Unlock Your Potential: Converting "Redundancy Anxiety" into Career Growth Opportunities
In today's job market, especially in the fintech sector, redundancy seems to be a recurring theme. Hearing that word 'redundancy' isn't a pleasant experience, but it's becoming a common occurrence in the tech industry. Layoffs can stem from feelings of inadequacy, emotional baggage, and various mental health strains. However, it's critical to view this situation not as a setback but as an opportunity to bounce back stronger and forge new career paths.
During a live podcast episode of my series, Fintech's DEI Discussions, I delved into this sensitive topic. This episode was recorded at a meeting of the European Women Payment Network (EWPN) annual conference in London, where I serve on the executive board. With a live audience, I invited three inspiring women who have made it their mission to help fintech professionals turn redundancy into an opportunity for growth. In the light-hearted episode titled "Bounce-Back Careers, Bumps, Jumps and Squiggly Lines," we discussed the evolving landscape of a 'squiggly career,' support networks, and understanding value exchanges.
Meet Megan Dunford, a seasoned finance professional with over two decades of experience. She views her journey as a 'pathfinder' who thrives on tackling complex and ambiguous scenarios. Her role as a global leader in strategic planning at Western Union and COO of a known fintech led her to countless achievements. However, she faced layoffs in 2024. Instead of letting it knock her down, she used this time to focus on side projects and reflect on her career journey.
Megan emphasizes the importance of embracing 'squiggly careers' -- nonlinear and ever-evolving paths that make up the future of work. She encourages blending internal skills with external connections, building networks, and being aware of the external environment. Megan emphasizes the coming shift in work due to technological advancements, which will create and eliminate roles at a rapid pace. This shift will underscore the need for adaptability as 'upskilling' and 'reskilling' become essential.
Another inspiring woman in our conversation is Divya Eapen, who credits various shifts and challenges in her career for giving her the confidence to take risks and build her businesses. Divya shares her experience of working at a company that ultimately failed, but from that disappointment, she learned the importance of support systems in the rebuilding process. External validation, like getting support from cheerleaders and mentors, is essential in gaining and maintaining internal confidence.
Nicola, our third guest, sees redundancies as moments of unexpected opportunity. She emphasizes the importance of taking the time to reflect on your goals, core competencies, and non-negotiables before exploring new opportunities. Nicola shares her experiences working with both startups and corporations and the importance of accountability, value, and 'value exchanges' in choosing the right opportunities.
Redundancies are not waves to be weathered, but stepping stones to a fresh start. In this rapidly evolving field of fintech, workers must adapt to change and create stronger networks, focusing on adaptability and 'value exchanges' at every opportunity. So, instead of fearing redundancy, embrace it as a new page, another chance to rewrite your story in fintech with a fresh perspective and a strong foundation.
Squiggly Careers and Adaptability
Squiggly careers are the future of work. With technological advancements constantly reshaping the job market, adaptability and learning new skills become essential in staying ahead of the curve. Embrace change, blending your internal skills with external connections, and building networks. The future of employment will see a balance between automation and human input, requiring more candidates to be versatile in roles that need both soft and technical skills.
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- In the face of technological advancements, fintech professionals must embrace the concept of 'squiggly careers,' which are nonlinear and ever-evolving, to stay relevant in the job market.
- To succeed in a 'squiggly career,' it's crucial to blend internal skills with external connections and build a strong network, ensuring adaptability to the rapid changes in the financial sector.
- Reskilling and upskilling becomes essential in the fintech workplace due to the constant shift in roles caused by technological advancements, making workers more versatile and capable of handling both soft and technical skills.
