While jobs are where we make our regular money we live in a world of change. We all need to know how often to do job pulse checkups. This means there are many things that impact our future income.
No More Gold Watches
In a recent report at Glassdoor they cited that 15 jobs are on the decline over the next ten years. Many of them will decrease job position count by as much as 50 percent. Gone are the days that you found a good job and work it till you retire. Gone are the days that people get Gold watches for years of faithful service to a company. Yes, that was a thing in the past. Looking for an article talking about this took me back to year 2000 at the New York Times. There is a more recent article in Forbes from 2013. This tells me that even the more affluent companies have left off from this classic tradition.
The current job according the labor statistics is under five years and declining. This means all of us should do an annual checkup on our place of work. It does not mean to be paranoid, but it does mean we need to start thinking more like farmers. We need to watch our crops and see how things are going year by year. Where we check on how things are going depends on what our job is, and we certainly do not need more email flooding into our inbox every day just because a source gives us good information we need to look at once a year. We do need a calendar or reminder system that will trigger looking at a reliable interval.
Here are my suggestions for general audience. Your situation may vary.
- Figure out the interval your industry might change.
- Don’t put all your eggs in one basket. This can apply in several ways. The only solution here is not multiple jobs. But, you might develop a skill and volunteer in a community organization to establish your abilities. Think creative like that.
- Have an emergency fund, and get out of debt. If you choose to use debt, don’t think it is safe to use all the debt you can get.
- No, debt is not a completely different thing for a business than it is for an individual. If your company is heavy in debt then your future is more at risk there.
- Plan! You are allowed to pivot. A plan is to give you direction, not limit your options.
- Don’t just dismiss significant changes, and don’t be afraid of news either. When you hear it prove if it is true and adjust schedules and plans as needed.
- Watch out for hubris. This means don’t be a know it all. Don’t think you are the exception. Again, don’t be paranoid either. Just follow reason vs rationalization.