Is it Time for a Career Pivot?
Is this the right time for a career pivot?
Let’s be honest, the world has changed, including in Asia.. That’s why you have to prepared for a different working world. Previous blog posts have talked about the possibilities of a recession. Well, that’s here now. The trouble is, whole industries are going to change dramatically. That’s why you have to be thinking in a more far-reaching way than you might have before.
You may think that you are the best thing since sliced bread doing your current role. But it’s not always down to you as to whether that’s relevant. Sometimes the market decides, particularly in a crisis.
Change will continue to show up. Just ask some of the great brands of recent decades: Motorola, Nokia, Xerox, General Electric and Blockbuster. Some are no longer with us. The others are shadows of their former selves. Ultimately, if you were a salaryman that showed undying loyalty to one of these organizations, you would have seen the impact of change.
We are now on the cusp of massive change again. It was happening before the coronavirus shook our worlds. COVID-19 has simply added jet propulsion to the proceedings.
If you’re working for a bank (or working anywhere for that matter) you’ve got to take a long hard look at where you are now and where the industry is going.
So, what can you do if change smacks you in the face and a career pivot is your best or only option?
Take Inventory
It’s time to look at the skills you bring to the party, any party. This will be a mix of technical and soft skills, transferable, and not. It might help if you try out some strengths-based questionnaires.
You’ve also got to take a look at what you’re good at and what you like to do. See if you have a single point of failure that requires you to seek a career pivot.
In an ideal world, your career pivot should at least keep you engaged.
Observe, Don’t Forecast
This isn’t so much about forecasting. Not everyone has the foresight to predict what the future might look like.
Another way of approaching this is to simply observe. This is an approach that billionaire investor George Soros is said to apply. Look at what’s going on in the world. Look at what’s going on in your industry.
For example, there are so many overarching trends that is already starting to impact the industry: artificial intelligence, machine learning, social-responsible investing (SRI), cryptocurrency, cybersecurity, blockchain and so on.
Take a look at job adverts. What type of roles are you seeing popping up? If you’ve been in your role for several years, maybe the shift in the market will surprise you. Where are the opportunities? What’s the addressable market? That’s what this exercise is about.
It can help you come up with a thesis about where the world is going and where you fit in.
Skill Build
Based on the above two areas, where do you see glaring gaps for a career pivot?
It’s time to upskill. Some skills can be learned on the job, others may be through formal training, while others may be self-directed learning online.
Regardless of where the inspiration comes from, it’s important that you design your own learning program with a targeted approach.
This is also about playing the long game. Any investment now is intended to pay-off over the longer term. You need to have the tools for when the interviews come around.
Work It
Now you’ve got the skills, it’s time to make use of them before your career pivot. It’s got to be more than just having the principles. It’s about putting it into practice.
See if you can use them in your existing role. Alternatively, if there’s a way in which you can apply them through a side hustle or voluntary work, all the better.
Pivot
Ok, trying a career pivot all in one go might not be straightforward. For example, it’s not simply about walking into the first job you apply for. This could take a bit of trial error. This could require a fair bit of research. You may have to be flexible in what role you’ll accept and what type of organization you’re willing to start with. You have to adapt to stressful situations.
You also need to have a narrative in place that explains the shift on your resume. And make sure your new resume and LinkedIn profile reflect that. At the end of the day, prospective employers have to be able to think that you can actually do the job.
You’ve also got to keep in mind the power of networks. This can help get you backdoor introductions.
