Top 5 career trends and their impact on business

After all, new market trends are coming. They will affect both career development and business in particular - in short, our entire life. As an expert in this field, I advise you first of all to pay attention to the 5 leading market trends, keep an eye on them and take advantage of them!

Trend #1. Career planning as a result of turbulence

You've probably heard about the scientific theory about the inevitability of climate change? So that climate is changing in absolutely every sphere of our lives, as you can see in such phenomena as increased migration, economic crises, the exacerbation of various conflicts, and even pandemics. Undoubtedly, all this also has an impact on the labor market. The only way to gain a little bit of confidence in the future is to develop your career. More precisely, to plan it correctly! Moreover, taking into account many twists and turns so that no new crisis will unsettle you. When you have a clear plan of action at hand, you always know how to get from point A to point B, regardless of the circumstances.

What does this mean for companies?

Tristram Hawley is a career development specialist, who believes that companies should prepare for increased turbulence in the labor market in coming years, as it will certainly affect all market shares. For example, companies' priorities in the given environment should be to develop their employees (especially their critical thinking) and maximize innovation in all business processes.

Trend #2. Building skills as a result of globalization

Globalization is perhaps the most destructive phenomenon for the careers of millions of people. Regardless of your role, your skills, or your industry, you will have to face the impact of globalization on the labor market. What exactly will this influence be? Relocation of a vast number of specialists will significantly increase competition even among those who have never thought about bringing their career to the international level. Thus, we will have to compete not only with professional compatriots, but also with skilled migrants, and their competencies may be much broader due to the labor market conditions in other countries. That is why understanding the trend of globalization is very important when planning and developing your career. To keep your place in the future, you need to take it firmly right now, be proactive and, thus, develop your skills three times faster than they are developed in the rest of the world.

What does this mean for companies?

In this case, I would advise companies to invest in international relations and startups. If possible, introduce elements of intercultural understanding into the culture and diversify their teams with foreign employees. International teams are an excellent stepping stone for taking the company to other geographical regions of the world. In this regard, this is where we started at Lectera, as in our team we have more than a hundred employees from 15 countries! Thanks to this approach, the company will easily settle in during globalization and, in addition, open up new market paths.

Trend #3. Changing professions as a result of automation

New technologies emerge every month and are rapidly becoming part of our daily lives. Are you sure that in a couple of years your work will not be performed by robots? For once also cashiers were considered indispensable, and now they are under threat of 'extinction' due to self-checkouts. Your career development should take into account such moments as the possible disappearance of certain competencies that you hold. If there is a risk that some of the competencies will soon go to machines, it's time to expand it or replace it with a new one that belongs only to a human.

Do not forget that artificial intelligence does not stand still! The McKinsey report says that the use of AI allows businesses to serve more customers, reduce costs, but at the same time increase profitability and market share. This, however, in turn, arranges a real leapfrog in the workplace and hard skills. Therefore, soft skills are also coming to the fore - skills that are unlikely to be instilled in AI in the near future. In addition, one hundred percent way to bypass automation and AI in the labor market is to leave the obsolescent occupation and master the growing ones.

What does this mean for companies?

Do not rush to rejoice in the positive influence of AI, which I described above! After all, only large companies can afford its full-scale implementation. At the same time, medium-sized and small startups should have time to adapt their employees to new realities, that is, to increase their competitiveness. To do this, preparation for automation must be part of daily corporate learning. For example, gamify it or conduct change management activities. The most important thing is to keep staff interested in innovation and to provide opportunities for the development of new skills, including work with automation and new technologies.

Trend #4. Increased value and speed as a result of personalization

The approach to career-building as a universal process that applies equally to all professions has long been outdated. To succeed now, you must have a personal career plan built around your individual growth points, competencies, and expectations. Today, according to the Director of Fast Company (with whom I agree), a successful career is built on three principles:

• High speed of learning pace. The development of new skills should be ongoing and in the shortest possible time, but the choice of specific skills must depend on your own career goals. Even within the same profession, the set of necessary skills can vary!
• Consistency of goals, strategy, and external factors. You should develop your career systematically because a career is like a formula that consists of special variables. Do you know all of them right now?
• Self-awareness. One might say that it is a search for your unique competitive advantage - what makes you a professional and what no one else has.

What does this mean for companies?

Create engaging and useful content using a corporate website or social networks that will help employees with professional orientation and the search for mentors, because mentoring is indispensable in career development. I always recommend it to those who dream of rapid professional growth, because there is nothing better than borrowing the practices of real professionals. Employees with an experienced leader develop much faster and deliver more stable results for the company.

Trend #5. Personal brand as a result of branding demand

Career development must certainly include the development of a personal brand! After all, a personal brand is the best reinforcement of your professionalism and expertise in your niche. Specialists with a personal brand are paid more - and that's a fact. Moreover, there has long been a stable demand for a "name" in the world: people are more willing to choose products from well-known manufacturers, and they also choose well-known specialists. Any personal brand starts with a clear image and self-promotion, as well as, of course, competencies in which you have to substantially overtake competitors.

What does this mean for companies?

Nothing really, except that you should choose professionals with a developed personal brand when recruiting.

Market trends inevitably affect how our careers will develop in the coming years. That is why to keep a hand on the pulse and monitor all world trends to take them into account in the planning of your career - a must-have for those who intend to achieve professional success. I've told you about the most important trends in career development for the moment, but don't relax yet! Who knows what tomorrow will bring?