How to future-proof my job and improve my job security?
We know that the demand for workers who perform routine and manual tasks will significantly reduce over time through the use of automation and artificial intelligence.
Instead, there will be an increase in demand for workers who will spend significant amounts of time focusing on people, solving strategic problems, and thinking creatively.
The key to understanding future job security is the need to solve complex problems, creatively finding new products and services through innovations, and social interaction at a human level as more machines come into contact with our lives.
The steps to future-proofing your job and improving your job security:
1. know what’s happening in your own country and geographical location
2. know the impacts on your industry
3. know the impacts on your occupation or vocation
4. know the impacts on your skills
5. know which employable skills to develop.
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Here’s a checklist to start your environment scan:
1. What is the projected population growth in the geographical area I am currently living or working in over the next 5 to 10 years?
2. What is the projected infrastructure spending in the geographical area I am currently living or working in over the next 5 to 10 years?
3. What are the planned developments in the geographical area I am currently living or working in over the next 5 to 10 years?
4. Is the geographical area I am currently living or working in has more than three main industries or employers?
5. Is the industry I am currently working in projected to grow or decline over the next 5 to 10 years?
6. Is the job function I am currently performing projected to grow or decline over the next 5 to 10 years?
7. Is there employer demand for my skills and experience over the next 5 to 10 years?
8. Is my current employer projected to be in business in the next 5 to 10 years?
9. Is my job turning from a full-time employment to a part-time or casual employment in the next 5 to 10 years?
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Know what’s happening in your own country
World and country specific economics can have significant influences over governments, industries, sectors, and job markets. Population growth and government spending can also impact the long-term stability of any job market.
Being informed about economic, demographic, and social trends in the country you live in can go a long way in understanding and predicting what may happen to jobs into the future. Jobs come from small business, big companies, and government. In particular, you need to understand how external factors can impact the sustainability of your industry, job, and career.
Know the impacts on your industry
The next level down from the country level is for you to understand the status of the industry that you are currently working in. Appreciate how technology and other factors could impact your industry. Some industries will be more heavily impacted than others. Each industry will ultimately be affected in some way or form by automation and the use of artificial intelligence.
The Future of Work community outlines five industries that are going to be most heavily impacted by automation:
1. Medicine or healthcare – Artificial intelligence in healthcare is already being used to crunch Big Data and provide better diagnoses for patients. Robotics is already in used for more precise surgeries and diagnosis.
2. Manufacturing – Manufacturing jobs have been on the steady decline for the past several decades when we used technology to manufacture products. Artificial intelligence will only accelerate that downward trend even further into the future.
3. Transportation – Self-driving cars have been a big advancement. It will impact the transportation industry and associated industries. Uber drivers earning side incomes and truck drivers earning wages will most likely be affected. The potential impact on the livelihood of truck drivers will be severe when self-driving trucks hit the roads.
4. Customer service – Customer service roles are starting to be replaced as customer service technology improves with natural language recognition and conversational capacity. However, it may be difficult to replace jobs that have high human touch or interaction like nursing, caring for the aged, and coaching.
5. Finance – Robo-advisors like those from Wealthfront and Betterment are starting to step in and replace traditional human advisors. Wealthfront claimed that they are the only “robo-advisor” pioneer that is still totally human-free. It’s only a matter of time until artificial intelligence finds its way into other industries like legal and accounting.
PwC carried out a research study that drilled down sector-by-sector (automotive, financial services, retail and consumer, technology, communications and entertainment, manufacturing, energy, transport and logistics) and product-by-product impacts. Use their analysis to understand the potential impact of technology on your industry.
There’s also a great tool by PwC that gives you the job automation potential based on various country, industry sector and wave. The three waves cover the periods early-2020s, late-2020s and mid-2030s.
You may be working in a manufacturing plant that produces cars. If you know that cars will most likely not be produced in five years’ time or that the demand for locally manufactured or assembled cars will decrease over time, then it’s time to think about changing to another industry sooner rather than later.
Do a Google Search to identify which industries that are most likely die out. Type in “dying industries” [Your Location] and “growth industries” [Your Location]. Be creative in your search terms to give you wider search results.
Do a Google Trend search for your particular industry by specifying your search location. Search under “Past 5 years.” The trend line will give you some insights as to the popularity of that Google search term over a period of time. More searches mean more interest and demand.
These Internet search tools are free to use. Conduct your own due diligence as if your life depends on it. Your due diligence may highlight red flags for you. The search results will give you the required information to make your next career move.
If you find yourself working in a declining industry or feel that your role or job function is replaceable within that industry, then you can take proactive steps now and start preparing for a change to a different, less vulnerable industry or job.
Local councils are a great source of information.
Visit your local council where you live and work. Ask them about their projected population growth numbers and infrastructure spending. Identify any planned or approved developments. Identify key industries and main employer groups.
