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Impact on businesses
Economic downturns can lead to business closures, layoffs, hiring freezes, and reduced opportunities.
Entrepreneurial impact
Entrepreneurs may face financial difficulty, but can also find opportunities in offering unique products or services that meet evolving needs.
Entreprenerurial Careers
Entrepreneurs often face challenges during tough economic times but can thrive by adapting to market shifts, innovating, and focusing on customer needs.
Downsizing
This is when a company reduces its workforce. It’s usually done to cut costs and improve efficiency, often leading to job loss or changes in job responsibilities
Flexibility
In the 21st century, employers value employees who are adaptable to change, can quickly learn new technologies, and handle shifting responsibilities
Teamwork
Collaborative skills are essential in the modern workplace. Team-based problem-solving, communication, and collaboration are critical.
Other skills
Communication, critical thinking, emotional intelligence, and digital literacy are also highly valued in today's job market.
Self-assessment
Before pursuing any career, assess your strengths, weaknesses, interests, and goals
Building a Foundation
Education, skill-building, and experience are key to laying the groundwork for success.
Emotional Intelligence (Definition)
Emotional Intelligence is the ability to recognize, understand, manage, and influence emotions in yourself and others.
Emotional intelligence (Importance)
High EQ is linked to better interpersonal relationships, effective leadership, and success in the workplace.
Gen-Xers and Career Perks (what they value)
value work-life balance, flexibility, and career advancement opportunities. They are also more interested in benefits like healthcare, retirement plans, and vacation time.
Reputation
Building a good reputation is essential for career success. This involves being reliable, competent, and respectful.
Self Image
How you perceive yourself affects how others see you. Confidence, professionalism, and integrity contribute to a positive self-image.
Informal Language in the Workplace
Informal language refers to casual, conversational language, often used among peers or in less formal work settings. Context: While it’s important to be professional, using informal language appropriately can create a comfortable and approachable atmosphere.
Fastest Growing occupations
Technology, healthcare, renewable energy, and e-commerce are some of the fastest-growing industries. Examples of occupations: Data scientists, healthcare professionals, software developers, and renewable energy engineers.
Lattice Career Paths
Unlike traditional hierarchical career paths, latticed career paths involve moving across various roles and industries, not necessarily in a linear upward fashion. Benefits: Offers flexibility, new learning opportunities, and personal growth through diverse experiences.
Informational Interviews
Informational interviews are one-on-one meetings where you can learn more about a particular career field, company, or job role. Goal: The goal is to gain insights and advice, not to directly seek a job.
Hiring process
Steps:
Application (Resume and cover letter)
Screening (Phone or initial interview)
Interviews (In-person or virtual)
Selection (Offer and negotiation)
Onboarding
Important: Tailor your resume and cover letter to the job. Prepare for common interview questions and research the company.
Adding a picture to LinkedIn profile
Impact: Including a professional photo helps increase profile views and presents you as approachable and credible. Best Practices: Use a clear, professional headshot with appropriate lighting and attire.
LinkedIn profile building allowances
Customization: LinkedIn allows you to customize your profile with your education, experience, skills, recommendations, and interests. Networking: You can connect with professionals, join groups, and showcase your work.