Good Prospects for Crisis-Resilient Personalities

Is now the right time to change jobs? On the one hand, companies are making significant job cuts, as seen in industries like engineering, automotive, and chemicals. On the other hand, there are resilient sectors such as energy, medical technology, food, and FinTech, along with functional areas like transformation management, sustainable finance, and risk management, which continue to offer stable or even growing job markets. Thomas Hoffmann, Managing Director at Robert Walters, shares his insights and recommendations for employees considering a job change.

The Labour Market in Transition

The job market showed a marked decline in the first quarter of this year. Many companies had to reduce their workforce due to economic uncertainties and global crises. For instance, Bayer cut 1,500 jobs in Germany, while Bosch and Continental collectively laid off more than 7,000 employees globally. SAP also reduced its workforce by 8,000 worldwide, and Miele cut 2,700 positions. However, the second quarter shows signs of improvement. Sectors that have proven resilient during the crisis are starting to trend upwards.

"Over the years, inefficient structures have emerged, which are now being broken down. This creates space for innovation and new jobs in forward-looking sectors," explains Hoffmann.

Candidates Should Embrace Technological Disruptions

The increasing use of Artificial Intelligence (AI) is leading to further disruption for candidates, as more tasks are automated, and data analysis is taken over by AI. At the same time, however, this can be advantageous in the current crisis, opening up new opportunities. Soft skills such as communication and building a strong network are becoming more valuable." Candidates who adapt early to these changes, acquire the necessary skills, and expand their soft skills can benefit in the long run", says Hoffmann.

The current shortage of candidates improves the chances for those who are exploring the job market. Hoffmann emphasises: "Think of your career like a garden – cultivate it with foresight and dedication, and start as early as possible. If you're unhappy in your current job, simply sitting back and waiting will not solve the issue."

Promising Prospects for Crisis-Resilient Personalities

Now is an ideal time for crisis-resilient individuals to prove themselves and advance their careers. "In transformation processes, leaders are needed who are adaptable, decisive, strong communicators, empathetic, and able to inspire and motivate others to achieve maximum performance," Hoffmann notes. "The positive aspect of these challenging times is that employees now have the chance to prove themselves and reap the rewards of their efforts in the future," he adds.

Embrace the Skill-Based Career Development Approach

Many are already familiar with the concept of 'skill-based hiring,' where companies make hiring decisions based on the applicant's skills rather than solely on formal qualifications like degrees or work experience. Hoffmann explains: "The counterpart to this, and an approach we recommend, is 'skill-based career development,' where you develop and advance your career based on your skills."

This approach means rethinking your overall career path and not sticking to a linear trajectory. The flexibility to explore different sectors and make career changes is becoming increasingly important and is now the norm in today’s working world. Consider which skills you excel at and think about which additional skills will be in demand in the future.

How to Approach Skill-Based Career Development

1. Self-analysis

Identify your standout soft skills, such as teamwork, communication, or problem-solving abilities. Think about how you can further develop these skills and how you can validate them with additional qualifications or certificates.

2. Recognise future trends

Stay informed about future demands in your industry or growth sectors like medical technology, FinTech, or sustainable energy. Technological competencies such as AI and data analytics are becoming increasingly important. Plan to acquire these skills.

3. Cross-industry flexibility

Be open to opportunities in different sectors. Career changes are becoming more common and often offer unexpected opportunities. This flexibility can significantly expand your career prospects.

4. Clarify your motivation

Reflect on your reasons for a job change. Are you focused on a salary increase, career advancement, or better work-life balance? Having a clear motivation will help you make informed decisions, especially when choosing between multiple offers.

Example: Career Development in Practice

"Let’s assume you’re currently a project manager in the engineering industry, which is facing uncertainty. To advance your career, you decide to expand your expertise in sustainability and green technologies. You complete further training in sustainable management and acquire a corresponding certificate. These new qualifications enable you to transition into the growing renewable energy sector, where your project management skills and knowledge of sustainable technologies are in high demand," explains Hoffmann.

Changing jobs requires courage and foresight, but with the right preparation and a clear strategy, you can turn uncertain times to your advantage and shape your professional future.

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