At my work as an Executive Search consultant, I am daily approached by an increasing number of Executives around the world representing different businesses and functions looking for new career opportunities. This increase seems to be due to rapid changes in the global labor market.
Several factors are driving the change.
Geopolitics and politic have made millions of people - many of them experienced international executives and top technical talents - look for new career opportunities and a better life abroad.
Geopolitics has influenced the balance of the world economy. General uncertainty and high inflation and interest rates have pushed many businesses into trouble and at the same time, some businesses and markets are booming. For instance, the Deference industry and industries serving it like digital and electronics are flourishing. Many markets are gaining from the brain drain of countries in crisis. The Middle East has gained investments and talent. For instance, Saudi Arabia is actively attracting global talent in many areas including green technology.
We have already for some time experienced Great Resignation, Quiet Quitting initiated by the global pandemic. People had distance from their work routines and started evaluating their lives and values. Younger generations are questioning the values of older generations.
Remote work is not new. IT companies have managed successfully remote teams distributed across the globe already for years. International companies have used teleconferencing for a long time. It was the pandemic that made remote work acceptable. The physical location today will be less and less important.
Corporate values and culture are important success factors for every company. How to instill and nourish them without face-to-face contact is a challenge. Many companies have today allowed a hybrid model where remote work is allowed but a certain extent of physical presence will be required. Remote working is to stay, and companies will have to adapt to that. Brick-and-mortar offices will be less and less needed.
At my work I have interviewed people who have during the pandemic moved from the city or abroad and now refuse to return to office work. Many of the people looking for a career change who approached me have told me that one of the reasons they are looking for a new opportunity is that their employer does not allow remote work at least not to the extent they would like.
Short-term employment and project work have become popular. Younger people do not what to commit in the long term. For many of them, values like freedom, independence, and the ability to determine when and where you work are important. Entrepreneurship has become popular. You can be your boss and decide where and when to work.
Digitalization has influenced the labor market and jobs for already a long time, and this will continue. Now many are panicking about the rise of Artificial Intelligence. Artificial Intelligence should be seen as a friend. Like when digitalization started a few decades ago people were panicking about losing their jobs but in fact, digitalization helped people in their jobs and made the work more productive and meaningful. The same will happen with Artificial Intelligence.
Artificial Intelligence will influence directly at least 70% of all jobs and it will help all of us in our everyday life. Some jobs where Artificial Intelligence will bring the most add value will be changing. They may be for instance in SW coding, financial services, legal jobs, HR and recruitment, and some office jobs will undergo major changes. Artificial Intelligence will allow people to focus on their core know-how, increase productivity, and make the work more meaningful.
Global warming and climate change are creating new industries and businesses opening millions of new positions. Businesses in replacing fossil fuels, renewable energy sectors like for instance solar and wind, pollution prevention, green building, etc. are booming creating new opportunities Sustainability management, and ESG has become a must for every company creating at the same time new functions and jobs.
Business today is faster than ever, and companies must react to changes quickly. When planning your career, it is now more important than ever to follow global trends and market-driving forces. Reacting to these on time will give you an advantage in your future career.
When someone looking for new career opportunities approaches me, I will naturally do my best to help. If there is an ongoing assignment matching the experience and objectives of the person who approached I will include him/her in the search. If someone from my contact network is looking for this kind of experience, I will do my best to help. An Executive Search process normally takes 2-3 months and there is a chance in the end not to be selected. If the data is stored in our database (with consent and following relevant laws) we will return later once there is a matching proposal. However, this may take time.
For many, the need for help in their career is immediate. To find help quickly, have a look at my online programs for updating your executive career.
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