How to avoid career interruption and build steady flow of income.
Future proofing your career
A quick disclaimer! I do not have any crystal that I can use to see the future, but I know how to observe trends based on information and events going on in the world. The world will continue to innovate and find better ways of doing things, and based on this fact, anyone can make an educated guess about future careers. For example, I’m sure you will agree with me that the world will not go back in time to start riding horses as a means of transportation. We have better, faster, and more reliable options. People will not gravitate to posting letters through post offices to communicate with friends and families across the globe.
Emails, mobile phones have made post office almost obsolete, the world will only embrace other options that are better than these two.
As we continue to look for and embrace new ways of doing things, it is incumbent on every working professional to adopt and learn how to improve their skills to reduce the chances of career interruptions. To future proof your career, you need to learn how to watch trends and identify relevant skills that will put you on a path to career progression with no interruption.
In a recent survey conducted by Monster, nearly 60% of the fully employed Americans between 18 and 65 reported that they were either unemployed or experienced career gaps. And approximately 43% of the survey respondents who had either been fired or laid off said it had happened to them more than once.
Right now, more than ever before, every working professional must find creative ways to future proof their career. A future proven career does not provide a guarantee that you will never experience a layoff, but it does give the assurance that you can quickly rebound and find new employment, and it also equips you with other means of making money during your career transition period.
Here are some key ways to future proof your career
1. Become an adaptable Employee
An adaptable employee is the one who is ready to wear many hats, who is open to and willing to learn new ways of doing things, and who can contribute positively towards achieving organizational objectives. Every employee must become multi-skilled and learn how to perform functions outside their job description to always stay relevant in the workplace. During an economic downturn, if there is ever a need to lay off employees, the adaptable ones are the ones that are often spared because the employers recognize their contributions to the establishment. This, in turn, ensures that they have limited career interruptions.
2. Develop an Entrepreneurial mindset
As much as you need to secure your job with your employer by being adaptable, you must also possess an entrepreneurial mindset. You must not only understand how your employer makes money but also capable of providing creative ways to make more money and save costs for your company. An entrepreneurial individual will easily stand out among his colleagues because of his business acumen and positive contributions to the organization. Suppose you want to future proof your career. In that case, you need to think like an entrepreneur because an employee with an entrepreneur mindset has a better chance of moving up quicker on the career ladder, making him more suitable for leadership positions.
3. Become Freelancer
The future career is not limited to what you do during the working hour of 9 to 5, but what you do after your regular work hours. An employee that wants to future proof his career must learn how to generate side income from a secondary source. One of such sources is to work as a freelancer. There are skills that you have acquired as an employee; you can get on platforms such as Upwork or Fiverr to market your skills and make money in return. All you need to do is create your profile and let the world know about your expertise. By dedicating 2–3 hours every evening to provide service to others, with time, you will be able to build a secondary source of income that can support you in case you ever experience career interruption.
4. Be an Investor
In a world where it is easy to experience career interruption, you can no longer afford not to secure your future. The best way to secure that future is to make sure you are investing in yourself, and you must also invest in assets to provide income for you if you ever have to experience lay off in your career. As you are working and earning income, you must ensure you are deploying your money to work even harder for you. Imagine if you have been working for twenty years, and you have been investing actively, whether its in real estate or stock market. If, within this period, your investments produce a monthly income of $2,000, this money, along with what you earn as a freelancer, can give you a cushion if you ever find yourself in a situation where you are let go from work.
By considering these four ideas, you will be able to future proof your career, and in the case of the inevitable layoff, you will have other sources of income that you can tap into before you can get back on your feet.