How the New Economy has Changed the Job MarketSep 28th, 2011 | By Editor | Category: Employment News
Everyone knows that the economy has flatlined most of the job market. However, very few people have actually considered how the economy has changed the face of the job market forever. If the economy were to magically do a 180 by tomorrow, the job market would still remain in the shambles that it is in. That’s because the downturned economy has forced many industries to adapt and restructure they way they do business – many running the same type of operations on less.
And in business, the more you can do on less is a very good thing.
For those seeking employment, that doesn’t meant that all hope is lost or that they will never again find a career that pays above the poverty line. It simply means that they have to be more proactive and innovative when it comes to obtaining a job.
The basic degree will no longer get you a job. In fact, even advanced degrees offer no guarantees. Employers no longer need or want those with basic or general training. Why? Outsourcing. Someone with basic IT skills may be able to keep a company’s site up and running, but the company can hire someone over seas for a fraction of the cost. Medical coding specialists, freelance writers, and other computer based professions are in the same boat. And they won’t be coming back.
So how do you combat the rising levels of automated and overseas resources taking over once available jobs? You evolve.
Harvard’s mantra for every student is that “it is easier to create a job, than to find one.” If you have been working in medical billing and coding for years only to find yourself out of a job now because your position has been outsourced, don’t bumble around looking for anything to simply pay the bills. Take your skills and be innovative. Start your own medical and coding business, hire overseas freelancers yourself, and specialize your service to better serve small clinics or larger VA medical facilities. Your specialization will keep you afloat and employed.
If starting your own business doesn’t seem like a responsibility you want to take on, then be ready to be aggressive. The employers market isn’t likely to change, and even if the economy improves, you can guarantee that employers will still remain highly selective – because they can be. Being employed isn’t a right, it’s a privilege – and this is the mentality that most employers keep.
To gain a position in a company, you need to prove that you are willing to go the extra mile for the company and that you actually have something to offer. Not only do you have specialized skills, but you are also highly innovative and can provide something that an automated or overseas resource can not. And you should never be afraid to let employers know this, in a highly tactful way of course.
The job market will never again be easy. In addition to the reduced positions available because of collapsed industries, more jobs have been lost, and will continue to be lost, to automation and outsourcing. The lazy days of getting a degree, getting a job, and holding out until employment are over. Not only do you need specialization, but you need just as much creativity as the entrepreneurs themselves to simply to get a job. So are you ready for this brave new world?
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