Is ONE-JOB-FOR-LIFE Concept dead?
Several successful executives bet big on ONE career, ONE Opportunities, battled to huge success. From Mark Zuckerberg (successful computer programmer and internet entrepreneur for Facebook) to Bill Gates (creator of world’s largest software business, Microsoft) to Warren Buffett (the most successful investor) and so on and so forth.
However, do you also believe that for every winner, there will probably be at least 8 – 10 losers, whose bitter stories most of us won’t have a chance to learn about.
Moreover, in the recent years, there is a shift in the employment patterns. Do you realize that more and more of your friends are on contact basis; part time basis; which forces many to be suffering from down time and very irregular working patterns. In short, lack of proper full time job. This employment revolution has taken to extreme lengths by some employers as they moved from permanent full time job concept to part time / contractual term jobs, that offers employers more flexibility and cost control in view of the volatile and challenging business environment.
This huge transformation doesn’t seem like going to end anytime soon. The establishment of Singapore WDA (Workforce Development Agency), the Singapore WSQ (Workforce Skills Qualifications), the encouragement for CET (Continuing Education and Training) are established to assist members of the workforce to be on our toes, and be ready to venture into new career to stay employed.
The question now lies in:
1) Should we continue to bet on one job/career?
2) Should we lower our risk by building ourself with a career portfolio to widen out employ-ability?
I have heard from friends with a full time job, who is now taking a test to be a part time financial adviser at the same time.
I have heard students holding an executive level role, who has also registered himself with Uber.
Are these conversations getting popular and common?
If you too are looking to build a career portfolio to diversify your risk and avoid being unemployed one day, here’s what you should be doing:
1) Find out what you can do with your current knowledge and skillset to expand your employ-ability / generate additional stream of income
Example: If you are in HR, you could also be a trainer and coach for resume writing and interview tips, be a writer for such books, be a teacher in the field of HR, be a consultant in the area of HR matters for corporations, develop business ideas as an entrepreneurial, be an investor to grow your money, etc.
2) Build up the required skills / network to boost up your employ-ability.
Example: If you wish to be a trainer, start networking, horn your presentation and speaking skills. If you wish to be a writer, you should start soon, as it takes time for your books to get onto the shelf and generate income for you. If you wish to be a consultant, understand what it takes to be a consultant, have your consulting kit ready.
TIPS: Do not procrastinate. Usually, when you need the skills required, it is often a bit too late. Watch this video to understand the rationale behind.
3) Have anchor ‘tenants’ to ensure you have a steady flow of income from one or two core main work source.
4) Have a rainy day fund to keep you afloat for six months, and be properly insured in the form of medical insurance, life insurance, mortgage insurance.
To pen off, understand that change is the only constant today. We can either resist it, or embrace it. the choice is all yours to make. As the saying goes:
“Variety’s the very spice of life that gives it all its flavour” William Cowper.
Here’s another interesting and meaningful one.
“All wines should be tasted, some should only be only be slipped, but with others, drink the whole bottle” Paulo Coelho.
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