Are You Thinking Long-Term About Your Job?
Building Startups by Ajay Yadav
The ‘No-BS’ BS Newsletter
Are You Thinking Long-Term About Your Job?
85% of workers worldwide fear being laid off in 2024.
LinkedIn recently published a story that opened with this statistic. A majority of the layoffs are concerned with the tech industry, with about 260,000 tech workers losing their jobs in 2023.
The year of rapid tech innovation also became a year for increased layoffs. And even beyond tech, many employees were blindsided with several companies cutting long-term employees, restructuring without warnings or even eliminating entire divisions.
It’s natural to feel anxious in this very volatile space. If you find yourself wondering if your current career capacities are future-proof, I hope some of what I discuss here helps:
Using Your Anxiety to Do Great Work
I came across this post where Morra Aarons-Mele shared a snippet from her interview with Bonnie Hayden Cheng, Associate Professor of Management and Strategy and MBA Program Director at the HKU Business School, University of Hong Kong:
“You can use your anxiety to do great work. Research shows when you get adept at learning how to manage and use your emotions, you can use your anxiety to create forward looking, strategic plans. Another key part of anxiety is that it makes you more alert. When you're in a situation that requires deep attention to detail, that requires that concentration and that focused energy – and you can channel your hypervigilance into productive work.
Job insecurity is a situation characterized by high uncertainty…This can actually intensify motivated action. A salient example of this is the tenure system at academic institutions. Job insecurity is a driver of high performance for pre-tenure faculty."
Bonnie Hayden Cheng
Build an Adaptable Career with Flexibility
9 out of 10 employees in India are considering a new role in 2024. This is also something the report stated. So how are these people adapting to hunting jobs in a dynamic environment?
Changing the job search approach altogether. 72% said that they are now looking to experiment with the ways that they approach and present themselves, like video and digital portfolios.
Collaboration is one of the hottest tools employers will be looking at in 2024. People will acquire new degrees, certifications, and improve their soft and hard skills in order to gain control over their future, upward mobility, and job security.
Adaptability in one’s career can should also be achieved with building personal/professional brands. About 79% of professionals are increasing the content they post on LinkedIn, and 83% are becoming more engaged in expanding their professional network.
Better Financial Judgments, Flexibility with AI
I’ll talk a lot more about investing habits that I have observed and developed over the years, and I have already talked a lot about AI in 2024.
So here’s yet another number for you to consider:
About 81% of interviewed employers said AI can help make their job hunt more efficient.
Integrating AI in not just the hunt but also the up-skill is an upper hand you will CONTINUE to have.✅
Let’s end on some positive news.
The foundit Annual Trends Report projects an overall hiring expansion of 8.3 per cent for 2024!
So while the boom is uplifting, I want you to take all of these considerations into account if you haven’t.
Keep building, keep upskilling. I’ll see you in the next one!
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