The pandemic has upturned businesses, lives, and even the outlook of our future. It has caused millions to lose their jobs, and for many young professionals to feel the bite of setback more clearly than ever before. Most households in India do not have the financial means today to survive a week without a job, and though today many of the part-time, service-based jobs have returned, those working in a career role are still without luck.
The future of the workplace has been permanently changed. Hiring holds have rocked the economy and have placed huge burdens on the younger generation, particularly those between the ages of 15 to 24, though professionals between 25 to 30 have also been hit hard.
Businesses simply are not seeing the revenue necessary to keep these young, untrained professionals on. Even those who have years of experience are seeing their positions made redundant. Everyone is struggling, but being a young skilled worker with too few years of experience and a massive amount of competition, it is the hardest.
How Coronavirus has Impacted the Job Sector
It is important to note that job insecurity is not solely due to the pandemic. Job growth rate has steadily been slowing in recent years, hitting an increasing number of young professionals.
In the initial aftermath of the lockdown 121 million were out of work. As time went on many of these did return, but not to positions in salaried environments. Around 19 million salaried jobs were cut, with 4 million under the age of 30 losing their jobs entirely.
Salaried Job Shrinkage
More worrying, is that as the economy opens up and jobs get added back as movement once again is encouraged, salaried jobs are expected to take even longer to bounce back. Even with hiring holds lifted, salaries are expected to be lower, with the opportunity for advancement put on hold for the next few years.
Future Outlook for the Job Market
As the global economy restarts and shuts down in waves of localized lockdowns, it is fair to assume that the job outlook for the next year or more (until an effective vaccination is finalized) is a rocky one at best. Working from home is certainly going to continue to be the new norm, or at least employees will have greater opportunities to work remotely than they had previously.
Working to build up your skillset so that you can provide either a high speciality or be a jack of all trades are both excellent strategies in the coming months, both to help you keep your job, and to secure new and better positions in the future.
Retraining for 20201 and Beyond
Retraining, or even furthering your training, is the best strategy for workers hoping to shed off their years of experience and to improve their skillset. This can be done online in many cases, allowing you to develop the knowledge and experience you need without risking the high rate of injection most universities and schools are currently seeing.
An online MBA, for example, is the perfect way for new managers to secure their position and to provide exemplary work that gets them noticed, especially during this trying time. Being able to work, learn, and then use your new skills at work will show your commitment and value.
Developing New Skills
New skills are key to keeping your job, or in standing out from the rest when it comes to job seeking. There are many digital tools that you may use, but do not have anything to prove your proficiency. This can really undermine your efforts to finding new work, or when it comes to proving your worth.
Complete Online Certifications
Online certifications are one of the best and easiest ways to prove what you know. They range from Google tools, all the way to specialist industry-specific tools. You can usually achieve such a certification directly from the publisher themselves. If you are already very proficient in how to use such tools, all you need is to pay the small fee or take an online test and pass.
If you want to learn about new software, then there are courses that take you through everything that you need to know and provide you with a certificate at the end of it as well, so you have choices when it comes to developing new skills.
Securing English-Language Positions
Another instance where taking a test to prove your proficiency in a skill will come in great use to you is with English. Knowing English, even with native proficiency, isn’t enough when job hunting unless you are from a predominately English-speaking country. By taking a language certification you can prove your proficiency beyond a doubt, and in turn be able to qualify for global positions, or even get accepted into a top university placement.
Pursuing Higher Education
If you are already highly qualified, and are currently experiencing difficulty in the workplace simply because firms have put a hiring hold across the board, now is the perfect time to pursue a degree that won’t just get you back into your old job, but into a managerial position. Safeguard your career in the future by shaking off the inexperience and walk back in with an accredited online MBA. You will have the passion, the skills, and the knowledge to secure a higher level position and protect yourself from future job losses by positioning yourself in a place of experience and importance.
The Importance of Online Education in 2020
Universities around the world are struggling to provide their students with the same level of experience and comfort. In the UK, students have been locked in their dorm rooms, and in many cases forced to eat catered meals that barely make a pass on the nutrition scale. Locked away, unable to go out even for their own groceries, and robbed of their university experience, many have faced severe mental health deterioration.
