Recently, I participated in an unsettling Twitter chat, focused on career planning.
Usually that’s not a controversial topic, but this particular discussion disturbed many participants. Why? Because we projected the number of jobs a typical Millennial will accumulate over the span of a career in our so-called “New Economy.”
Do The Math
Consider these estimates from reputable sources:
• By 2020, 40-50% of all income-producing work will be performed by short-term contractors, freelance workers and “SuperTemps”
• The length of a career already averages 48 years — by 2020 it will be 50+ years
• Today, the average time-in-service for a Millennial at any company is 2.6 years
Admittedly, I am not really good at math. But this data is pretty conclusive…
At 2.6 years per job, over 50+ years in the workforce, plus several temp assignments and contracts means that Gen Y can expect to hold 20-25 jobs over the course of a career.
Here’s the problem… or, rather, several problems:
No One Told Gen Y
Those statistics genuinely scared #InternPro participants — most of whom are Millennials. No one had done the math. Plus, between parents, educators and old-school career experts, there seems to be a halo effect surrounding an old paradigm: lifetime employment. Many Millennials seem to believe that once they graduate and get that first job, their job search is effectively over. They are unprepared for the fact that it’s really just the beginning of a continuous process.
Traditional Higher Education Hasn’t Noticed
Many higher education stalwarts — not exactly known for quickly adapting to changing economies and markets — still feature old-school theory taught by tenured professors who’ve never held a position outside academia. Instead of teaching the skills that will be in demand in the “Freelance Economy,” we’re still shoving 1970’s courses and curriculum down the throats of unsuspecting students. Higher education must change fundamentally. To remain relevant, academics must start emphasizing transferable, marketable career skills.
We Aren’t Entrepreneurial Enough
Successful SuperTemps, solopreneurs and freelancers rely on one skill above all else: entrepreneurism. Why? Because, going forward, our livelihood depends on our ability to sell our skills, our value proposition and our niche — continuously.
In fact, with the average duration of a job search at about 40 weeks, there will almost never be a time when we’re not selling… us.
Old School Recruiters Haven’t Adapted
It doesn’t help that recruiters still haven’t caught-on. Old-school recruiters, unwilling to accept new workforce trends, discount job seekers whose resumes show they move every two to three years. They still consider this “job-hopping” — and many will not interview candidates with this tendency. They are labeled “disloyal” and a “long-term risk”.
Here’s the reality: between economic conditions, Gen Y’s penchant for moving on when they become restless or feel undervalued, and the inevitable entrepreneurial spirit that is becoming pervasive among job seekers, recruiters who stick to this now antiquated “rule” will lose out on high-quality talent. In the meantime, their competitors will thrive.
Fasten Your Career Path Seatbelts
Without a doubt, our new economy is already here. Members of Gen Y who cling to old standards — through fear and/or influence by parents, higher education and recruiters — will clearly continue to struggle. They will continue to do as trained — and will continue looking for jobs that no longer exist.
However, young professionals who recognize the new workplace for what it is, and learn the career skills required to win…
• Strategic planning
• Goal setting
• Sales and digital marketing
• Effective follow-up
• Customer service
• Integrity-based self-promotion
…will not only embrace the new economy, they will surround themselves with success.
What’s your reaction to the “average” career path of the future? How would you suggest that Millennials prepare to manage their careers more successfully? Share your thoughts in the comments area.
(Editor’s Note: This post has been adapted from YouTern, with permission.)
Image Credit: Stock.xchng