brand logo

Job cuts are inevitable, are you willing to adapt?

10 May 2020

A recent headline on BBC read: “Four out of five people’s jobs hit by pandemic.” Globally, a number of public companies with thousands of employees have already declared bankruptcy or are in the process of doing so. In Sri Lanka, a number of large private and public companies have announced pay cuts and layoffs, the most affected being the travel and hospitality sector. While some businesses in all sectors will recover in the long run, the short to medium term is bleak and mass re-employment is highly unlikely.   A hard pill to swallow The reality of this situation is that most people will not be able to make a living in their current sector and/or job role. People need to start looking at alternate jobs in the same sector or moving into completely new domains which have vacancies. Change is not easy, especially for those who have been in their respective industries or roles for over 10-plus years. With age, the ability to learn new skills also becomes a challenge. There is a saying: “You can’t teach an old dog new tricks.” This is actually backed by research and studies which prove the science behind the difficulties in learning as we age. It may be the ability to filter and eliminate old information — rather than take in the new stuff — that makes it harder to learn as we age. Scientists report: “‘When you are young, your brain is able to strengthen certain connections and weaken certain connections to make new memories,” said Joe Z. Tsien, a neuroscientist at the Medical College of Georgia. It’s that critical weakening that appears hampered in the older brain, according to a study in the journal Scientific Reports. Neurons in young people’s brains are able to “talk” to one another a fraction of a second longer and make stronger bonds with each other, optimising learning and memory (source: Business Insider). Nevertheless, with looming job losses on the horizon, it is imperative to start looking at fresh alternatives before the hammer comes down.   Every dark cloud has a silver lining The pandemic has decimated the tourism, travel, and hospitality sector and at the same time created a boom in a number of sectors like healthcare, e-commerce, and enterprise collaboration software. We can broadly categorise all businesses as follows:
  1.   The Winners: Sectors affected positively by the pandemic
  2.   The Losers: Sectors affected negatively by the pandemic
  3.   The Inbetweeners: Sectors that could go either way depending on how they adjust and respond
The opportunities for new employment clearly lie in the first segment — The Winners. To take a few examples, there is a boom in the following industries: e-commerce marketplaces, pharmaceuticals, logistics/delivery, enterprise collaboration software, entertainment streaming, and gaming.   A guide to navigating the job space If you are at risk of suffering from a massive pay cut or lay off, it is high time to start looking for alternatives now. While this is not a definitive guide to a guaranteed job, this is a proven framework to increase your chances of getting re-employed or self-employed with a decent income.  
  1.   Look for opportunities
The key thing to keep in mind here is that you are not necessarily looking for a job. You are looking for a source of income which you can obtain with minimal re-skilling/upskilling requirements. Start with the local job sites like topjobs.lk or XpressJobs, and work your way up to the global job boards. Considering the restrictions on travel and migration, filter international jobs by remote working options. Especially focus on freelancing opportunities with significant pay i.e. $ 20/hour or more. Some recommended sites to find these would be Fiverr.com, Freelancer.com, Peopleperhour.com, and Upwork.com. Shortlist these opportunities with a simple link list. Here’s some criteria for shortlisting:
  1. a) Relevance to existing skills and experience
  2. b) Potential income meets your minimal needs
  3. c) Ease of learning the new skills required for the job
 
  1. Identify required skills
Once you shortlist potential jobs, create a short list of the new skills required. There are two easy ways of going about this:
  1. a) Job vacancy posts will have sections clearly defining the skills and proficiency of certain tools required for the job
  2. b) Look for people who are already doing similar jobs and read their online profiles to understand their skills and experience
 
  1. Upskill with e-learning
With a basic computer and internet connection, you can learn these skills through a number of free and paid e-learning services. Focus on high-demand skills you can obtain within two to three months. Here are a list of e-learning services offering free and paid courses for virtually any skill:  
  •   Online Courses – Learn Anything, On Your Schedule | Udemy – www.udemy.com
  •   Online Courses | Harvard University – online-learning.harvard.edu
  •   edX – www.edx.org
  •   Coursera | Build Skills with Online Courses from Top Institutions – www.coursera.org
  •   Alison | Free Online Courses and Online Learning – alison.com
  •   Khan Academy | Free Online Courses, Lessons, and Practice – www.khanacademy.org
  •   Learn to Code – for Free | Codecademy – www.codecademy.com
  •   Learn the Latest Tech Skills; Advance Your Career | Udacity – www.udacity.com
  •   Lynda.com – www.lynda.com
 
  1. Build your personal brand
Think just sending a poorly structured CV document will land you a great job? Think again. Employers nowadays look for a lot more than pure experience and skills when selecting top candidates for jobs. People with professional social presence stand out from the crowd. You can improve your chances of landing the job ten-fold simply by creating a small personal brand by following these easy steps:  
  1. a) Create a LinkedIn profile – if you already have one, then spend a few hours and follow the built-in profile completion wizard to update your information. While it’s not recommended to lie about skills, especially if you’re claiming to speak five languages or swim, you can be creative in presenting your existing skills and experience
  2. b) Expand your network – getting a job can sometimes literally be about who you know. If your current circle of friends and associates aren’t any help, then it’s time to expand your network. Join shared interest groups, webinars, causes, and any other networking opportunities that can help you build your connections in the professional world.
  3. c) Share your hopes, dreams, ideas, and opinions – like Newton’s law of universal gravitation, which says the gravitational force increases with the mass of an object, so does the gravity of your personal brand. The more original-quality content you share with your network, the more people follow you and consider you a thought leader in your respective industry. This is a proven dynamic in personal social branding.
Start with opinion pieces, as it’s hard to go wrong here. This is about sharing your personal view on a trending topic and requires minimal research and fact checking. However, it is a good practice to ground your opinion in facts so as not to come off as overopinionated. Next, you can move on to doing some research on trending dilemmas and socioeconomic issues. The key is to follow well-established, credible sources and get the facts right. Also, beware of flogging dead horses and avoid talking about old news. Break new ground and bring new perspectives to the table, even if it’s the same old problem. The above steps are just the start of your personal branding journey. You can expand on this with more ideas and tips online. Just Google personal professional branding and you will find everything you need.  
  1. Start applying, NOW
With layoffs on the horizon, you have absolutely no time to waste. Once you have a basic LinkedIn profile, updated CV, and minimum skills from online courses, start applying for jobs and part-time gigs immediately. The key here is to play the numbers game. Statistically, if your chances of getting a particular opportunity is 1/100, the best way to pull the odds in your favour is to apply for as many as possible. Prepare well in advance for that golden opportunity also known as a face-to-face interview. Research about the employer and the job role. Let them know you mean business. Even if it’s over a video call, dress professionally and do not turn up in your pyjamas. Nothing beats a good first impression. A common question asked at interviews nowadays is: “Why do you think you are the best candidate for this job?” Be ready for this one, be bold and respond with your own question: “Tell me your company’s top challenges and I will explain how I intend to use my skills to help overcome them.” Stay calm and understand the challenges laid out to you. All you need to do now is explain briefly the relevance of your skills with a mild dose of enthusiasm. In the eyes of potential new employers, you can be just another brick in the wall like Pink Floyd warned us about, or shine bright like a diamond like Rihanna told us to. The choice is yours. Tharaka De Alwis is the Chief Information Officer of Global Rubber Industries Ltd. Before that, he was an Asst. VP at Nations Trust Bank PLC, heading the technology division of its flagship FinTech brand FriMi.


More News..