If you live or work in a city or in an area that is totally reliant on one single industry like mining or manufacturing, then any economic downturn will most likely affect the local economy. This will ultimately impact your job security. It will also impact your ability to continue earning your income into the foreseeable future.
Know the impacts on your occupation or vocation
“Seven in ten workers are in jobs where there is greater uncertainty about the future, but we can do a great deal to help people prepare for the future.” (Pearson, 2017)
Advances in artificial intelligence and machine learning will transform modern living. Artificial intelligence is the science of simulating intelligent behaviour in computers, enabling the latter to exhibit human-like behavioural traits such as knowledge, reasoning, common sense, learning, and decision-making.
Researchers from Oxford and Yale Universities predict that artificial intelligence will outperform humans in many activities in the next ten years such as in translating languages (by 2024), writing high-school essays (by 2026), driving a truck (by 2027), working in retail (by 2031), writing a bestselling book (by 2049), and working as a surgeon (by 2053).
To determine whether your occupation will likely be replaced by artificial intelligence, click here or here. Do note that these results must be contextualised to your own country and local conditions. But it a good indicator of what’s to come.
Do a Google Trend search for your occupation or vocation by specifying the location you are in. Select “Past 5 years” for better trend analysis. The search results will give you a good understand of what’s ahead for you.
Once you know the most likely occupations that will experience increased demand in the future, you should be aligning yourself with those occupations or professions as best as you can as your long-term strategy. Unfortunately, this may be impossible for many people.
Know the impacts on your skills
McKinsey analysed the detailed work activities of more than 800 occupations to assess the percentage of time spent on activities with the technical potential for automation.
Many types of activities within various industries have the technical potential of being automated. That potential varies significantly across activities. Identify what work activities you are mainly doing now. Then map it to the relevant industry to gauge the potential for automation.
If there’s a high likelihood, you should be planning your next career move now.
You may also want to determine which of the following seven job clusters you fall into in order to know how portable your skills are across different jobs within the same cluster. The good news is that our skills are more portable than we realise.
1. The Carers cluster has a strong future prospect. It comprises of jobs that seek to improve the mental, physical health, or well-being of others.
a. Occupations within this job cluster include GPs, social workers, childcare workers, fitness instructors, surgeons, counsellors and beauty therapists.
b. Industries closely linked with this job cluster include health care and social assistance.
2. The Technologists cluster has a strong future prospect. It comprises of jobs that require skilled understanding and manipulation of digital technologies.
a. Occupations within this job cluster include programmers, software engineers, database administrators, web designers and ICT business analysts.
b. Industries closely linked with this job cluster include computer system design, information media and telecommunication services.
3. The Informers cluster has a strong future prospect. It comprises of jobs that involve professionals providing information, education or business services.
a. Occupations within this job cluster include primary and secondary school teachers, economists, intelligence officers, accountants, policy analysts, solicitors, organisational psychologists, museum curators, and HR advisers.
b. Industries closely linked with this job cluster include professional, scientific and technical services, and education and training.
4. The Designers cluster has a moderate future prospect. It comprises of jobs that involve deploying skills and knowledge of science, mathematics, and design to construct or engineer products or buildings.
a. Occupations within this job cluster include architects, electrical engineers, clothing patternmakers, food technologists, building inspectors, product testers, industrial engineers, geologists, and draftspersons.
b. Industries closely linked with this job cluster include architectural, engineering, and technical services.
5. The Generators cluster has a moderate future prospect. It comprises of jobs that require a high level of interpersonal interaction in retail, sales, hospitality, and entertainment.
a. Occupations within this job cluster include sales representatives, retail supervisors, cafe managers, hotel managers, bank managers, entertainers, interpreters, and airline ground crew.
b. Industries closely linked with this job cluster include tourism, retail, and wholesale trade, accommodation and food services, and arts and creation services.
6. The Artisans cluster has a weak future prospect. It comprises of jobs that require skill in manual tasks related to construction, production, maintenance or technical customer service.
a. Occupations within this job cluster include machinery operators, landscape gardeners, electricians, crop and livestock farm workers, plumbers, and carpenters.
b. Industries closely linked with this job cluster include construction, agriculture, mining, manufacturing, utilities and logistics.
7. The Coordinators cluster has a weak future prospect. It comprises of jobs that involve repetitive administrative and behind-the-scenes process or service tasks.
8. Occupations within this job cluster include bookkeepers, printers, fast food cooks, bus drivers, furniture removalists, law clerks, receptionists, and car park attendants.
b. Industries closely linked with this job cluster include administrative, services, and logistics.
These job clusters can give you a good basis for deciding your next career move. While they may be generic, it can provide valuable insights into future-proofing your job.