How will the pandemic affect your future career decisions?

By | August 10, 2020

The health crisis impacted not only on the health sector of the nations, but has also had strong economic repercussions, both at the micro and macro levels. It is possible to notice how this situation forced populations to change habits and activities such as academic, work and even entertainment. Educational institutions turned to completely virtual classes. Shopping centers, cinemas, gyms, restaurants, were required to close their establishments temporarily.

Companies and businesses had to accelerate the process of incorporating technology such as remote work, artificial intelligence and automation, which, although practiced previously, not to the extent required by current circumstances. The above examples are just a few of the many repercussions that the pandemic generates and will generate. Of these, one of the most pressing is the transformation of the labor market. That is why you are probably wondering during these uncertain times, what should I take into account so that my professional career is not affected?

How will the pandemic affect your future career decisions

The International Labor Organization (ILO) has estimated a considerable increase in world unemployment figures compared to 2019. In the most favorable scenario, these numbers would amount to 5.3 million people and, in the completely opposite case, that is, the more pessimistic of 24.7 million. The above information seems daunting, but don’t be discouraged! As we expressed in our article “Volunteering during the pandemic: Ideas that make your profile more competitive”, this Great Confinement may also represent an opportunity. Take a moment to analyze and reflect on the specific actions to take, so that your professional career is not affected or stagnant while we go through this health and economic crisis. In this article we provide you with useful information for these important decisions and, in some cases, even determining ones.

Transversal skills

You should start by assimilating and accepting the fact that things will not return to the normality that we were used to. The way of working is one of the activities that is undergoing highly notorious changes, and this revolution is intended to mark a new model accepted by companies. With this, the skills required to confer a position in a post-COVID world will also evolve. Hence, adaptability and flexibility to changes are essential: companies require collaborators with constant updating of knowledge and skills.

The leadership also adds to these skills, as companies look for professionals capable of forming competent teams and inspired collaboration easy to get the best results that improve the competitiveness of organizations. Even though emotional intelligence must be an implicit quality of a leader, it goes without saying that this will also be highly demanded in a post-COVID world. Demand growth of 26% in the US and 22% in Europe is projected for these emotional and social skills.

Along with these skills, critical thinking, innovation and creativity will see a 19% increase in demand from employers in the US and a 14% increase in Europe. Professionals are needed capable of objectively discerning and evaluating information from apparently reliable sources, in order to generate and propose solutions to unexpected problems and, as we live now, unprecedented.

It is undeniable that technology is increasingly the right hand in our tasks. Provides the ease of working remotely and easily, assuming you master the use of this technology. A decade ago, knowing how to use Office parcels was an important differentiator. However, this is no longer the case. It is estimated that by 2030 it will increase by 50% in the US, and in Europe by 41%, the time of use of corresponding advanced skills in information technologies as well as programming. Therefore, one option that you should consider is taking courses that certify you in these skills such as systems analysis and programming, management information systems, digital marketing, among many others through programs such as Python, SAP, RD, etc.

These same technologies now allow us to collect and consolidate data more expeditiously. However, data interpretation and analysis skills are needed to make decisions. You must be clear that information is power. This will help you define the correct directions that a company should take in different situations, whether planned or not.

While it is true that more and more comprehensive professionals are required, that is, with transversal knowledge and skills in all industries, it is important that you identify yours. Not all sectors behave in the same way, and the specific skills required for each can vary.For example, a study by McKinsey focused on 5 sectors: banking and insurance, energy and mining, healthcare, manufacturing and retail, revealed that emotional and social skills will present an increase in demand within all these sectors. However, it will not happen in the same way in the case of basic knowledge, data manipulation and automation, to mention a few skills that have different value and weight in each type of industry.

Postgraduate studies as an option to acquire transversal skills and make your profile more competitive

According to the World Economic Forum, 35% of the skills considered essential for a job will have changed within 5 years. At this point you may have realized that the post-COVID world of work will demand more competitive professionals with specific and invaluable differentiators. While it is true that we have no control over what may happen – especially in these uncertain times – it is taken for granted that job profiles tend to become more competitive as we face change. Even without knowing for sure what these changes are,Doing a postgraduate degree offered by a prestigious and internationally recognized University will allow you not only to have a largely resilient and competitive profile with more specialized knowledge, but it will also open a greater number of doors in the labor market, even abroad.

Did you plan to apply for an MBA, but in this situation, you are no longer sure that it will continue to be a good option to strengthen your career path and achieve your professional fulfillment? It is precisely in this type of program where you will learn to identify key risks, quantify the impact as well as develop mitigation strategies for situations that put business models at risk and, furthermore, need flexibility and adaptation to survive.

As we are already living it, companies had to resort to remote work, what about those collaborators who were not familiar with the technologies that make this possible? Most likely they decreased their level of productivity, and this is another advantage that studying an MBA has left in their students: the incorporation of this technology is part of their day to day, so they had no major problem when migrating to this new working mode. On the other hand, belonging to an MBA registration will allow you to build a network of contacts outside your common circle.This aspect may seem somewhat superficial to you; However, after this crisis, business supply chains will be rethought and rebuilt. This with the main objective of diversifying customers and suppliers, thus avoiding depending on a single or very small number of agents who, if they go through difficult times, compromise the activities of the companies.

In conclusion, we are going through times of uncertainty in various aspects. However, it is essential to inform yourself and prepare for the new challenges of the post-COVID world. Companies will resurface from economic havoc, keeping in mind this experience and the lessons it left behind. New business models will be created, supply chains will be rethought, new skills will be sought in employees, resilient and efficient businesses, just to mention a few situations of a new era that we are about to live. Therefore, the need to be prepared for future similar situations, which will test your resistance in difficult times is imminent. So now you know which route to take after this Great Confinement: preparing to build an increasingly competitive profile.