For decades, we have been conditioned to chase the comfort of ‘permanent’ jobs, often without questioning why. This deep-rooted belief in job security was passed down through generations, shaped by past societal norms and economic realities. But does it still hold true today? In a world driven by change, agility, and innovation, it’s worth revisiting the myth of permanent jobs, where they came from, why they persist, and whether they still serve us in today’s dynamic work environment.
GEN X Mindset
I am a classic Gen Xer. My growing-up years involved recurring, near-daily conversations about getting into a ‘permanent’ job. Probably with the thought that I didn’t have to worry about my future. If one were to unpack the underlying message, what it meant was that I had to:
- Get a job that would assure me a ‘steady source of income’ through my various life stages, preferably right up to retirement, savings, and beyond.
- Have a job that would provide me with some ‘social security benefits’ such as insurance, provident fund, or medical benefits.
- Get ‘Leave benefits,’ perhaps for my marriage or for sickness.
- I have a sense of ‘stability,’ and I experience no turbulence in my job.
What was driving those aspirations was possibly my own parents’ background and their ecosystem. They saw large public-sector organisations, emerging private sectors, which signalled growth and opportunities for educated folk.
My generation saw liberalization and the subsequent opening up of a plethora of opportunities. BPO, IT, Telecom, Insurance, and whatnot. We also observed the trend of people changing jobs. People moved to jobs that fuelled their growth, for monetary aspirations, or because they challenged their thinking ability. And with it, in the early 2000s, one saw individuals beginning to go beyond the permanent job mindset. Millennials and some Gen Xers began to warm up to the idea of contract jobs, especially at entry-level positions. The pulls were plenty, and all of them were not just rational. But in hindsight, it was reasonably prudent. It presented the opportunity to work in professional settings, offered attractive salaries, and featured diverse and interesting projects, which catapulted one’s career trajectory.
Jobs Change
An interesting development from the turn of this decade is the significance attached to the stability index. Stability in terms of a candidate’s employment history is important to prospective employers. A decade ago, when I used to recruit candidates, it was difficult to sell candidates who jumped jobs every couple of years. As a hiring manager, I, too, looked for pretty much the same thing – stability. Clients are, however, most open today to exploring candidates with shorter tenures. As they seek diverse experiences, exposure to different sectors, and an openness to change.
I know of very successful CXOs who have moved jobs every 2-3 years and continue to be very much in demand. What’s important to note is that these job changes are mostly initiated voluntarily by the individual. In their quest for opportunity, growth, challenges, and exposure to emerging technology, they have taken this punt on themselves. The certainty of staying in the same job has come down significantly, and all this means just one thing. Increasingly, the workforce is no longer seeking jobs for life.
Technology Impact
Digitisation is fast-changing the business environment. It has significant human capital implications, particularly in terms of skills. The skills lifecycle is continuously getting shorter, and the pace is only set to accelerate. In this context, organizations no longer need fixed skills on a sustained basis, thereby triggering demand for skill upgradation. This situation highlights the inherent impermanence of jobs and debunks the myth of permanent employment.
The world of work is seeing the emergence of the gig economy. This draws its name from each piece of work being similar to an individual’s gig. Essentially, meaning a standalone performance, appearance, task, or activity. Temporary, flexible, assignment-based work will become increasingly commonplace in the years to come, centered around skill and expertise. Freelancers will drive this world of work, where an individual may hold multiple, diverse engagements with several organizations simultaneously. This is interestingly reflective of the mindset of the digital generation, also known as Gen Z ‘technoholics.’ They bring with them a career of multi-tasking ability and the capability to move seamlessly between organizations and engagements.
Rethinking What ‘Permanent Job’ Really Means
In today’s fast-changing world of work, the only real permanence we can count on is within ourselves. It’s no longer about holding on to a job for life; it’s about building a mindset that thrives on change. To stay relevant, we need a ‘permanent’ psychological makeup: one rooted in continuous learning, unlearning, and reskilling. The truth is that roles will come and go, and industries will shift, but our ability to adapt is what will keep us in the game. In many ways, the myth of permanent jobs is being replaced by the reality of permanent growth.
