When I graduated a several years ago, there was no Facebook, Twitter just started, and the iPhone was yet to be released.  I pursued a career in marketing because I have always been interested in psychology and business. But now I feel that things are changing so rapidly that the traditional concepts that are taught in school have not been able to keep up with the times. In a way, it has created a level playing field. People who want to reinvent themselves are able to do so if they are willing to embrace the digital age and learn all the tools necessary to succeed. But it is also a bane for established professionals who suddenly find their traditional skills obsolete.

Top 3 Trends

Outsourcing

There is heightened competition not only from local job seekers but skilled individuals from all over the world. Any job that can be digitized can be outsourced. Jobs such as graphic design, web development, content writing, customer service are often outsourced to countries with lower wages. We also find that this tends to push wages down as many people bid for limited projects.

Business Process Outsourcing (BPO), as it is known in the business jargon, has boomed in countries like the Philippines and India pulling thousands out of poverty and into the middle class. These two countries dominate the sector due to low cost of labor and the availability of skilled, English-speaking workers. The Philippines boasts of 470,000 English proficient college graduates with a proficiency rate of 92.5 percent.

As more and more developing countries realize the growth potential of this industry, their local governments have started to set up training centers that not only teach English but also technical skills such as coding or accounting.

A borderless digital world made possible by the internet has presented many opportunities to make money but it also deemed many jobs precarious. It is not farfetched that a college freshman today may find that at the end of four years, his course has become less in demand in his country.

According to HowStuffWorks, the following jobs are at most risk of being outsourced:

1. Writers

2. Personal Assistants

3. Tax Preparers

4. Web Programmers / Designers / IT Professionals

5. Drafters

6. Human Resources

7. Call Centers

8. Medical Professionals

HR and Technology

Let’s face it, people are hard to manage. They can be unpredictable. They can go on strike if they feel that they are not paid fairly. They can also make mistakes that can cost companies millions of dollars. Despite the big capital outlay, companies are now taking advantage to new technologies to ease out human labor. It costs them less in the long run and they have better control over production. As a result, most jobs are lost to machines or software.

Consider Uber and Google' recently launched driverless cars. Think about how may jobs will be lost once this becomes the norm. Studies have shown that most road accidents are caused by human error, so with new software and algorithms, accidents can be avoided if not altogether eliminated. Imagine the increase in productivity if everyone will simply be a passenger working while in traffic instead of navigating the roads as a driver. Indeed, the benefits seem to outweigh the disadvantages but if we talk about the people whose livelihood is at stake, it will be a very difficult transition for many families.

Another industry that depends much on human labor is the restaurant business. Business Insider recently featured several high tech companies that are looking to disrupt the food and beverage sector. Momentum Machines has developed a device that is like a printing press for hamburgers. The robot made beef patties, chopped toppings, and assembled them into a delicious sandwich.

Or consider this a Japanese theme park hotel that opened in July 2015 that is almost staffed by an entire team of robots. The Henn-na Hotel is a 72-foom hotel in the Nagasaki Prefecture. Apart from the sizeable initial investment which it can recoup soon enough, the company saves by taking  humans out of the equation. They don't need to pay salaries, bonuses or medical benefits. Plus guests won't have to agonize  about how much to tip and risk looking like a cheapskate.

(Photo credit: Telegraph UK)

The Freelance Economy

No longer are companies willing to hire full-time and pay full benefits if they can get freelancers who are willing to work on a project basis. This is especially beneficial for seasonal products. It allows them the flexibility of hiring more people during peak seasons and less when there is weak demand. This has given rise to services such as Fiverr and Elance to match companies and freelancers. This results in underemployment and no benefits for workers.

Nevertheless, there are freelancers who have taken advantage of the gig economy and are raking in as much as US$40,00 a month. Forbes recently featured a number of them in an interesting article. One career consultant started helping with resumes for US$5.00 a piece. She was soon promoted to Level 2 Status that allowed her to attract higher paying clients. She later on expanded her services to career counseling, training for interviews and writing cover letters and LinkedIn profiles that further increased her earnings. 

No doubt, it has proven to be a boon for exceptional individuals who can deliver high quality projects and services.There is little room for mediocrity and the competition will inevitably weed out slackers and posers.

Keys to Success

Adaptability

Develop the ability to learn and re-learn new tools in your industry. It is dubbed that coding is the new literacy. Most transactions now occur online and businesses need to be where their customers are.

It is also easier than ever to learn from digital sources called Massive Open Online Courses (MOOCs). My favorite is Coursera due to the quality of professors and the pace of the courses. So far I have taken digital marketing and accounting courses. 

I must warn you though that compared to a classroom type of learning, it take an incredible amount of discipline and perseverance to complete the courses. This is because there is nobody but yourself who can motivate and push you to persevere.

There used to be a time when online courses are not seen as credible. But times have changed and many companies have recognized that real skills can be had from these platforms. Just be careful not to mislead employers if you decide to add them to your resume. Make sure that you have mastered a specific skill and can deliver should the job call for it.

Global Awareness

We live in an interconnected world now and most companies have businesses across borders. Economies more than ever are tied to each other. Political turmoil in one region can have a huge impact in other parts of the business. As a citizen of this digital landscape, it is no longer possible to happily live in a bubble. One must be able to foresee trends, predict future outcomes and prepare accordingly.

Instead of spending too much time following celebrities on social media, add credible news sites to your feed to keep abreast of what's going on in the world. Be on the look-out for fake news though. They often have sinister motives to sway public opinion on certain issues that serve a particular politician or organization. Make it a habit to cross reference news articles among reputable news sites.

Think like an Entrepreneur

Rather than leave your fate to a corporation to provide you lifetime employment, everyone is now encouraged to think like an entrepreneur. Once invincible corporations have faced disruptions from smaller startups and this has eaten into much of their profits. Thus, corporations are no longer able to offer the job stability employees crave for in the past. Think of yourself as a brand and continuously upgrade your skills depending on market trends. You also need to manage your own image by maintaining a professional social media presence.

I've made it a point to read biographies of successful entrepreneurs such as Jack Ma (Alibaba), Richard Branson (Virgin Airlines) and Elon Mush (Tesla). Even if you don't think you are into business and commerce, there is much to be learned from how these individuals view the world. Think of them as mentors that can help you navigate the rough waters of not only your career but life in general.

(Photo credit: Amazon.com)

No doubt that the job market has become more and more complex. It certainly not for the faint of heart. With the right tools and a positive mindset, you are ob your way to achieving your dreams.