2006 Emerging Trends – Create Your Career and Business Success
By Sharon Graham.
As we start into a new year, this is the time to look forward. Here are a few trends that we are forecasting for 2006 and into the future. As a career professional, you will want to review these insights and create your plan for continued success.
Forecast 1 – More job creation will increase turnover
Continued economic growth will create more jobs. As there are more jobs available in the market, individuals will be looking at new career opportunities. This will result in increased turnover within organizations. Therefore, employee retention will be an issue for companies.
As a career professional, you can leverage increased activity in the job search market. Organizational consultants should consider taking advantage of opportunities to execute employee retention programs within companies.
Forecast 2 – Retiring Baby Boomers will cause a talent drain
As “baby boomers” reach the pinnacle of their career, many of these experienced Canadians will be retiring from the workforce. Therefore, we can expect a talent drain in the labour market. Organizations will start to see a memory drain where there is a limited supply of experienced, qualified, and knowledgeable workers. As a result, employers are going to start to value experience over age. Consulting and part-time opportunities for experienced professionals will become prevalent.
You can expect to showcase your older clients’ experience rather than minimizing it, as you may have done in the past. Additionally, you may want to explore opportunities to provide organizational training and development services to companies.
Forecast 3 – Emerging markets will be hot
As our population ages and technology advances, we will find that many new services and programs will materialize. Leading-edge companies will seize emerging opportunities and there will be more initial public offerings (IPOs). High-technology and service industries in particular will expand offerings.
If you have clients that are considering a career change, ensure that they keep in the loop through industry associations, reputable newspapers, and trade magazines. You may suggest that they investigate the following high-tech sectors: nanotechnology, biotechnology, cyber security, information filtering services, online and mobile gaming, wireless anything, and digital online music and video. Other areas that will be expanding include: services for seniors, and hospitality and vacation packages.
Forecast 4 – Corporate globalization will expand
These days, China and India have seen their business opportunities expand at unprecedented rates though global strategic partnerships. Because this strategy saves costs, work will continue to be off-shored and outsourced.
Help your clients become more comfortable with non-traditional work arrangements. Executives may need to provide long-distance leadership and telecommuting will be necessary. You and your clients should keep current with technological advances and become comfortable working remotely as this trend will continue.
Forecast 5 – More mergers and acquisitions cause job redundancies
Economic growth means that, with increased capital and rigorous consumer demand, companies will be positioned to execute corporate mergers and acquisitions. With such activity, invariably comes downsizing due to job redundancies.
You will continue to see increased activity in the labour market due to downsizing. Remind your working clients that they must always be prepared for the unexpected with a resume and job search strategy. You may also want to act on potential business opportunities by providing employee outplacement services to organizations that are terminating employees.
Bottom Line…As a Career Professional you must stay current, keep up with the trends, and consider expanding your services to succeed in 2006 and into the future!