NEW DEFINITIONS OF SUCCESS In the future, the idea of ‘making it to the top’ will change as people take different paths to reach their full potential.
WHAT WILL FUTURE CAREERS LOOK LIKE? In the past, career paths were often limited to joining a corporation after a period of education, and staying there until the next opportunity came along. In the future, paths to success will be as individual as the people who take them. As we’ve seen, many future workers will continue the trend for working freelance, or on a project-by-project basis. According to Intuit ‘contingent’ workers (including part-time, contractors, temps and the self employed) are expected to make up 40 percent of the U.S. workforce by 2020. Meanwhile, more young people, inspired by a new generation of entrepreneurs who bypassed traditional career paths to the top, will set up their own businesses. This is already happening, as research from RBS reveals a quarter of young people expect to become their own boss in the next five years. Therefore, how we define success will also evolve. Deloitte’s 2014 Millennial Survey showed that success won’t just be measured in monetary terms. Instead, it could mean inventing a cure for diabetes, mentoring others or simply spending more time with family and friends.
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LATTICES, NOT LADDERS In a world of multiple career paths, large companies will still be important. The prestige and experience they represent can act as a springboard for a young person’s career. Many people will want to work for a well-known and respected employer early on, who will offer appealing development opportunities. Later, they can then leverage their track record and sell their expertise to multiple employers, according to Cisco. Meanwhile, forward-thinking organisations are re-visioning career ladders as lattices, or webs, that allow lateral movement and multiple paths to leadership. So, rather than slowly climbing the career ladder, employees are given opportunities to shine across the company in many different roles. PwC’s Nextgen: A Global Generational Study found that employees will gain responsibility by providing innovative ideas, or adding value in a clever way, rather than as a reward for time spent at their desks.
