We discuss two major shifts that are happening in the world of business and people, which would have a huge impact on careers.
The biggest shift in the context of careers is that we are moving away from what has traditionally been the ‘job economy’, where people thought of their careers as a lifelong contract, towards what is called the ‘GIG economy, a fancy name for a higher level of freelancing.
From trying to find that first “dream” job, we have to be prepared to look for a gig or a job every other day. Instead of depending on our employers for our career progress, we are now on our own.
The shift to Gig Economy is not just for those who are quitting their jobs; even within corporates, the nature of roles is changing, with the emergence of networked structures: small clusters or closely-knit teams that form naturally, around solving problems.
The second significant impact on people and careers is due to changes in business models.
Traditionally, value creation in a business was a function of the quantum of input resources: capital and talent. Today, that’s not the case. A small team of people with very limited resources are able to disrupt industries. The driver of value creation in business is shifting towards innovation and creation of intellectual property.
We better get prepared.
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