The Power of Self Assessment

Several years ago, a colleague recommended that “one should periodically perform self assessment”. A discipline that was foreign to me due to lack of concrete goals and objectives in the early stages of my career as do many non-specialized professionals. My variables/qualifications in those stages are out of my control thus I heavily relied on ad hoc opportunities. Eventually, new skill sets and experiences I acquired over time enabled me to formulate a plan (not solely a career plan) that works for me. 

Where to Start?

“Start with where do you see yourself in the next 5 and 10 years” he said. “Do you plan to have family/kids? What do you want to achieve? What makes you happy?”. Certain career paths are more time consuming and require a lot of commitments. An understanding of where we see ourselves in the near future will help align our career and life goals. “It takes hard work and a lot of compromises to get to where I am today. My wife and I have active dialogues on career and life expectations“ he said. That night, I made a list of my 5 priorities in the next 5 years, set milestones, and deliverables. I know it is not easy for some but we should have a general idea of ideal salary, net worth,  lifestyle goals, etc.

Subject to Modification 

It would be great if life works out as planned but that is not always the case. My priorities have been modified several times since I made my list. Below are several factors to consider 

Evolving Job Market: some people choose their careers based on earnings (or what their parents believed are good for them). But the reality is we live in a rapidly changing market. These days the salaries of *successful beauty influencers or youtubers far exceed median base salary of doctors and attorneys. “You can make a lot of money doing something that makes you happy” think about that for a second (also note success is not guaranteed and some careers offer less stability). Are you happy with your career choice? More importantly, McKinsey Global Institutions reported that as many as 800 million of 2017’s jobs will be automated by 2030 worldwide. Can you be certain that your job will not be replaced by machines in the next 12 years? Or do you have what it takes to compete with skilled, experienced, and equally if not more driven professionals in a shrinking job market?

Being Comfortable Can be Dangerous: some roles are repetitive and many spend decades doing the same thing day in and day out with limited mobility. They become stagnant in their career paths and find it increasingly difficult to make career changes as time progresses. Why settle for the bare minimum? One should take on more managerial responsibilities and actively engage peers to stay ahead of their firms and market demands.

Reassess Existing Paths: Are you maximizing your opportunities and skill sets? Do you think you are properly compensated for your work? Our bank accounts should grow in parallel with our experiences and acquired skill sets. On the other hand, are you happy with your career choice because we should “work to live not live to work”. If you’re not satisfied with your existing job; it is never too late to try new things (perhaps explore other options while keeping your existing job for security).

Keep Learning and Developing New Skills: take advantage of cross functional trainings, leverage your time with decision makers to learn and seek career advices, or take classes to explore other opportunities. You might become the founder of the next global mega app. 

Peace of Mind

If our priorities change overtime, why do we bother to plan? Because it gives us a perimeter of our expectations in life. Maybe we did not fulfill everything on our lists but it gives us a good start and a set of goals to work towards with options to modify as we go. The key is to persevere and do not give up. Periodic self assessments keep us focused and help us grow and evolve with time.