To build a solid career plan and find the job of your dreams, you will need to be part of the job market. Your plan can only be successful if the economy provides the jobs you're targeting and if your profile corresponds to the criteria associated with those jobs.
In a strong, dynamic job market, employment supply and demand is well-balanced.
As societies evolve, new challenges in the economy arise. We can expect a multitude of new variables in the years ahead for a number of reasons outlined below.
Are you playing your cards right? Which cards do you have up your sleeve? What are your trump cards? What are the wild cards that will require all of your attention?
The Job Market is Changing at an Increasing Rate
In the employment market, everything changes quickly and at different levels! This change is happening even faster, as the global market has led to increasingly dynamic transformations. It no longer takes a decade for what happens in the U.S., China or anywhere else to spread all over the world!
Professions Appear and Disappear
First, professions are changing very fast. Some disappear, others appear.
The delocalization and outsourcing of some sectors means they’ve virtually disappeared in many countries. For example, offshore call centers in Morocco, India or elsewhere.
Most digital jobs were nonexistent 10 years ago, but they’re now a significant source of employment in a fast-growing sector.
Digital Technology is Revolutionizing the Way We Work
Many professions have been transformed within the last few years by task automation. Time is saved and productivity is increased, even if upgrading skills can be challenging in some low-skilled working environments. It’s said that by 2030, 50% of all occupations will radically change or even disappear because of task automation.
Examples of jobs that will change with advancements in robotics include pharmacist, security agent, taxi jdriver, warehouse worker, doctor, surgeon, waiter, production line worker, teacher, among many others.
Even recruitment agencies and HR departments are concerned, as many software programs can already source and select job candidates.
We’ve also seen that certain jobs such as insurance contract writing and some accounting and banking professions are disappearing.
In industrial settings, manufacturing jobs have suffered most.
We’re on the cusp of mass use of data and artificial intelligence. A fundamental revolution in how work is organized is underway.
Digital technology also makes remote work possible, thereby expanding many people’s options and developing new ways of working. The concept of working from home is now standard in many companies, and has also led to a rise in the number of freelancers.
Young Talents Can be Difficult to Attract
Large companies no longer hold the appeal they once did!
Talented young people are more discerning about the quality of their working environment, management styles, flexible hours and work-life balance.
They are also more apt to change jobs when they’re bored or when their current lifestyle doesn’t suit them.
Permanent positions are considered to be a holy grail of sorts. In emerging digital companies, there may be many job offers that are somewhat less well-paid but nevertheless attractive because of the work experience they offer.
Several alternatives appeal to young talents, such as
creating a start-up, often joining a co-working space or business incubator.
launching a micro-business to work collaboratively yet independently.
having “portfolio careers,” i.e., working several part-time jobs.
What interests them is learning, meeting, experimenting and adapting.
The Start-Up Boom
Faced with hesitant or hyper-competitive companies that are often too demanding, digital natives (people born after the widespread adoption of digital technology, like the internet and mobile devices) prefer to start their own business and become CEOs or managing directors.
To obtain a permanent position, young people increasingly must have held or experienced internships, work-study programs, previous employment, or even micro-businesses. The increase in temporary employment contracts is due to many factors, including decreasing job security and a decline in employers' willingness to commit long-term.
It’s easy to see why working in start-ups and being part of their creators’ adventure appeals to those who want challenges and responsibilities, as well as the chance to put what they have learned into practice and grow with the company.
Today, even highly qualified professionals are leaving the corporate world and turning to new projects connected with manual occupations, making a new start and becoming bakers, beekeepers, woodworkers or plumbers.
Let's Recap!
The job market is the crossroads between job offers and jobseekers.
Unemployment still affects large numbers of young people, despite the growth of schemes such as work-study programs.
Opportunities exist in the U.S. as well as in some shortage occupations where potential candidates are highly sought after.
Regional disparities are increasing. Large cities where people “live well” centralize the most employment and infrastructure.
The job market is transforming at an accelerated rate. The digital economy, robotics and company relocations are causing many professions to disappear and new ones to be created.
Large companies find it increasingly difficult to recruit and retain young talent.
The start-up boom has generated a unique job market that should be explored!
The job market is constantly changing, becoming more and more dynamic and globalized. You will need to be alert, identify emerging sectors and study the trends, job offers and salaries of the market sector that interests you.
Job supply and demand may differ from one region, profession or sector to the next and can be difficult to navigate. It's up to you to make the choices that fit your personal ambitions. Sometimes you will have to make decisions, set interim goals to gain experience, save up and develop skills that will allow you to land the job of your dreams.
