š©āš The Evolution of Jobs & How to deal with it?
2024 has been a challenging year for all, especially for graduates and those in late 40s.Ā
š§ļø Multiple rounds of layoffs are happening and repeating.
AI replacing workforce and the supply of jobs are getting lower than before.
ā I used to joke with my friends that if I were fired, I would work as an Uber driver or a Starbucks barista.Ā
Not until HK recently launched driverless projects in the Airport and implementing robotic coffee machines who could even do latte art.Ā
ā Many people always say when technology comes, old jobs will become obsolete and new jobs will be created.
My parentsā generation always tell me āThere is no need to worry about job security - You can always find a job.ā
š āāļø But I totally disagree.Ā
In the future, the total number of jobs will definitely decrease.Ā
This might be a solution to cope with ageing population.
š° However, jobs are important for young graduates because your first bucket of wealth has to start from somewhere.Ā
We need to accept the reality that the world is changing and we need to plan our careers.Ā
šµ We need to identify and learn different ways of making money.
We also need to accept the reality that
Our life span is getting longer.Ā
Our job span is getting shorter.Ā
Tech Firms/Start Up firms rarely hire someone over 45 years old.Ā
I have clients telling me that they prefer younger candidates as they are cheaper, more energetic and creative and can work longer hours.
It is just supply and demand.Ā
š So how should we deal with the new trend of jobs?
š¹ļø While you have a job, it is important to accelerate your career as fast as you can so you can maximise your earning power in a shorter period of work span.Ā
I also encourage everyone to read the HBS article: Managing Yourself by Peter Drucker.Ā
It is important for everyone to develop 2 careers.
1st Career is your corporate career from graduation until mid to late 40s when you are forced to leave the corporate (Unless you are in a stable industry such as government and medical field.Ā
2nd Career is your other career from mid 40s til 60/70 whenever you plan to retire.Ā
Itās always good to prepare early for your job and second career!
š How do you identify ways to make money?
š How do you identify your second career?
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