Knowledge Hoop

The first post in the Aim to Win series was entitled Personal Branding During The Employment Search.  This post outlined tips that can assist in separating you from the masses while seeking new job opportunities.  Well, what do you do when you’ve branded yourself to win, but you’re still coming up short?  If you’ve found yourself beating the pavement, but nothing appears to be working out for you, it may be time to perform a self-assessment to ensure that you possess the skills that are required to compete in today’s economy. 

All across the country, communities are reeling from the impact of technological advances and the export of jobs offshore.  If you were in the textile, manufacturing, or customer service industries, you have likely been downsized or are aware of someone who has.  If your skills align with one of these industries, it’s time to chart a new career path. 

An opportunity to develop new skills should not be dreaded but embraced.  You now have a chance to think about what you’d really like to do and pursue it.  While writing this post, I am reminded of Katy Perry’s song, Firework.  One of the verses within the song says:

Maybe your reason why all your doors are closed

So you can open one to lead you to the perfect road…

As human beings, we like comfort.  That being said, many of us will not push ourselves to change until we are forced to.  What dreams or career aspirations have you deferred because you didn’t think you had the time to pursue them?  Perhaps you’ve always wanted a career in nursing or graphic design, or maybe you have no clue what career path is right for you.  You are not alone, and there are plenty of resources available to help you get started.  If you are unsure of where to begin, consider completing a career assessment or personality questionnaire.  A reputable site that has a wealth of information is www.careerpath.com .

Once you’ve identified your interests and are willing to take a chance on you, you’re well on your way to a new career!  Your new career objectives may require additional training.  Don’t shrink away from your aspirations because you fear the unknown, or are unsure of how to pay for it. Because of the economic downturn, Congress implemented several tax incentives to help individuals pursue educational programs.  However, you must act quickly; many of the tax incentives that are now available will expire within the next couple of years.  Additionally, please note that certain income range requirements may apply, and if you are married but filing separately, you do not qualify for education-related tax deductions or credits.  For more information on related requirements, please visit www.irs.gov.

• Tuition and Fees Deduction – As a result of the American Recovery & Reinvestment Act (stimulus funding), students can take a tax deduction for college tuition and mandatory school fees.  You do not have to itemize to receive this deduction.  Eligible expenses are reported directly on the 1040 or 1040A.  This deduction is temporary.  2011 is the last year that taxpayers can take this deduction.
• American Opportunity Act provides a refundable tax credit of up to $2,500 on an annual basis.  This tax credit is scheduled to expire at the end of 2012. 
• Lifetime Learning Credit is a tax credit of up to $2,000 per year for any level of college education – even graduate school.  There is no minimum level of enrollment required.
• Student Loan Interest – Tax payers may deduct up to $2,500 of Student Loan Interest.

In addition to the tax credits and deductions noted above, you should explore applying for educational grants as well.  This is free money!  An example of a grant that you may be familiar with is the Federal Pell Grant.  This is a need based grant with a maximum annual benefit of $5,550, and the best part of all is it does not have to be paid back.  For additional information on how to find educational grants, please visit www.educationgrant.com. 

Now that you’ve identified your interests and eliminated the financial fear factor, you should spend some time assessing future career trends.  An article on www.careerplanner.com, Top Jobs for the Future, stated that career trends are about change, and every change has a “driver”.  Common drivers are:

• Cost Savings
• Efficiency – Ability to do things faster and easier
• Safety and Reliability
• Environmental Impact

It doesn’t matter what industry you’re in, the drivers listed above are key factors in all business decisions.  So which industries should be on your radar?  The following list is not all encompassing but does include career options with great promise.

• Skilled Trade – Consider careers that require physical presence.  Examples of this include carpenters, plumbers, auto mechanics, hair stylists, and dental hygienists.  These are jobs that cannot be shipped offshore.
• Healthcare – People are living longer, and we are already seeing a higher demand in products and services for our “seasoned” generation.  As a result, the future looks very promising for healthcare workers.
• Marketing – Are you creative?  If so, this is an area you should consider.  With the Internet craze and increased competition, companies have to be able to differentiate their products and services.  A word of caution – mediocrity does not “live” here.  If you’re good, a career in marketing can be very lucrative.
• Energy – With energy prices on the rise, the dialogue on alternative energy sources will increase.  Pursuing educational programs that are focused on rebuilding our infrastructure or creating products and services that save energy is a safe bet.

Pursuing a new career may not have been in your plans, but I recommend you make the best of it.  Additionally, our world is changing at lightning speed.  You cannot view education as a onetime event.  Staying abreast of industry trends in whatever career field you choose is a necessity if you want to compete in today’s economy.  Embrace your change and buy a cool backpack!