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Business

How young are you?

BUSINESS MATTERS BEYOND THE BOTTOM LINE - Francis J. Kong - The Philippine Star

When I meet young people and am curious to know their age, I would ask: “How young are you?” This time, the question expands to a broader base.

In a world that seems to evolve faster every day, it’s imperative to adapt to changing times, especially when it comes to our careers and personal development. The old notions of age and success no longer hold.

Time was when 35 was considered youthful, and 65 marked the threshold of old age. However, this perspective has radically transformed if we observe the world around us today. The once-youthful 35-year-olds are now grappling with newfound insecurities.

Let’s delve into some of the reasons behind this shift.

1. The challenge of building families: Many individuals in their mid-thirties find themselves wrestling with the demands of marriage and family-building, adding a layer of complexity to their lives.

2. Balancing act: Balancing work and family responsibilities can be overwhelming, making it difficult for individuals in this age group to pursue further education or personal growth.

3. Emerging competition: Young, ambitious professionals fresh out of college, aged 23 to 25, are keenly waiting in the wings to seize job opportunities. The competitive landscape is more cutthroat than ever.

Conversely, with advances in healthcare, science, improved hygiene, better nutrition, and regular exercise, people in their 60s feel younger and more capable than ever. They continue to contribute significantly to the workforce.

So, how can one thrive amidst this changing paradigm? And what would be the blueprint, and how could you thrive in a dynamic world? Let me offer a few ideas:

1. Contribution is the key

Your job is not just a means to earn a paycheck; it’s an opportunity to contribute value that exceeds your cost to the company. Job security hinges on your ability to provide value. It is a reality that your job is as secure as your ability to render value above what it costs to keep you on the payroll. Focus on enhancing your contribution to earn more or secure your current job.

2. Add value every day

In pursuing job security or when seeking new employment opportunities, continually find ways to contribute value. Remember, the competitive marketplace rewards those who consistently increase their worth. As you acquire education, knowledge, skills, and experience, view them as investments in your ability to provide valuable solutions.

3. Knowledge and education as sunk costs

Consider it a sunk cost once you’ve invested in learning a skill or acquiring knowledge. Employers are not obliged to pay you for your past education. They’ll compensate you for your ability to apply that knowledge to current challenges and meet the demands of today’s marketplace.

4. Prepare for your next job

Regardless of your current position, always prepare for the future. Stay attuned to market trends and identify industries that are flourishing. Adaptability is critical to career longevity.

5. Seek where the future lies

If your industry is shrinking, consider transitioning to one that’s expanding. The ability to anticipate change and pivot towards opportunities is a hallmark of successful professionals.

6. Never be without a job

There are three types of unemployment in the employment landscape: voluntary, involuntary, and frictional. Instead of waiting for opportunities, actively explore options by changing the type of work you offer, where you seek employment, or the compensation you request.

7. Three keys to lifelong employment

Be open to reinventing your career to ensure you never face involuntary unemployment. Explore different avenues, offer a diverse skill set, and be flexible in your demands.

To implement these insights, consider two immediate actions:

Enhance your value daily. Examine your current role and seek opportunities to add more value. There’s always room for improvement. Take the initiative to seek better roles, which will be critical for your career growth.

Next is to plan for the future. Identify your desired career path and work diligently to develop the knowledge and skills necessary for success.

Age is no longer a limiting factor. It’s not about who you were or are now; it’s about who you’re becoming. Your journey should be one of continuous growth and adaptation. Ultimately, our goal should be to strive for personal growth and become the best version of ourselves.

 

(Francis Kong’s “Inspiring Excellence” podcast is now available on Spotify, Apple, Google, or other podcast streaming platforms.)

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