The job market changes every year. But the impact has been profound ever since COVID, and also with AI's integration. Gone are the days when people saw their fellow workers as their competitors. Presently, their biggest challenge or competitor, or enemy, is Artificial Intelligence. People see AI as a virus crawling towards them to consume their source of living. But the corporate sector is not shy to enter the world of AI. Why hire and pay someone when they can use technology to do the same work?
Challenges in the Job Market and How to Tackle Them
Skill Gap
With the advancement of AI, traditional skill sets are slowly depleting. According to a report by the World Economic Forum, 39% of essential job skills will see a change by 2030. If people are not ready to move with the times, the job market will not be nice to them. When professionals have worked in an industry for a long time, it’s difficult to adapt to the new skills that the industry demands. For example, the education sector for a long time has used the traditional blackboard method. Now, with the integration of technology, AI and smart boards have become an integral part of teaching. Visual representation makes learning easier and interesting, and improves the grasping power of the students. But getting used to this development will take some time. So, it’s important to give the required training to teachers. At the same time, teachers also need to upskill themselves in this area to see growth in their students.
Skill Automation
Ever since AI has entered the market, it has taken over the monotonous work. It is used in the Application Tracking System, which has resulted in reducing the time taken to screen and select relevant candidates . AI chatbots are used for employee onboarding which resolves employee queries with great efficiency and assists them in adapting to the system faster. With the integration of AI in different areas, it has reduced the burden on business heads. But it also brings up the next question that’s currently prevalent among the workforce: “Will AI take over my job?”
The only way to answer this question is by learning the technology rather than fighting it. The current job market requires professionals who are familiar with technology. When you become an AI expert, you will be seen as a resource who can bridge the gap between technology and people.
But we also need to remember that there are certain things AI can’t get directly involved in. Conflict resolution, leadership, and emotional intelligence still require human intervention.
Global market and remote work
Ever since COVID, companies have been moving towards a hybrid form of work. Hybrid work requires professionals to be skilled in using platforms like Google Meet and Zoom. Work from Home is an option that employees are also embracing because it increases flexibility. Remote work also increases the talent pool as it allows professionals from different parts of the world to work for your country, hence increasing the competition in the job market. With so many people with top-notch skills, qualifications, and abilities, professionals need to make a mark for themselves. Personal branding using LinkedIn plays an important role here. Professionals can connect with people from their industry and market themselves by talking about their achievements and skills.
At the same time, COVID has also made the job market uncertain. Countries are going through various economic problems like inflation, changes in immigration policies, etc. When the future becomes uncertain, companies slow down on their hiring and become more cautious with their expenditure.
Skills in Demand
Certain industries, like healthcare, will thrive no matter what the situation is. Do research on industries that will never go dull. Learn the skills that will enable you to make a space for yourself in that industry. With a job market that keeps evolving, it is important to pick up on transferable skills.
Unnoticed in the Crowd
If your resume doesn’t cater to the job posting, congratulations, you are ghosted. Companies are flooded with generic resumes. If you want the job, you need to take steps to stand out. Don’t just list down your responsibilities. Talk about the steps taken to fulfill them and what were its results. Because numbers speak for themselves. Take time to research the company’s business ventures and products and create a business plan to show how you can add value to the company.
In Conclusion
History is a witness when it comes to how evolving the job market is. People who have embraced the change have been able to sustain themselves. Advancing technology does not have to be a hindrance to your growth. Employees always need to upgrade their skills, especially during an economic downturn. Economic slowdown makes the employers slow and finicky while hiring. See the heavy competition and pickiness of employers as an opportunity to learn and grow and eventually stand out.
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