In recent years, we have seen the economy move from manufacturing-based to service-based and then to more information technology-based, with globalization of business trending a sure path along the way. New and creative business models are being developed every day, many of them centered on reducing the need for large volumes of inventory and large workforces.
Looking ahead, there is little doubt that "change" will be the No. 1 business axiom, with "creativity" following closely. Businesses will redefine themselves over shorter periods of time than ever before, and new and creative business models will mark the way.
Many employers will turn to short-term employment contracts and hire temporary and freelance workers instead of the traditional employment model of full-time "permanent" jobs. If we understand where the economy is going and the nature of jobs in the future, we can understand how to best prepare ourselves for the new economy.
Historically, the quality of manufactured goods became more consistent throughout the world, essentially leveling the playing field. Offering exceptional service was the only way businesses could set themselves apart.
For most businesses, the physical goods are not as important as the service they offer. IBM, for example, views itself more as a service business than a product business.
The massive volume of technology innovations and the growing trend toward globalization created fresh opportunities and yet another shift in the economy.
Whether we accept or reject global warming as a serious issue, going green will become a major economic opportunity upon which many skill sets and businesses will be built.
While it appears clear that service, information technology, green technology and international relations are skill sets that offer a bright future, it is important to remember what happened with the construction industry during the recent recession.
As construction slowed, many workers gave up on the industry and learned skills in other areas. When construction began to recover, there was less competition for the new jobs than most anticipated.
At the end of the day, however, the best preparation for the new economy is to gain skills in how to get a job and how to take charge of, and manage, your career.
The average person going into the job market today will have 10 to 12 jobs (or 15 to 20 "contracts") and two or three career fields in their lifetime.
Our education system is built around being able to get as high as a Ph.D. in how to do a job but, sadly, offers little in how to get a job and how to take charge and manage a career.
Here are five things you can do to best prepare for the new economy:
1. Develop and nurture a large network of personal and professional relationships.
While networking has always yielded the best results for businesses and employment, it will become even more critical in the new economy. Remember, if you wait until you are unemployed to start your networking, you have waited too long.
2. Always have plans for what you will do if your current job or business ends.
Planning for this "what-if" scenario is the only way to ensure you will be ready for changes that will surely occur during your career.
3. Always look for additional skills to broaden and update what you have to offer an employer.
If you own a business, redefine your business before the world forces you to do so. With businesses constantly changing, you must anticipate and prepare for those changes.
4. Always be ready to share a strong biography.
Create a 30-second response to the requests, "Tell me about yourself" or "Tell me about your business."
5. Attend workshops or seminars on how to get a job and how to manage your career.
Both the Department of Workforce Services (jobs.utah.gov) and LDS Employment Resource Services (ldsjobs.org) offer such workshops for free.
While there are clearly specific areas in which the new economy will offer a number of opportunities, the greatest influence on your success will be how prepared you are.
Acquire the necessary skills and be prepared to present them and your business in the best possible light in order to manage your career through many changes that are sure to occur in your lifetime.
Ron Campbell has worked extensively in the job preparation and job search industry. His column appears every Sunday in the Standard-Examiner. He can be reached at 801-386-1111 or campbellrv@gmail.com.
cmiller 18 Sep, 2012
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