This article was originally published on Forbes Oct 6, 2024
The Job Market Has Changed—And So Should You
We’re currently in a candidate’s market, meaning employers are eager to hire. Yet many still struggle to fill roles. According to Manpower 2024 data, 75% of employers globally report difficulty in finding qualified candidates—more than double what it was a decade ago. This is true across industries and company sizes. Meanwhile, research from Indeed shows that U.S. job postings requiring a four-year degree have dropped to just 17.8%, as employers adapt to attract talent in a tight labor market.
Why is this happening? Because the definition of “qualified” has shifted, and it may be time for you to shift with it. Here are three reasons you might be missing out on opportunities.
1. You’re Defining Your Professional Identity Too Narrowly
Your resume might define you through the roles you’ve held, but that’s not the whole picture. Today, employers value your abilities—what you can do—more than just the roles you’ve held in the past. With jobs transforming faster than ever, what you can do might be more valuable than what you’ve done.
According to the Burning Glass Institute, we’re in the midst of the “Great Disruption.” Their skills disruption index, based on millions of job postings from 2016 to 2021, shows the emergence of new skills and a shift in the importance of existing ones. This means that the roles you’re used to may now require different skills, and your current abilities could open doors to jobs you’ve never considered before.
What does this mean for you? There are many jobs out there that require your skills, but they might be called different names than what you’re used to. If you’re only defining yourself through your past roles or job titles, you’re not positioning yourself for the opportunities of today.
To find these opportunities, step away from rigid job titles. Start focusing on your transferable skills—the abilities that stay with you across jobs, industries, and projects. Ask yourself, Where are my skills needed? What are companies calling the roles that require my capabilities? Stop searching for jobs by title and start searching by the skills they demand.
2. You’re Only Considering Full-Time, Salaried Positions
You could be working full time, but that doesn’t mean you need to be employed full time by a single employer. In today’s market, you have more options than ever. Think of your career as a puzzle: you can complete the picture through different roles, freelance gigs, self-employment or entrepreneurial ventures—not just one full-time salaried position. In fact, you should aim to manage four careers simultaneously: continuing your current career, maintaining elements of your past ones, building skills for future roles, and developing non-work activities like hobbies that enhance your capabilities. This multidimensional approach ensures you’re constantly evolving and prepared for what comes next.
The life cycle of jobs and careers is shrinking as knowledge ages more quickly. This means we need to continually learn, unlearn, and relearn new skills to stay relevant. If you’re clinging to one narrow professional identity or focusing solely on full-time employment, you may miss out on the flexibility and growth that come with more dynamic career paths.
Your professional and economic stability won’t come from a single profession or employer, no matter how great they are. It will come from your ability to stay relevant in the job market by continuously evolving your skills. Rather than fixating on job titles, focus on understanding who needs what you know how to do, how they’re describing those roles, and where you might need to fill gaps in your own skills.
3. You’re Not Preparing for Self-Employment
Throughout your career, you may need to integrate self-employment—either alongside salaried work or as a standalone path. As the traditional career model evolves, relying on a single employer for financial security is increasingly precarious. Many professionals find that blending self-employment with full-time roles, or even transitioning to it entirely, offers the flexibility and control needed to navigate today’s complex job market. According to a 2023 report by MBO Partners, the number of independent workers in the U.S. reached a record 64.6 million. This shift demonstrates that self-employment is no longer a fringe choice; it’s becoming a necessary evolution in a career landscape where job security is no longer guaranteed.
Self-employment provides autonomy, allowing you to bypass traditional gatekeepers like recruiters and managers, and gives you the freedom to choose projects that align with your skills and interests. It also diversifies your income streams, offering greater economic resilience when salaried work alone may not suffice. By integrating self-employment into your career mix, even temporarily, you’re better positioned to adapt to market shifts, continuously grow your skills, and maintain long-term stability in an ever-changing job market.
The sooner you start preparing for self-employment, the better equipped you’ll be to manage transitions, capitalize on opportunities, and retain control over your professional life. Whether you explore consulting, freelancing, or launching your own business, the key is to stay flexible and continuously build skills that will serve you well both in and outside of traditional employment.
It’s Time to Rethink How You Approach Work
As job roles and skills continue to evolve, so should your approach to work. Start by mapping out your skills, researching how they’re described in today’s job market, and identifying areas for growth. Flexibility and continuous learning—not job titles—will be the keys to your long-term career success.
Stop letting your resume define who you are. Your professional value lies in what you can do, not what you’ve done in the past. By thinking beyond traditional roles and embracing the possibility of self-employment, you’ll position yourself for success in the evolving world of work.
