As technology progresses, securing your job has become harder and harder. On Wednesday, an article published on TODAY stated that European banks have been rapidly downsizing with more than 60,000 jobs already cut.
Banks are expected to save about S$1.38 billion in hiring costs while investing slightly less than that in technology.
Now if you have yet to hear about FinTech, it’s time to get your head out from underneath your rock and start reading more Vulcan Post (-wink-). Short for Financial Technology, it is quickly digitising many banking positions, rendering employees moot.
This global career overhaul is not just happening in the banking industry. McDonald’s cashiers have been replaced by self-service kiosks and physical tour agencies have been given the boot by the Internet. Technology is quickly taking over jobs and leaving many out in the street.
But we are not here to be harbingers of doom.
Here are a few ways in which you can secure your career, without having to barricade yourself at the desk, refusing to leave.
Ensuring Lifelong Employability
The first decision you can take is to make the correct career choice.
According to the BBC, jobs that based on repetitive action are more easy to automate, which explains the very early replacement of the bank teller by the ATM.
On the other hand, jobs that require creativity (art and design), a caring heart (social workers, therapists) or high intelligence (managers) are a lot safer than others.
In fact, you can do a simple test to find your automation risk right here.
But don’t be too surprised when you get axed anyway.
Technology is evolving so rapidly that the robots in Japan are now capable of expressing even emotions.
Let’s be realistic though.
It is highly unlikely that technology will take over everyone’s jobs, think about the social and political repercussions! If governments are trying to reduce costs, having to support an increasing population of jobless individuals would deplete their coffers faster than it would replenish it.
No, technology would simply take over part of your job. Guess what, CEOs and Bosses, this means that not even you are completely safe. So what does this mean for your lifelong employability? It simply translates to the need of having the other part of the job invulnerable.
Think of it this way, it will encourage what more humans should be doing nowadays anyway – learning, thinking and creating. If you happen to find yourself stagnating there is no need to fret. There are plenty of ways to upgrade yourself in Singapore.
Taking The First Step
Starting with the WDA to Coursera, you will not find yourself bereft of choices. The latest addition to that particular bag of goodies is SkillsFuture.
If you remembered the $100 credit from ActiveSG to encourage Singaporeans to get up and moving, then SkillsFuture should come nothing new.
Singaporeans above 25 are given $500 credit to sign up for courses that will help them stay relevant. SkillsFuture Singapore (SSG) applies stringent checks on all courses to ensure authenticity, lest a second Tan Woon Chin appears.
To those not in the know, Mdm. Tan was caught cheating the WDA of $17, 522 for false claims.
The courses run the gamut from Effective Business Writing to classes training aspiring pastry chefs and bakers. Course prices are subjective, with partial subsidies of SkillsFuture credit.
Popular courses are ones like Big Data Analytics and the Korean language. For the aged learners, SkillsFuture also has Marketing and the more fun Wine Appreciation and Tasting Workshop.
For those feeling the heat in a banking career, SkillsFuture also offers higher level courses.
To ensure lifelong employability, SkillsFuture credit have no expiry date, with periodic top-ups by the government.
This does not mean however, that we should procrastinate. Society has been moving at breakneck speed for years now.You choosing to do nothing to do about it does not mean that others will wait alongside you.
When it comes to your own future, it is important to take the bull by the horns and simply do it.
So why are you still waiting?