’t about grand leaps; it’s about steady progress. Each milestone - the first industry-specific term you grasp, an insightful conversation, or encouraging feedback - adds up to a remarkable transformation. You’re part of a vast community of dreamers, doers, and switchers. So, chin up, heart open, and let the adventure unfold! ???