As we move toward a sharing economy in a globalised world, the idea of lifetime employment is rapidly evaporating. It is becoming more common for people to switch employers and even industries frequently and change paths, building a “portfolio career”.

Creating a core set of skills and some sector expertise so that one does not become a “jack of all trades and master of none” is a good approach, especially as you progress through your career. However, Pan Pan found that often the skills she has acquired from one job or industry became equally useful in a new role in a seemingly unrelated sector. And she quotes Steve Jobs, who said what inspired him most in the design of the transformational Apple iProducts was the knowledge he gained from a calligraphy class he took in college.

With the “internet of things” and sharing economy, which has drastically reduced the costs of information and outsourcing, not only business models but also workers need to adapt. “We are forced to move to the portfolio approach with jobs and careers,” says the author. Even if companies aim at retaining talented workers, people can be fired any time due to a restructuring, especially if they move up the corporate ladder, where there are fewer chances to dodge sideways in times of difficulty. The higher up the ranks and older you get, the harder it is to find a similar job in level and pay once you leave a job or get laid off.

“The new-economy requires people to not just learn new skills as they age, but to monitor the market for new opportunities,” advises Pan Pan. With the rise of project- and contract-based work enabled by technology platforms that cater to freelancers, more and more people are self-employed. All this means less stability and employment protection, although many self-employed people grow to value their independence. Research suggests that countries and companies with more flexible work cultures are more innovative and creative. The career path should also adapt to this new world order. “Only the innovative will survive,” she concludes.

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