I remember that several years ago, I had a lucrative job offer, after thinking about it for a while, I decided to still stick with my employer primary because I felt the new job didn’t provide me the stretch and challenge I needed to grow.
Interestingly when I shared my dilemma with a few family members, they also felt I didn’t have to move jobs, mainly because the then current job provided more job security than the new offer.
Job security has been a big deal among especially the older folk. Interestingly the world has rapidly changed and the whole halo around job security is faded.
The truth is that there is no longer job security (except the few Government low paying ones strangled by bureaucracy and inefficiencies) which may eventually be privatized because Government can no longer sustain it.
So why should you forget about job security when making career choices in this modern era?
STAKEHOLDERS & BUSINESS OWNERS DON’T FANCY JOB SECURITY
The last thing on the mind of big corporations is providing job security for their employees.
When it is all said and done, it is all about meeting the bottom line and guaranteeing the investments of shareholders and partners.
There are primarily two ways of achieving sustained growth in a business. One is growing your market share and the other is cutting costs. Corporations no longer have the luxury of transferring costs to their consumers, because if the many other options available to the consumer.
There are a lot of external factors like the economy, competition activities and regulatory bodies which can impede your growth ambitions; therefore where big corporations have developed an immense appetite for is cutting down costs.
As much as they say that their greatest assets are their employees, the same employees are the easiest targets when cost cutting conversations pop up. This is not evil in any sense, it is called productivity.
Any time a different corporation figures out how to get more output with less human interventions, other corporations will follow suit. It is a cycle which won’t end.
When the likes of General Electric, under the leadership of former CEO Jack Welch committed to driving the productivity agenda, it totally transformed their business and made GE immensely profitably and the talking point on the corridors of Wall Street. Same can be said of other companies like Toyota.
Other multinationals have jumped into the fray of productivity and will stop at nothing until they can squeeze every possible dime they can get from their investments.
So in the end, fewer employees would be required to do more jobs, with the help of software analytics and automation. Job cuts will continue and more employees would wake up one day to discover that their most coveted jobs which was a source of pride and confidence has evaporated into thin air
MILLENIALS HAVE EMBRACED THE REALITY ABOUT JOB SECURITY
It is amazing how most of the younger generation don’t fancy hanging on to the same jobs for long. In the USA, the average length of year’s people under thirty stay in one job is about three years!
The same wave is blowing to other developing economies.
With the advent of the internet, most young guys prefer to do their own business. A lot of entrepreneurs under 30 yrs are found all over. This generation wants to be the masters of their own fate. For them, it is all about finding ways to provide quality service to prospective clients at an incredibly affordable and convenient way, and your clients will handsomely reward you with the tag of a millionaire.
Besides the profits they could amass over a month once they breakthrough might be far bigger than a lifetime of earnings when they gets stuck in the traditional 8am -5pm jobs
Another reason why Millennials crave for entrepreneurship is that it affords them the opportunity to leverage all their talents instead of a boring role profile that limits your abilities in a regular job.
Freedom is also priceless for the millennial. They want to work when they want to, at where they feel like. You can virtually run a business successfully on your smart phone while sipping some coconut juice at the beach. What else would a mortal man desire apart from this?
I personally fancy that in some few years to come, regular jobs would have to heavily incentivize their employees to stay up to even 5 years. The days of employees taking pride in the fact that they have been around for decades is gone!
YOU CAN’T GUARANTEE YOUR JOB SECURITY BUT YOU CAN GUARANTEE YOUR OWN SECURITY
Well, for those who still have a thing for working for these big multinationals, you would have to focus o building your personal brand. You should aim to become the specialist or consultant with different talents who works with multinationals.
Ask yourself that if you were to have your own personal complimentary card, what will you put on it? You can’t put on it that for eg. Yaw Manu, “Business Development Manager, Ecobank”. Rather it should be something like, Yaw Manu, Finance Expert, MBA, CPA, Business Development Strategist, Start Up Consultant etc.
Once you are done with this exercise of creating your personal complimentary cards, ask yourself, what development areas you need to focus on in order to build the necessary expertise you are tagging yourself?
When you are able to close the development gap, you would have just insured yourself from any catastrophic job loss from your employers. You will be putting yourself way up there and ensuring that you are at par with all the key trends in your industry.
So in summary, no job is secure nowadays, therefore find time to experiment with your passions till you have figured out how to generate revenue from it and then also be industry focused instead of job focused, investing in yourself to become that talent every multinational would love to covet.
I wish you all the best
From the desk of ROL