Any business in any sector is ultimately vulnerable to disruption or obsoletion if it doesn’t plan and adapt for the future. Technological progress creates lots of opportunities but also leaves destruction in its wake. Much of that destruction exacts a human cost in the form of jobs that are lost as one company or industry supplants others. If you’re in an industry that is morphing, waning, or struggling to keep up with shifts in the economy, it’s understandable that you might be worried about your job.
Worried You Might Be in a Dying Industry?
Chances are you’re right — so plan your next move now.
January 04, 2021
Summary.
If you’re in a dying industry, it’s understandable that you might be worried about your job. The good news is that disruptions to business sectors don’t usually happen overnight and you should, with some foresight, be able to take steps to protect and/or shift your career path. One of the most critical steps is to think about your transferrable skills. What have you learned in your current job that can be applied elsewhere? What capabilities do you have that aren’t necessarily listed on your job description? If you hold a position of power at your company, you may also want to think about how to help your organization evolve its business model so that you are creating change, rather than being subjected to it.
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New!
HBR Learning
Career Management Course
Accelerate your career with Harvard ManageMentor®. HBR Learning’s online leadership training helps you hone your skills with courses like Career Management. Earn badges to share on LinkedIn and your resume. Access more than 40 courses trusted by Fortune 500 companies.
What's your next career move? Learn how to set yourself up for success.