With the fluctuations of the modern labor market, job loss, or what is known as “job redundancy”, has become part of the reality. According to an article published in Forbes, many employees experience negative psychological effects due to this challenge, causing them to face feelings of inadequacy and constant anxiety about the future.
However, it appears that dealing with these crises with flexibility and strategy can open new doors for professional growth, as highlighted in the FinTech Decisions series presented by Nadia Edwards-Dashti, a recruitment executive.
Accept “non-linear career paths”
Megan Dunford’s experience with Nadia, who spans over 20 years in the financial services industry, shows that losing a job can be an opportunity to re-evaluate one’s career path.
“We rarely get a chance to step back and think about what we really want to achieve in the future,” says Megan, who served as COO of a financial company until 2024.
Megan stresses the importance of building strong support networks and keeping up with technological developments to be prepared for the challenges of the labor market. She adds that “non-linear” career paths have become necessary in a rapidly changing work environment.
Building support networks and enhancing trust
Divya Eban, a risk management expert, spoke in the Fintech Distributions series about how to build self-confidence through support networks. “You need people who support you and nominate you for new opportunities,” she said.
She pointed out the importance of obtaining positive recommendations from professional networks and communities to enhance the chances of success in searching for new jobs.
Understanding value exchange in jobs
On the other hand, Nicola Dee explained, how people can better evaluate career opportunities by understanding the value they provide and get from work. “Ask yourself: Am I adding value? Am I valued? Do I value this opportunity?” she says.
In addition, Nicola stressed the importance of maintaining core principles at work, including the freedom to make decisions and contribute effectively.
The article stresses that losing a job is not the end of the road, but rather the beginning of a new chapter that requires flexibility and the ability to adapt.
Future success – according to Forbes – requires building strong support networks, focusing on value exchange, and turning setbacks into the building blocks of success.
