As Gen Y graduates have come to realize, the cliche of “go to school and get a good job” just is not as simple as phrased and sometimes unrealistic even . I have seen many of my old college friends take on majors in hopes that it will get them a great job upon graduation. What I see now is many of those same people working in jobs that do not even utilize their degrees. Some have even gone into entry-level jobs where the minimum degree required is a high school diploma. Some even had to go back to school to get an associates degree at a technical college just to get a job and many times it’s a total different field. Its unfortunate, but true. Millions of post-graduates feel like they wasted their time. If you are one who feels that college was a waste of time, I want to encourage you to have a change of heart.
College has prepared you in many ways! You were forced to learn as much of the course work as quickly as possible, you were required to make a contribution as part of a team utilizing higher level analysis, you had to take required courses in your core curriculum that perhaps you detested. Perhaps, you even had a part time job and did internships, and participated in extra curricular activities. This was a period of personal development as much as academic learning. You have improved your ability to learn new material quickly, present that material, build systems to get work done, and figure out how to participate in other areas of life. You’ve learned that sacrifice is important, yet most all you have learn adaptability, and this is vital component of career risk management.
Many college graduates who have recently graduated, and even folks who have been in the work force a bit longer can tell you that is the most important characteristic of the college graduates who find success in seeking alternative careers paths. We are even starting to see doctors and lawyers who studied on average 8- 15 years in their respective professions dropping out of the field and pursue other endeavors. Some people do not find their careers as interesting as they once hoped. So people are beginning to look for alternative ways to make a living. I have studied many successful people and I have found that for most people who make it to the top there are three trends that give people and edge in their professional lives.
Horizontal Career Changes- Horizontal career changes over the course of one’s life is essential for those who want to fully understand business environments. CEO must have an understanding of Marketing, Human Resources, Finance and Accounting because the need to know how to sell their product or service, hire the best talent, and manage money. Having an understanding and first hand experience of various business functions will help you to lead a cohesive organization.
*I think this is important for any MBA, especially if you wants to truly be considered a “Master of Business Administration”. Unfortunately, most MBAs only want to work in finance. The purpose of pursing this degree is to add value, and narrow minded understanding of business function does not produce value….just my opinion.
Cross Industrial Career Changes– If you are dedicated to staying with in your field (i.e. HR) , you can try to learn as much as possible about other related industries. For example HR professional in a automobile dealership, could move into HR for automobile manufacturer.) Having an in depth knowledge of the industry and businesses within the supply chain will be an exceptional asset to the future leader . You will have a holistic business mindset and understand how one industry affects another industry. To be of true value, you will be able to bring your expertise to companies that could utilize more efficient and effective practice.
Entrepreneurship– There are several ways that the moguls we look up to have been able to “make their own way”. While this is not for everyone, it is attainable. There are three major ways that the aspiring mogul on the move can become an entrepreneur: starting a business from scratch, multi-level marketing, and franchising. Each of these methods has it pros and cons which I will describe in a later post, but it is something that you might want to consider when you are preparing for the possible future layoffs. Financial and economic freedom is what most people want from their career life. Entrepreneurship is the number one way to manage risks of pursuing a career. You can start small on the side and build up. Quite possibly you can quit your job.
If I can express any key point, you have to be adaptable. Mitigate the risks of making a living. Many of us will have short careers at the companies we work for. It is expected that Gen Y individuals will change jobs at least 5-10 times throughout their lifetime. So much for stability and staying in a profession for 20-50 years! If this will not work for you, then you might want to seek a entrepreneurship in your in career risk management portfolio. Taking advantage of these three trends will lead to success! Which one works for you?
