“Reinvention” is a service to support executives that want to look towards career change and need help. It is in many ways many the next generation of outplacement and career advice.
A recent report from McKinsey’s supported the case for reinvention and outlined how careers are going to change over the next decade:
- 6 out of 10 occupations will have 30% of their activities managed via technology
- By 2030 the global workforce of 2.66 billion people will include 8-9% in new occupations
- 30% of work hours will be automated by 2030
- Estimated that between 400m and 800m individuals could be displaced by automation and need to find new jobs by 2030
- However, people will need to find their way into these jobs. Of the total displaced, 75m to 375m may need to switch occupational categories and learn new skills
- By 2030 there will be at least 300m more people aged 65 years and older than there were in 2014. As people age, their spending patterns shift, with a pronounced increase in spending on healthcare and other personal services.
- Globally, it is estimated that healthcare and related jobs from aging could grow by 50 million to 85 million by 2030.
There are a number of key points to consider from the above:
- Changing career paths will be commonplace and the need to reinvent will also become commonplace
- It is estimated in other research that there will be 30% less board level positions by 2030. So if 30% of the daily work level can be automated, this suggests that job satisfaction could be under great pressure which may lead to higher levels of depression and unhappiness unless managed
- The counter is that there will be – with the shifts in the age of the population and work patterns – both great opportunities for healthcare and hospitality as people will have greater leisure time
So there will be a genuine need for individuals to have support in reinventing their careers and this may replace the outplacement methodology.
Change can be difficult – especially for those that enjoy order and routine. This service is therefore bespoke to the individual as every client will have a different set of needs, aspirations and skills. Our role is to work alongside to find new purpose and new paths in life.
If you would like to learn more, then please contact Lauran.Bush@epmagazine.co.uk