The COVID-19 pandemic in 2020 brought about a seismic disruption to the work landscape. Trends such as remote work, automation, and e-commerce, which had been gradually gaining traction, suddenly became the norm. As we grapple with the lingering uncertainties of the pandemic, our expectations concerning careers continue to evolve, reshaping the world of work in 2022.
The phenomenon known as the “Great Resignation” has taken center stage, with the US Bureau of Labor Statistics reporting that over 47 million people have resigned from their jobs since the onset of the pandemic.
Furthermore, demographic shifts are underway as a new generation enters the workforce, alongside a workforce that is experiencing extended working years and longer lifespans. These shifts raise questions about the traditional model of education, work, and retirement. Are we still inclined towards lifelong careers, or are multiple jobs and even multiple careers becoming more appealing in the contemporary landscape? The changing dynamics of work continue to provoke contemplation and adaptation as we traverse the post-pandemic era.
The role of networks
Research from London Business School explores the horizontal mobility that is so important for our careers. The researchers specifically look at the role of executive search firms.
Search firms are useful for employers in finding specific candidates, but they might not be the best option for job seekers looking to switch careers horizontally. Search firms tend to focus on candidates with prior experience in the desired role or industry, which can be a barrier for those seeking a new start.
The research found that executives who heard about job opportunities through search firms were less likely to make lateral moves compared to those who found opportunities through other means. Job seekers aiming for a change should explore alternative approaches beyond search firms, such as networking and personal outreach, to increase their chances of success in a different role or setting.
“It’s a good idea to start investing in your network before you get serious about a lateral job move, because it takes time to build the right connections,” the researchers explain.
Career moves
The study focused on MBA graduates who embarked on their career journeys in the 1960s and beyond. The research aimed to understand the factors influencing their job transitions during their prime working years.
The study participants were asked to provide detailed information about their employment history, including periods of working for a single organization, contracting, founding companies, or experiencing unemployment for six months or more. For each employment spell, respondents answered questions related to the company, industry, location, job title, function, promotions, and compensation.
After excluding initial job placements and entrepreneurial ventures, the researchers examined a total of 1,342 job transitions made by 816 individuals. The analysis revealed that executives who learned about new job opportunities through search firms were 11% less likely to change their job function and 7% less likely to change their industry compared to those who discovered opportunities through other channels. The unmediated approaches included network connections (47%), job postings (16%), recruitment events (1%), and other means (11%).
From these findings, it appears that social and professional networks play a significant role in facilitating successful transitions into entirely new job functions or industries for high-potential professionals.
