You Are Valuable, Until You Are Not - 5 Ways to Continue to Make a Good Living in 2024

 In 2024, software engineers who have been highly valued in 2023, might not be. Projected is that artificial intelligence will take over much of coding and software development. 

Already many in content-creation, banking, junior lawering and management consulting have experienced that shift in work trends. It's not only about the impacts of technology. Also factor in market demand, aggressive drives for cost-efficiency, high cost of funding, regulatory uncertainty with an election year coming up and geopolitical tensions.

For the humans caught in this disruption it can be soul-wrenching. And not just for those having their value wiped out. 

Way back when PCs were taking over clerical tasks in the Fortune 500, we Knowledge Workers bore witness to how those who had loyally assisted us were terminated.

"I am happy to give you a good reference." That's what we helplessly said. But we knew that the odds were against them landing such high-paying jobs again. If they were determined to remain middle-class they would have to retrain for other careers. Sure, we treated them to lunch and provided that kind of advice. At the time, though, they were too much in shock to absorb any of that.

So, here we are, going into 2024.  The "they" could determine you no longer have value. Here are 5 must-dos:

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PREPARE

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Prepare for that. None of us is special. Even that one-time proven executive Bob Iger is getting roughed up at Disney. His value has diminished, as showcased by the proxy fights and stock price. CEO turnover is surging. At high-profile public relations firm Edelman more than 200 seasoned employees got the ax. 

Network. That used to be to get ahead. Now it's to simply earn a good living. It's through people that you will find your next job/gig or receive solid advice on what line of work to retrain for and how. A client for my coaching practice, after being forced out of pharma, was introduced to long-distance driving by the father of his son's friend. His gallons humor is: How I dodged the bankruptcy bullet. Yes, he is now joking around.

Learn new skills, even if you assess that you can stay in your current field. Be ready to pony up the money for the training. It used to be we expected to learn on the company. Forget that. Research the tax-deduction implications. In addition, grab hands-on experience with the skills, even for no compensation. Skills, not raw credentials, are what are marketable. And companies are testing for them.

Emotion is out. Coping is in. Clients for my intuitive coaching business no longer pontificate on how things should be. They seek input on how to navigate what is. You bet, also keep your supposed mental-illness challenges to yourself, seeking out confidential treatment. That support you assume you are getting from your network could close off professional opportunities. I tell clients: Who wants to hire a depressed lawyer for their divorce! 

In positioning and packaging yourself, focus on how you can assist organizations to grow.. In more and more sectors it's grow or go. Law firm Paul Weiss keeps making headlines, which can attract new business and prevent client churn, because it is implementing aggressive global growth strategies. Those range from hiring star players to taking out a lease for mega space in midtown Manhattan. Clients/customers want to belly up to the movers and shakers. 

Overall Takeaway: Way back in the 1970s, career guide "What Color Is Your Parachute" was published - and shocked.  It outed this reality: The person who gets the job or the contract is not necessarily the most qualified. It is the one who is the best at knowing how to get work. You have to learn to be the best in the search in your niche or niches or on what new paths your career is heading.

Complimentary consultation. No pressure.  Please contact Intuitive Coach Jane Genova at 203-468-8579 (text/phone) or janegenova374@gmail.com.



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