The trepidation around job security has always been present. For a long time, the uneasiness was mainly due to human competition, and it still is. This concern is now more prevalent than ever with the significant increase of talent in the job market. With the emergence of technology, most recently AI, as well as the extreme inflation we have experienced in recent years, there are new factors to consider for those looking for new job opportunities or concerned about their current position’s longecity. For these reasons, uncertainty about the next steps in your career is absolutely valid. In this article we look at both practical and emotional ways to navigate these obstacles in order to find success.

Competition

As the workforce becomes increasingly more competitive, the need to have relevant skills, education, and confidence is more important than ever. This is especially challenging if you’ve been in one role or at one company for a long time and find yourself looking for new opportunities. A seemingly small difference in candidates could mean a career-changing outcome, regardless of your aptitude or previous experience. When considering your future, in today’s job market, you must ensure you stand out from the crowd in more ways than one.

• Education: Always be learning – you can never be too educated. In order to give yourself the most opportunities, enroll in online courses, participate in webinars and/or do your own research.
• Networking: Spend time meeting with and learning from professionals across all industries. Personal connection in these technologically advancing times is crucial.
• Mindset: Keep an open mind when it comes to your career trajectory. In the ever-changing business world today, being able to transform your skills to pursue a new direction can open many doors. Have the confidence in yourself to accept new opportunities with an open mind.

Inflation

In recent years inflation has made a significant impact on all aspects of our life. Since April of 2021, essentials like groceries, utilities, and gas have increased by over 20%. As the cost of living increases, employees seek higher wages in order to afford their lifestyles. Employers are then faced with the choice to increase wages or risk losing a valuable team member, which would require them to spend money on hiring; an unwanted cost when their spending power has likely decreased. On top of that, inflation can cause a gap in the talent pool – the rapidly changing economy and inflationary pressure have made some skillsets obsolete while also creating a need for expertise in new areas. What does that mean to someone looking to change career paths?

Employers are looking to fulfill the evolving needs required by their company without breaking the bank. That means, unfortunately, they may be more likely to gravitate to fresh graduates at the beginnings of their career, with new skills and lower salary expectations. To navigate these challenges, identify what those new skill sets are and try to set yourself apart by becoming an expert at them- be the talent that is sought after in the advancing workforce.

Artificial Intelligence

We all know and love certain aspects of the infamous AI. We ask Siri, Alexa, and Google what the weather is going to be today or what the score of the big game was last night. AI has been seamlessly implemented into the workplace and the possibilities are effectively endless when it comes to its capabilities, rendering it quite intimidating to those on the job market. In managing this competition with regards to the sustainability of our careers, it is imperative that we learn to live with it. Innovation in technology doesn’t have to mean human function is being replaced. Learning to work with technology instead of against it will allow us to achieve our professional goals even more efficiently. There are certain tasks that just can’t be done by a machine. Workers who can learn to complement AI and perform tasks beyond its capabilities are those who will succeed. These are called 21^st century skills and researchers classify competencies like communication, creativity, collaboration, and critical thinking under that category. Developing and specializing these skills will allow you to compliment the capabilities of AI in the workplace and make you a better fit for new or alternative opportunities.

In conclusion…

It can certainly be overwhelming, going up against the likes of artificial intelligence and an increasing competition pool within the workforce. On top of all the ways you can counteract these hurdles and stay relevant, you can also take these changing times as an opportunity to look at new prospects across the business landscape. Stepping outside your usual sphere and looking at franchise opportunities or working for yourself may be your best protection against an unstable job economy.