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How Safe is Your Job?

The experts are predicting another global financial crisis is around the corner. Investors are becomi
Disruptors Co
How Safe is Your Job?
By Disruptors Co • Issue #117 • View online
The experts are predicting another global financial crisis is around the corner. Investors are becoming more sensitive to bad reports and are bracing for a recession (predicted for 2020) by moving in to a defensive position in mid 2019. With the rise of artificial intelligence and automated jobs - even in the financial sector itself - the question you need to be asking yourself is whether your own job is secure.
There are a few indicators this issue is beginning to worry people deeply. Google is tracking a distinct upswing in searches on job security, and is predicting a whole series of rises in term searches like AI and jobs, automation and jobs, and so on.
And while robots might not be taking over your job just yet, there are still ways to safeguard your future employment in an era of financial uncertainty:
Firstly, you should be focusing on the distinctly human skills you bring to your job. The more communication and relationship-driven your role, the more likely it is to be sustained in a recession, because in a period of cutbacks, and beyond the bare essentials of business management, it will be the best communicators that can sustain ongoing partner relationships.
Secondly, you should be investing small amounts in new products that will improve operational efficiencies, both to validate effectiveness of these tools, and to lock in efficiencies before the crisis hits.
Finally, you should be considering how to capitalise on any crisis to improve the footprint and scope of your business. Perhaps counter-intuitively, a financial crisis can be a good time for a profitable business to acquire useful, but struggling businesses. Not only can this improve customer and transaction volume, but it can lend a degree of trustworthiness to a brand when the rest of the industry is scaling back. The trick is to find the right business to acquire, or with which to merge, in order to benefit both organisations. That requires substantive research. So start networking now. The more information you can glean from complementary or contiguous businesses (and the more you share with business decision makers), the better prepared you will be to grow your business in straitened times. And, consequently, the more value you will represent to your employers.

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