The Job Security Myth Everyone’s Afraid to Confront

FutureSkill #9

Alina Okun, Bosco Verticale Inspired, Midjourney (2024)

Imagine waking up one day and realizing your job—the one you’ve built your career around—no longer exists. No warning. No backup plan. What would you do? For many, this is a nightmare waiting to happen.

According to a recent PwC Global Workforce study, nearly 50% of employees are concerned about their job security. That’s half the workforce worrying they could be next.

As we move up in our careers, we often master a narrow set of skills that align perfectly with our job. But what happens if that job disappears? Many find themselves stuck with a skillset that's difficult to transfer to new opportunities. With so many unknowns, from politics to AI, it's no wonder we worry about the future.

Job security is an illusion. Real security comes from investing in your own growth, not just your job.

What’s your backup plan if your industry suddenly vanishes? Have you invested in skills that go beyond your job title?

Your Job is Not Your Identity

For years, studies have shown that over 70% of people are unhappy at work. When we talk about this, we often blame bad bosses, toxic workplaces, and burnout. While these are real problems, they’re mostly outside our control. Sure, you can change jobs if you're unhappy, but changing a whole company culture? That could take years.

When faced with career uncertainty, many turn to the usual advice: upskill, network more, or find a mentor. While these strategies are valuable, they often fall short because they still tie you to your current job or industry. 

Upskilling might make you better at what you already do, but it doesn't necessarily make you adaptable to new fields. Networking might expand your connections, but if all your contacts are in the same industry, you’re still at risk if that industry declines.

The problem with common solutions is that they don’t fundamentally change your dependency on your current job. They focus on making you better at the same thing rather than broadening your horizons.

Turn Your Curiosity Into Career Insurance

So, what’s the alternative? It’s simpler than you might think. 

Think of your skills like a stock portfolio. Would you invest everything in one company? Probably not. Diversifying your skills is just as crucial for your career.

You don’t need to quit your job, but you do need to start exploring other interests.

It’s not necessary to make money from these new interests right away. The real value lies in learning and rediscovering excitement beyond your current role. Your goals at the beginning are to:

1. Feed your curiosity.

2. Bring back the excitement of learning something new.

3. Make you feel more in control of your future.

You might be thinking, "I'm already so busy!" I get it. Life is hectic, and work can be demanding. But can you find 30 minutes a day? Or maybe 2 hours a week? Even just one hour a week is enough to start.

Experimentation is Your Best Asset

I’ve experimented with a ton of ideas over the years:

1. Mid-2000s: I learned how to build e-commerce sites before Shopify, Wix, and other platforms made it easy to start online stores. I also learned about dropshipping, which wasn’t well-known back then.

2. 2010: I dove deep into franchising and even purchased one.

3. 2014-2015: I wrote a business blog about how famous companies got started. This was before newsletter platforms made distribution easier. Today, people writing about similar topics have hundreds of thousands of subscribers and make millions.

4. Pre-pandemic: I started designing my own line of products. I worked with factories in China, Hong Kong, and India. I even met with a factory owner from New Delhi when he visited New York. I learned about supply chains before they became a hot topic during Covid.

This is just a small sample of the projects I’ve explored. Each one taught me more than any book could. They helped me learn new skills, see things differently, and discover what I liked and didn’t like. There’s no way to predict what will work for you until you try it.

Why Diversifying Your Skills Pays Off

Choose activities that are different from your job. If you work with numbers all day, try something creative. If you talk to people all day at work, do something solo. This contrast helps you learn new skills and gives you a break from your usual routine.

5 key benefits of diversifying your skills:

1. It broadens your skillset, so you're not relying on one area of expertise.

2. It helps you adapt to change, which is crucial in today’s world.

3. It boosts your confidence because you know you have other skills and interests.

4. It brings excitement and fulfillment into your life, both personally and professionally.

5. It can lead to unexpected opportunities, possibly even new career paths.

Some might worry that their current boss would not be pleased with these outside projects. But often, it's the opposite. 

For example, Tim Denning, who used to work in banking, started writing online. His writing skills helped him get a promotion because these skills were unique, something most of his colleagues didn’t have. Later, Tim made online writing his full-time career. Since then, he has become one of the most successful writers on Medium and LinkedIn.

Start Small, Think Big

Ready to give this a try? Here’s how:

1. Think about what interests you: What have you always wanted to try?

2. Start small: Don’t try to do too much at once. Pick one thing and give it a go.

3. Make time for it regularly: Even an hour a week can make a big difference over time.

4. Find others with similar interests: Join groups and communities related to your passion. They can provide support and inspiration.

5. Be patient and keep going: Remember, this is about learning and growing over time, not becoming an expert overnight.

The most successful professionals aren’t waiting for job security to disappear. They’re already diversifying their skills. Don’t get left behind.

Invest in Yourself Before It’s Too Late

If you take one thing away from this article, let it be this: Don’t let your job define you. By exploring new interests and developing diverse skills, you’re not only creating a more interesting and fulfilling life but also preparing yourself for the future.

With industries evolving at breakneck speed, waiting until a crisis hits is no longer an option. The time to start exploring is now. 

Your new project could become your future career, or it might just make your current job more enjoyable by giving you a fresh outlook. Either way, you’re investing in yourself, and that’s the best investment you can make.

What’s the one skill you could start learning this week that would future-proof your career? Leave a comment, or better yet, commit to taking action and share this article with someone else ready to invest in themselves.