Can Your Career Survive Transient Competitive Advantage?
Theodore Kinni of Strategy & Business highlighted a chapter in Rita McGrath’s book dealing with career change:
If our employers begin rejiggering their businesses’ portfolios at a faster pace, our jobs are going to get rejiggered more often too. And if that starts to happen, are you ready? McGrath offers the following 10 yes-or-no scenarios to help you figure that out.
1. If my current employer let me go, it would be relatively easy to find a similar role in another organization for equivalent compensation.
2. If I lost my job today, I am well prepared and know immediately what I will do next.
3. I’ve worked in some meaningful capacity (employment, consulting, volunteering, partnering) with at least five different organizations within the last two years.
4. I’ve learned a meaningful new skill that I didn’t have before in the last two years, whether it is work-related or not.
5. I’ve attended a course or training program within the last two years, either in person or virtually.
6. I could name, off the top of my head, at least 10 people who would be good leads for new opportunities.
7. I actively engage with at least two professional or personal networks.
8. I have enough resources (savings or other) that I could take the time to retrain, work for a small salary, or volunteer in order to get access to a new opportunity.
9. I can make income from a variety of activities, not just my salary.
10. I am able to relocate or travel to find new opportunities.
Any no answer indicates a potential vulnerability. If you answer no to five or more questions, McGrath warns, “It’s time for immediate action!” Welcome to the era of transient competitive advantage.