That feeling like we're in a recession even though all the standard metrics show we're not? What we're experiencing is actually a global slowdown in white-collar hiring. There are currently not enough suitable jobs for the hundreds of thousands of people who have been laid off. Some jobs aren't returning thanks to AI, automatisation and restructuring.
What does this mean for you as a working professional?
With massive layoffs happening to nearly every big company around the world, the consequences affect:
🔴 Job security
White-collar professionals now face the highest risk of being laid off (middle management and roles are being eliminated for being non-essential)
➡️ Advice: start meeting relevant people in your industry to get yourself known, as these will most likely be the same people who could help you land a new opportunity in the future.
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🔴 Career growth
Opportunities are scarce, and people hoping for career advancement will be disappointed.
➡️ Advice: be ready to explore careers that are different from what you are used to. Do contract work that provides you with something on the side and gain experience.
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🔴 New skills
Thanks to fast tech developments, many tasks are automated, and professionals need to acquire new skills almost constantly.
➡️ Advice: start learning skills that are typically not part of your skill set. It's good to gain expertise in areas that complement emerging technologies or acquire leadership skills to gain a competitive edge.
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PRO TIP:
The 3 most important tools in your job-searching toolbox must be perfected and used daily:
1️⃣ A resume that is targeted and appealing to read
2️⃣ A fully completed and stand-out LinkedIn profile
3️⃣ Networking in person and online (i.e., LinkedIn)
Without these 3 things, one's job search can continue for months.
Don't wait too long if you need professional support. 🍀
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