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What to Do When Your Career Disappears?

  • 29th Jun'21

Is it possible for your job to disappear? Well, according to an Oxford Economics study, automation might threaten tens of millions of employment over the next decade. If you believe your livelihood is in jeopardy, you may be more concerned about what to do next.

 

How to Plan for a New Career

Here's how to make a strategy to help you stay afloat as you switch careers:

 

  • Assess the situation

Assess your position if you don't have enough cash in the bank to cover a few months of costs. Determine whether you are eligible for unemployment benefits and whether your previous company will give severance money. Create a simple budget by totaling your income and spending and finding any deficits.

 

  • Quickly Earn Money

When you're unemployed, it's a wise decision to look for methods to generate money in the near term rather than waiting for another full-time employee. This is especially critical if you're unsure about the future of your profession as a whole.

Look into all of your alternatives, including temporary jobs, gig work, and job opportunities that need transferable skills, to generate money quickly while you figure out your long-term objectives.

 

  • Find a Temporary Fix

When transferrable skills and professional experience aren't enough to narrow the gap, certification may be the best option. A certificate program can help you get into a variety of high-paying careers. These programs usually last a few months and are less expensive than an associate's or bachelor's degree.

 

  • Create a Long-term Strategy

In the long run, returning to school to get further degrees or certificates may make sense, or you may be able to learn new skills on the job. Whatever path you choose, it is worthwhile to devote time to developing a career strategy.

The career-planning process includes Self-assessment, Research, and Exploration.

 

  • Prepare to Grow

The skills you need to execute your work now may be obsolete tomorrow. It's essential to continue acquiring new skills and plan for a lifetime of learning and growing.

Every career will change at some point, even if it does not happen suddenly, so be prepared to adapt to it.

 

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