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Transition to a new industry with transferrable skills
Many of you need to identify transferrable skills and then use them to move into a new industry. COVID-19, climate change and the Russo-Ukrainian war have devastated industries in different ways. If you work in one of the hardest hit industries, can you wait for it to recover or switch to a new industry?
A change of industry is very difficult, especially in later professional life. I want you to listen to a few podcasts where I’ve interviewed people who have made these types of transitions:
I would like you to also read the following posts on this topic:
You will find that this type of transition is neither easy nor straightforward. However, for many of you, this may be one of your few options when it comes to making it into retirement.
Let me give you some important steps in this transition.
Identify your transferrable skills
What is a transferrable skill?
According to the Indeed.com post Transferable Skills: Definitions and Examples, the definition is as follows:
Transferable skills are any skills you possess that are useful to employers in different jobs and industries. This may include skills such as adaptability, organizational skills, teamwork or other qualities that employers look for in strong candidates. Transferable skills can be used to position your past experience when applying for a new job – especially if it’s a different industry.
The same article lists the following as the most common transferrable skills:
- communication
- reliability
- Cooperation
- organization
- adaptability
- guide
- technology competence
Note that the first 6 skills are soft skills. Most of us who have been working for 30+ years rely much more heavily on our soft skills and leave the hard skills to the younger folks.
Listen to the latest episode
Identify both hard and soft skills that you “believe” would be valued in another industry. Note that I say “think” because, as you will see later, what you “think” is irrelevant. What hiring managers “believe” in the new industry is appreciated.
Which of your transferrable skills would you like to transfer to a new industry?
Identify a target industry
The next step is identification a industry to the target. Note that you must choose one and only one industry to target. First, make a list of industries in which to conduct your research.
You will look for two things:
- The Health of the Industry
- Are your interdisciplinary skills really in demand in the target industry?
The Health of the Industry
Some industries will have to reinvent themselves, like airlines. All you have to do is watch Southwest Airlines’ full meltdown this past holiday season. A combination of extreme weather (climate change), staffing issues caused by the pandemic, and outdated software
There are other industries, like auto, where we really don’t know the long-term implications. I live just outside of Guadalajara, Mexico and in 2023 there is still a shortage of new vehicles.
There is a shift towards electrification of the auto industry, but how fast will that happen, which companies will survive and who might go bankrupt will be the question.
You also need to consider the geography in which you live or plan to live in to determine the health of the industry in that area. Read the article Here are the US cities most vulnerable to climate change, according to Moody’s. It’s primarily either too much water, New York City and Miami, or not enough water, Phoenix.
You must do your research!
Are your interdisciplinary skills really in demand in the target industry?
Let’s say you’re a digital marketing executive in the hospitality industry. You can expect your skills to translate into many different online industries. You may be right, but that’s not something you can take for granted.
This is the time to get on LinkedIn and start searching for keywords, both targeting companies in your target industry. You want to search for people who look, taste and smell like you. These are people who have a similar background and experience as you but work in the target industry. This is the right time to ask for AIR – advice, insight and recommendations.
Have some open discussions with these people you reach and get their opinions. That means making yourself vulnerable, but learning early on that some industries don’t want to hire older workers, e.g. B. Advertising and technology, will save you time.
There is a dual purpose in doing this outreach. First, you should review your assumptions and remember that making assumptions is really dangerous. If you make assumptions, you may be suffering from an MSU disorder (MSU – Make Stuff Up).
The second purpose of this outreach is to build a network that can help you take the plunge. You cannot make the switch to a new industry on your own. You will need help with this.
When you have completed this step, select one and only one industry that you wish to target. Don’t confuse your message by trying to spread across multiple industries.
Rebranding in a new industry
We are branded in our careers in two ways, by our business skills and by our knowledge of the industry. In most cases, companies value industry knowledge more than the right skills. When moving into a new industry, you have to prove both.
You must do this by demonstrating industry expertise if you don’t have one.
If you read the posts and listen to the podcast episodes I mentioned at the beginning of the post, you will discover that both gentlemen I am referring to have rebranded themselves by producing blogs and podcasts about the industries in that they want to move.
I would encourage you to start a blog, podcast, youtube channel or post on Medium or LinkedIn. You have to show that you know your stuff.
This is an important step in the process and you need to be brave.
I will be writing new and updated posts on this rebranding step in the near future, but read the post Rebranding Your Personal Brand—It is Time?
Combine your transferrable skills with your new personal brand
As you heard in Alexander Bushek’s podcast episode, he used his blog to attend a panel at a major conference. In addition to his newly acquired industry knowledge, he was also able to demonstrate his commercial skills. Alexander’s biggest obstacle was himself. He had to be brave and speak his mind.
Similarly, you heard Daniel Elizalde in his podcast interview about how he used a podcast to combine his product management skills with his newfound knowledge of IoT (Internet of Things). He interviewed industry executives, but he didn’t just interview them, he added value to the discussion.
implementation
The final step is public relations. I encourage you to revisit the people you spoke to when defining the industry. Participate in as many real and virtual conferences as possible to make as many contacts as possible.
I’m in a mastermind group with a gentleman who has developed a platform for online worship. He recently attended an online religious conference and was able to get the names of many of the participants. He is now making contact with them to see if they will talk to him about problems they are having taking their services and putting them online. This is a great way to build relationships in the target industry.
In all my many professional stations, I have never made it on my own. There was always someone who helped me get across the finish line. Often these people are the weakest of your weak bonds. These can certainly be people who are not active in the target industry but know people who are. Here are some examples:
- financial advisor
- Accountant
- Lawyer
- hairdresser or barber
- chiropractor
- housekeeper
It’s not easy, but I hope this gives you a framework for taking this step later in your career. Of course, if you want help and support along the way, you should join the Career Pivot Community.
Have you done this before? Let us know how you did it in the comments.
Markus Mueller
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