Opportunity knocks: How to make the most of industry changes

A changing industry landscape can actually be a great opportunity, writes Viva Energy's Talent Acquisition Lead, Nick Jones. It can be a chance to expand on what you do, use different technologies or look for different ways to increase efficiencies. You might even have a chance to work in a different organisation or industry, and gain some new skills and experiences.

There’s no denying that changes in the industry can be challenging. But there are plenty of ways to prepare yourself and make the most of those fluctuations. Here are some of them.

1. Networking

Foster your external relationships. A lot of people in large corporates are very focused on internal networking and don’t really keep their finger on the pulse outside their organisations.

Consider going to a networking training course. This is a good way to combat any nerves you may have about networking, and is an opportunity to network in itself. 

Make the first move. There will be plenty of people at networking events who may be just as uncomfortable as you. If you see someone standing alone, go up and have a chat. Both of you are no longer alone and you’ll probably have a pretty good conversation. Nine times out of 10, the person you’ve saved from standing alone will probably remember who you are.

You just need to get over that initial hurdle, break into a small group and be prepared to contribute to the conversation. It’s amazing how easily things will flow after the first few events that you go to. In a changing landscape, the new people you meet may become invaluable.

2. Continuing your professional development

Take advantage of organisational assistance. Everything we do at work changes at an exponential rate, so we always have to keep learning. If the opportunity arises, take up any studying, training or professional development opportunities offered by your workplace.

 

Push yourself. People who don’t seek opportunities are the people who aren’t capitalising on their situation or getting out of their comfort zone. Don’t go with the status quo; instead, really position yourself to be a desired hire if you choose to move organisations. The more you learn and challenge yourself in your current role, the more ready you’ll be to tackle change when it comes your way.

3. Using social media

Connect on LinkedIn. When it comes to social media, make sure every time you meet with someone new, you connect with them on LinkedIn. Also keep in contact with your previous colleagues and stay up-to-date with what they are doing. But remember, these same people will inevitably look at your online profile, so what you put on social media and how you portray yourself is really important.

Optimise your social media profile. Recruiters use social networks such as LinkedIn to uncover passive candidates in the marketplace, so while having a profile is great, you need to make it the best it can be. Your LinkedIn profile will also be compared to your CV, so make sure they match up.

4. Trying something new

Consider relocating. While the industry may be changing here, it could be different overseas. There are plenty of other markets that may still be buoyant even when yours isn’t. For example, if you worked in chemicals here and the industry slowed, you might consider relocating to the Singapore chemicals hub of Jurong Island. As a jobseeker these days, you need to think about where in the world your industry is stable.

 

Have a backup plan. Thinking about new things also means having a fallback plan. For example, consider the role of geologists. Geology is a very cyclical environment. When exploration is occurring, they’re in demand, they get paid very well and they have a lot of work to do. When the industry slows, geologists are usually the first ones to be out of work. A lot of geologists have seen these cycles come and go, and they’re ok with the fact that they might have to do non-career-focused jobs for a few months or years.

Don’t be afraid to have a fallback plan that may be completely unrelated to what you do. Find a temporary measure that will keep your skills engaged.

Meeting new people, continuing your education, taking advantage of social media and being open to new opportunities and skills will help ensure that if you’re faced with a changing industry landscape, you have the tools and attitude to move through it.