Improving Career Prospects in a Tough Economic Climate

The Covid-19 pandemic has sorely affected the global economy. Many organizations throughout the globe have closed their doors forever, countless jobs have been lost worldwide and millions of lives have been profoundly affected with long-lasting ramifications. For the past several months global economy has been struggling hard to survive and maintain status quo. In this scenario, even as numerous question marks punctuate the future of majority of the existing workforce, the addition of a large, fresh pool of qualified resources in a time of dwindling economic growth is a grave issue needing quick resolution.

Freshly qualified resources and those about to complete their formal education are facing various dilemmas and challenges, primary among which is securing a job in a difficult economic climate. Many are having a tough time trying to break into the market and fields pertaining to their formal studies and personal inclination. When compared to the past, contemporary graduates experience an irregular employment path which has a lot of challenges.

Large mainstream industries have so far been compliant in honouring job offers for current graduates. However, the progress bar for niche area industries has plummeted greatly. Experts have pointed out that goal-setting can prove greatly helpful for niche area professionals, even if one has set an inclined path towards one’s objective. While considering the diminishing available opportunities, one must start by assessing one’s knowledge about the industry - requisite skills and experiences. What are the various ways in which one can gain such skills and/or experience?

The study of customer experience has vastly outgrown itself from being a mere product or service-related transaction into a more theoretical and an analytical enterprise since the past few years. One of the earliest insightful studies on the subject that focused on the experiential aspects of consumption was Holbrook and Hirschman’s 1982 paper. The proposal centred around the hedonic premises of “fantasies, feelings, and fun” which according to original research by the writers ought to be included in understanding consumer behaviour, rather than harbouring the assumption that consumers are driven by pure logic while chasing after goods.

The pandemic will profoundly impact job prospects for a majority of this year’s graduates. Not only has the way of working changed profoundly, but also the types of jobs, roles, and the industries themselves. Recent events have brought to attention the fragility of food supply chains, the strong dependence on home delivery networks and the acute importance of health and social welfare; it is extremely unlikely that these and things of a related nature will diminish.

Recent events have impacted consumerism at its core, challenged all of its long-established aspects and brought to the fore the emotional aspects (like sustainability). These rapidly changing parameters shall determine the choice of careers, which would no doubt be extremely fast-paced, in the post covid world.

The fresh young graduates are advised to use their youth and energy to gain valuable experience and skills so that they become a valued asset in any field. For those on the lookout for a job of their interest, it is advised that they start by getting a graduate-level experience of one to three years, weighing their interests and options, and then making their moves.

As many people have been made redundant from their jobs from all kinds of companies, surveys indicate that people most affected are those employed in the travel and hospitality industry. The chances of picking up and overcoming its internal losses rapidly are very low, so a majority of the laid off personnel from this already overcrowded industry should have to move over to other fields if they want to earn a livelihood and support their loved ones.  

Even as this situation of suddenly being made redundant is extremely distressing and shocking to those laid off and their families, one has to be quick in deciding the future course of action, making judgement and forging a path. Another important thing that should be factored in is the rapid change of pace and the alteration of the corporate working style that the pandemic has brought about. So accept the change, the sooner the better and start determining and working on your plan of action. Think and understand logically with a calm mind, what aspects of your role have changed, what aspects have stayed the same, and how do you bridge the gap or find a route to continue your original job with an additional and enhanced skillset. Also factor in various personal facts - your savings, your loved ones and your alternate options for them in case all of your plans fails - this is especially important. Then set your deadlines for landing up new roles and start your search.

Explore all open options. Look for jobs which offer you a chance to use and exploit some of the skills which you already have. Make a list of those transferable skills, research the new industrial and corporate landscape for possible alternatives wherein people laid off from the travel and hospitality industry can fit. Some of the possible opportunities are agriculture, distribution, healthcare etc. Think of the sudden, abrupt career change situation as a blessing in disguise, a chance to try something new and making your mark on whatever new career you choose.

Statistics show that the travel and hospitality industry shall not recover to its previous normal in a short span of time; it shall at least take a number of years. So some sort of a formal retraining is the only major option left for laid off workers, unless they want to make use of their existing skillset and tread the arduous road of job-hunting. Make full use of those few weeks after your lay off to fully introspect your situation and meaningful options with a cool head, ones that seem to factor in your skills and experience quite comfortably. At this time, be very honest and open with your family about your present career situation and explain to them the path ahead that you’re going to tread on. They will support you fully in your initiatives, and more than that. Once the emotional challenges are surpassed, retrain if possible and try hard to get a job in a field that you can master and become and expert quickly.