And yet, it is required. Universities and schools are among the largest hot spots for infection to date, and yet they have become prisons in their own way due to a severe lack of foresight from even established institutions.
For those looking to progress their skillset in 2020 and beyond, it is imperative to seek out a quality online education. This education must be more than copy-pasted into a digital environment. It must be designed for the online world. You wouldn’t want to receive an online MBA education that wasn’t designed as an online MBA, especially when there are so many quality options available to you.
Many quality universities provide a dedicated online MBA, because it simply makes sense in today’s world. Before the pandemic, the benefit of an online MBA was the ability to work full time and pursue your degree around your own schedule. Today that benefit still stands, but it also allows you to enjoy a top-notch education at a distance.
The Importance of Accreditation
In order to safeguard your position, or to alternatively stand far apart from your job seeking competition, you will want to choose online degrees or courses that provide internationally recognised accreditation.
Take an online MBA, for example. There are many out there, but how do you really measure the quality of one over the other? Moreover, how can your employer measure the quality of the education that you have received before you can demonstrate your skill?
Accreditation offers this assurance, particularly if it provides that accreditation on a global scale. The Association to Advance Collegiate Schools of Business (AACSB) works to elevate the standards of business schools above the rest. It ensures that all professors are professionally and academically qualified to teach, that significant resources for online (and offline) learning are established, and that every year the course is audited and improved for the next generation.
It is a very lofty accreditation to receive, and only 5% of schools around the world get to hold the title. Look for an online MBA that holds such an accreditation, and you will have an online MBA that lets you shine.
Choosing the Right Degree for Your Advancement
Finding a great university that has an exceptional department and great resources is the best place to start. Choosing the right specialization or degree within that university is another matter entirely. At this stage, unless you hope to work in education later on, it is best to choose the degrees designed by, and for, working professionals.
Pick the specialization that suits your goals and passions the most. There are so many different online MBA degrees out there that there is no excuse to not find and choose the best option for your current career trajectory. Online with the right education can you take your existing experience and push yourself to the next level.
Career Aid and Ongoing Support
The university and department you choose for your further education must also provide ongoing support. An online MBA program that does not help its graduates use what they have learned to secure executive-level positions is not worth your time or money. You need an online MBA that is committed to your professional success.
Seeking Employment on a Personal Basis
Seeking employment of your own, wherein you are your own boss and you work for yourself, must be seen as a supplementary option regardless of your personal situation. You could be working, and benefit from taking on a client or two. You could be laid off, and need to build up a robust client list that will help you throughout the pandemic. Working, studying, or unemployed – all situations would benefit from rounding out your income stream with freelance, consultant, or agency work.
As a freelancer, you provide a certain skill to your clients. There are many options to find this work, but generally, you should stay away from sites where bids are unbelievably low for the work. There are businesses and people out there who will pay you fairly, and the extra effort it takes to find and build this network is worthwhile.
Good places to start are specialist freelance sites, rather than the general ones like UpWork. Moving on, leverage your LinkedIn and other professional networks to get a feel for who needs work done by a specialist like you.
Consultants work by auditing a process or business, and creating a robust list of recommendations designed to improve the goal at hand. The best Business Consultants hold an online MBA, however, so this is a route better suited to high-level employees or those pursuing an online MBA and want to put their education to good use.
If you partner with an agency they will provide you work without the need to seek it out yourself. It’s ideal if client acquisition is what is holding you back from using your skills for your own gain. The only downside is that you cannot set your own prices, and will always be earning just a fraction of what the agency is charging.
Commitment to Improvement
With the upheaval of the traditional workspace it is imperative that everyone, even those who still hold their jobs, must work to improve their skillset. That dedication to your personal commitment, and the value you offer to your employer, is what will safeguard your position right up till the end. The pandemic is far from over. Countries around the world are seeing a dangerous, massive second spike, and localised lockdowns and border restrictions are common on every continent.
By committing to your improvement you can weather the storm, especially if you also work to build up a set of clients and supplementary work on your own. We cannot rely on a single stream of income at the moment and must diversify our work and our skills. Combine this approach with a dedication to your professional improvement, via online MBA or any other certification, and you have a solid strategy on your hands. Only then can you succeed and secure a top position in 2020 and beyond.