Skill Set Obsolescence : Mitigating the risk at an individual level

A Few Thoughts on Skill-Set Obsolescence

One of the in-vogue-things in the modern world today is the suspected onset of AI etc enabled job losses. It came to me in a meeting yesterday, when for the first time I was confronted with the impact of technology on Jobs. . It came to my mind - so what is new about this? Throughout history in-demand Jobs, Skill sets have been changing; this is actually par for the course ... ledger accounting of the 70s has now given way to computer based accounting, for just one example; manpower intensive production of the earlier times has given way to leaner systems, for another example.

Image Credit : Canva, Photo by Matan Segev

WHAT IS NEW HERE?

What is new about this shift from one skill to a newer one, basis technological change? Nothing... this has happened before, and will for sure happen again. That is the nature of life itself! Admitted, this time the scale is larger due to the pace of technological advancement combined with the higher population or sheer numbers of people involved. That apart, there is no real difference between earlier and the now.  Also admitted that scale of the change is itself something that changes the ground scenario as well as perspective.

LETS PAUSE, TAKE A STEP BACK

But lets us pause here for a moment – take a step back, and think a little, look at the scenario dispassionately, and the involved parameters. As an individual, you have to earn a living; and the world is changing around you. Your skill sets are no longer or will no longer be relevant pretty soon. So what do you do? You can hear the talk around you, read in the news, get it in your industry updates. Choice is yours, what do you do?

HOW CAN WE DEAL WITH THIS?

Can you stop the change? Clearly, you cannot. The options become clear – survive for the time being while identifying skill sets that you can develop, and which form a marketable future, where there will be some demand for them. And then up-skill in those areas. That is the only real way to deal with this change that is coming upon us. Yes, there is some risk involved – namely, will the new skills give opportunities and a comparable lifestyle? But the alternative – survive till feasible.., and then, when the curtain falls… do what?

MITIGATING RISK

But these – and other – risks can be mitigated by proper planning and the right attitude. First, the attitude: remember, you are dealing with the uncertainties of the future. This will take patience – so first of all, learn to put your head down and be patient. Second, a searching questioning attitude, being on the lookout for relevant emergent areas/skills where you have a chance of making it. Third – acceptance, humility and dispassionate reasoning, which will enable you to generate a variety of choices and directions to go into.

The other aspect is planning – this in the current case simple means understanding that the future is uncertain, and going accordingly. Thus, in practical terms this means looking for a variety of areas, developing a few options in the initial stages which can then be cut down to one or two focus areas. Next, it also means regular reading around emergent trends in a variety of areas, as well as networking. Both will help you to keep abreast of the changes on the ground. But the key is patience – this is a time consuming process. And the ability to  let go of the past as the primary  aspect… accept that the new path is just that, new; that earnings will be different {higher, or lower could be either}; that the start will be slightly challenging…

IN CONCLUSION

Lastly, let me come back to underscore the attitude required in this, the concluding paragraph. Doing all of this requires humility, the ability to say or ask “I don’t know; help me learn; what is happening etc”. It also requires jettisoning some impressions – like “I am past the age where I can learn new skills etc”. If, for example, as a marketer, you do not know digital technologies, or Digital Marketing, then best accept it, and learn the tricks. Forget your age, be it 30something or 40something or 50something. Go ahead and learn it! And the biggest point - it requires a questioning inquisitive open mind to learn & analyse trends.

It can be done; it isn’t easy – but it can be done. And frankly,  there is no other option, we have to do it at some point in time – yes, even you youngsters in your teens or early twenties will have to, at some point in your life. This is one hard rule of life. And you have to do it yourself… you may have or get support, that is another matter entirely – and that is the matter of the concluding part of this mini-series, where I examine a European Model of implementation in a similar circumstance… stay connected!