Don’t lose sight of the economic realities of career decisions!

While we still have skill shortages the prediction is that the economy will slow, and things will get harder in the labour market later this year.
We are starting to see redundancies as some companies pre-empt a slowing market.

Regardless of your current job status, you need to start thinking about how these predictions will affect you.

What are you long term goals? Chasing money and lifestyle have seen many switch roles over the past two years. Will that help you move towards where you want to be, and what are the possible consequences. Now is the time to step back, look at the big picture and make sure that job change is really going to be beneficial for you in the short and long term as we weather more uncertainty.

What are you doing to maintain and increase your employability in the market. Work is changing, are you keeping up and making sure you are still a bankable asset for your employer?

When looking for a career that pays the bills and also aligns with your long-term career and life goals, it’s important to consider:

  • Job security: Look for jobs that are in demand and have a stable outlook in the current and future job market. Consider the potential for automation and outsourcing in your field and whether your skills can adapt to future changes.
  • Personal fulfilment: Consider what type of work brings you fulfilment and purpose, and how it can help you grow in your career. Don’t just chase after high paying jobs, make sure the work you’re doing aligns with your values and interests.
  • Professional development: Invest in your skills and education and stay up to date with industry trends and technological advancements. This will make you a more valuable asset to your employer and increase your employability in the long run. Consider seeking out opportunities for training, attending conferences, or taking on new projects that challenge you to grow.

Be mindful that redundancy can happen to anyone. You might be one of the people who find themselves suddenly being let go this year.

Remember, the higher up the food chain you are i.e., the more technical, specialised your skills and education/qualifications are, the more important networking is. You should be networking now to maintain your reputation and stay connected to what’s happening in your region and industry.

It might help to take a proactive approach and start preparing for your next career move now. This could involve updating your CV, networking with contacts in your industry, attending job fairs, and exploring new opportunities.
It’s important to stay positive and focused, and to remember that many successful careers have been built on setbacks and challenges. Keep an open mind, stay flexible, and be willing to consider new paths and opportunities that may come your way.

Opportunities will still be out there. They will be easier to find if you are prepared and have a clear reality-based idea of what will be the best fit for you and your life.