Trends affecting career change and influences from 2020 and how to leverage them for working lives will be the key themes from @HerminiaIbarra #DOPConf

Longevity, technology, work change and social expectations are the four major 2020 trends in light of the Covid-19 pandemic. #DOPConf
Previous ideas about longevity of careers and how we think about work are no longer valid with the changes in life expectancy. #DOPConf
Technology change entails fewer jobs, and corporate change brings cost reduction and higher unemployment, with gig work on the rise. #DOPConf #2020
Social change has driven "portfolio careers" and the pursuit of "passion" and worklife meaning and well-being. #DOPConf
From @HerminiaIbarra 's research, more meaningful work has emerged as the primary career driver. However, there are fewer clear career paths or trajectories, leading to questions regarding this paradox of choice and what this means for defining "success".
She talks about transition periods, which take longer than anticipated, are non-linear and under-institutionalised and therefore driven by individuals and more difficult. #DOPConf #2020
Answer-driven plan and implement approach is no longer helpful, but process-driven (experiment and learn) approach is harder and longer but more fruitful, leading to plan. #DOPconf
.@HerminiaIbarra talks about the increase in urgency which sparks this change, with both dissatisfaction and "pull" required for progress, with some relying on "saviour or bolt of lightning". Jolts in the form of major life events may be prompts but plan still required. #DOPConf
Working identity is a key factor, with "possible selves" enaction needed for movement. These selves include desired, "ought", ideal and even feared possible selves. #DOPConf
Period of liminality between old and new, with no clear identity, an unanchored sense of instability, with sense of "fertile emptiness" and risk of unwise decisions. @HerminiaIbarra identifies this stage as important for development of new identity and direction. #DOPConf
She explains that this liminal phase should be endured and not abandoned. Constraints are lifted, allowing for creativity and possibilities, leading to divergent exploration and delayed commitment. #DOPconf
This allows individual to try on possible selves and compare/contrast and leads to finding good fit, despite being an aversive process for some. #DOPconf
End of process hard to pinpoint, but has clarity of destination with a crystallisation of personal career story that begins to make sense. #DOPconf
This inner turning usually occurs in mid-life, early parental/peer pressure gives way to individuation. Mid-life brings sense of mortality, pressing search for meaning with increased longevity, better self-knowledge, revision of earlier goals, unexpressed facets of self. #DOPconf
Two patterns to this: younger changers have longer exploration period before embarking on one direction (external drivers prevalent); older changers have crystallise/exploit pattern who can express clearly what they have to offer (internal drivers prevalent). #DOPconf
Levers for change are same across age groups. Side projects are major motor, shifts in network to cut binding ties, "making sense out loud" with self-reflection are all consistent and critical levers. #DOPconf
Concluding, @HerminiaIbarra says that motives and drivers may differ across life span but identity building blocks are key levers and the process should be embraced. Thank you for a fascinating key note. #DOPconf

More from Economy

The International Monetary Fund (IMF) is analyzing damage due to COVID and projecting further severe consequences if current policies persist. They state “despite involving short term economic costs, lockdowns may lead to faster economic recovery by containing the virus”

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Note: This report doesn’t do a dynamic analysis that makes things much clearer, but it does a thoughtful statistical analysis based upon increasingly available data.

https://t.co/5Xmt8y7lCL

A few more quotes:

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“The analysis also finds that lockdowns are powerful instruments to reduce infections, especially when they are introduced early in a country’s epidemic and when they are sufficiently stringent.”

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“lockdowns become progressively more effective in reducing COVID-19 cases when they become sufficiently stringent. Mild lockdowns appear instead ineffective at curbing infections.”

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“The results suggest that to achieve a given reduction in infections, policymakers may want to opt for stringent lockdowns over a shorter period rather than prolonged mild lockdowns...

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I really think people have a very short-sighted view of the city and its key role in decades to come for the economy of 🇨🇳. Every so often, people have a handful of misconceptions about the city's future because they lack of basics in strategy 👇


https://t.co/6wuRzXGkYZ The West propaganda seems to make people think we are cracking down on 🇭🇰 people because we no longer need them and we will inevitably suppress their rights. Every now and then, I talk with people in 🇭🇰 who think the Great Firewall will extend to 🇭🇰

🇺🇸-led liberal order is very strong to come across 🇭🇰 people and make them believe what they want. Brainwashed people don't think rationally and fall for the lies and propaganda. This guy is one among so many others I met in 🇭🇰 who told me the same thing, that the city is doomed

They couldn't be more ignorant ! Unfortunately they will end up leaving the city and missing out on incredible opportunities... But they don't know that nothing will eventually change after 2047 ? 🙃Let me explain you why

I bet even after 2047 🇭🇰 will still enjoy a high degree of autonomy and freedoms that its mainland counterpart can’t enjoy : an independent legal and financial system, English as one of the official language, an access to the West internet, its traditional medias, etc.
The argument for deficits & debt raising interest rates in the US is not increased credit risk, it is that interest rates are a function of economic fundamentals, flows & policy. Deficits/debt change those.

I can't tell if I'm agreeing or disagreeing with @jc_econ.


Increasing government spending or reducing taxes increases demand (or reduces saving). This raises the price of loanable funds or the interest rate.

In a dynamic context, more demand means a stronger economy, the central bank raises interest rates sooner, and long rates rise.

(As an aside, we are not close to the United States needing to worry about credit risk and the risks are more overstated than understated in most other advanced economies too. But credit risk is not always & everywhere irrelevant, just look at the UK in 1976 or Canada in 1994.)

Interest rates have fallen over the last 20 yrs while debt has risen. This does not necessarily mean that debt rising causes interest rates to fall. It could also mean that other things have happened at he same time that pushed down interest rates more than debt pushed them up.

The suspects for these "other things" include slower productivity growth, slower popln growth, higher inequality, less investment, etc. All of which either increase the supply of saving or reduce the demand for investment, reducing the equilibrium interest rate.

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