Jump to content
  • Luuk Jacobs
    Luuk Jacobs

    Sign in to follow this  

    Restarting your career after a break…where do you start?

    Katherine Forster hit the headlines recently when she became an intern. But she is no ordinary intern – she is a 48 year old mother of three who had taken a 15 year career break and bagged her new role by responding to a tweet from The Spectator magazine.

     

    While this story may astound you, Forster is not alone in trying to re-enter the workplace. According to research by PwC there are nearly 500,000 female professionals currently on a career break who want to return to the workforce in the future. Three in five of these will face the frightening prospect of moving into a lower-skilled or lower-paid roles, with an earnings reduction of up to a 33%.

     

    If you’ve taken a break from your career for a number of years and focused your life on your family, yourself, a parent or any other reason – don’t let these statistics put you off.  While you may want to return to your career and continue from where you left it in a similar role, or discover another role or industry, it’s important to take stock and understand the new landscape.

     

    When you re-engage with your network, former colleagues and people in the industry it’s highly likely you will notice that in the time that you’ve been away, things have significantly moved on. It’s not only regulation which has impacted how things are done, technological advancements have really changed your whole industry. Your core skills are definitely still of value, but on the other hand you need to get on top of the new skills which are now a prerequisite in the industry.

     

    It’s not all bad news though. The industry would have been looking previously for the specialists whereas now a more diverse set of skills is highly rated. Diversity in the workplace might often be described around gender, age, education, sexuality, etc. What they combine in the end is the diversity of thought. Companies are no longer looking for who fits in, but are much more interested in a group of people that bring different ideas, methodologies, creativity and views to the table.

     

    How to bring your career back to life

    The first question is where exactly to start your journey back to work. Keeping up with trade news and your industry colleagues on LinkedIn is essential. The changes afoot in the professional world can equally help you here as well. There are now multiple organisations that aim to bring back people who have taken a break. For example, the Diversity Project is running various events around individuals who have taken an extended career break and are now looking to return to the workforce in financial or professional services.  There are also returnships which focus on higher level internships which act as a bridge back to senior roles for experienced professionals who have taken an extended career break. They are professionally-paid short-term employment contracts, typically of 3-6 months, with a strong possibility of an ongoing role at the end of the programme. Participants take on commercially significant work based on their skills, interests and prior experience, obtaining a supported route back to a professional role. It is a great way to update skills, knowledge and experience in your previous sector/role or possibly to transition into a new sector.

     

    Mentoring support

    In all of this mentoring or coaching can greatly help you to get up to date on what is and has been happening in your industry and what is expected from candidates in the market place. Equally with getting in touch with the people in the industry that have a high proficiency in the skills you have to upgrade could greatly help you in finding that position in which you can continue you your career again.

     

    AlgoMe is a career management platform that empowers you to take control and gives you direct access to that mentor; through a simple three step process of creating your account, adding your skillsets, aspirations and mentoring needs, and AlgoMe proposes you matches. AlgoMe will validate suitability before sharing the options with you. If you like one of the options proposed, you can send an introductory message directly to your match. You will have taken the first step in your path to your renewed career success.

     


    Sign in to follow this  

    Share this  

    Member Feedback

    Recommended Comments

    There are no comments to display.


  • Our picks

    • I've been trying to track down details on that statement from the CBI, but I'm not sure they elaborated on what the "unintended consequences" could be - I assume one could be wage inflation due to reduction in the negotiation advantage of the employer.
       
      Whether this is a bad thing is debatable when (by some measures) wage growth has been stagnant in the UK for longer than any time since the Napoleonic wars..
       
      Reality Check: Is pay growth the worst since Napoleon?
      WWW.BBC.CO.UK Reality Check examines the claim that real-wage growth is at its worst since the 18th Century.  
    • How do we solve the the Asset Management industry issues of today and tomorrow?
       
      We think we might just have the answer.
       
      When we created AlgoMe, we set out to empower professionals so they can manage their careers through technology, data and industry insight. With our career management platform, we‘ve delivered this but we know there‘s much more to be done.
       
      The Asset Management industry is in a state of flux. Right now lower fees, higher costs, new technology and increasing regulation, along with changes to the workforce, mean we need access to technology, data and industry insight more than ever before. This is why we‘re taking an exciting step by opening AlgoMe Community, the place that brings the Asset Management industry together to drive open conversation and essential innovation.
       
      AlgoMe Community is a members-only community exclusive to the industry and associated professions.
       
      Membership is free, members are verified and use their own names to create a profile – here are the key benefits:
       
      1. A community for Asset Management
      We have created a standalone space for asset managers meaning discussions and groups are centred around highly relevant areas and get to the heart of issues quickly. We will also be hosting regular events both online and offline to address industry challenges and help our members drive the agenda.
       
      2. Keep your finger on the pulse
      Not sure about Brexit or SMCR? Want to know what the latest research on AI is? The AlgoMe Community gives you direct access to all of these discussions. AlgoMe is working with a number of partner organisations to bring you the latest thought leadership, insights, blog posts and white papers to keep you abreast of the latest trends in Asset Management.
       
      3. Grow Your connections outside of your existing network
      There are a lot of bright minds out there. Over 40,000* people are currently working within the Asset Management industry according to the Investment Association. This number is likely to be 200k+ across Europe with the firms and organisations that make up Asset Management ecosystem. That’s a lot of new connections to make.
       
      4. Grow your personal brand
      Building your personal brand is critical to a successful career. AlgoMe Community gives you a platform to build your credibility and authority among your peers. It’s also easy to start your own blog to get ideas a wider audience and build up a following of other members.
       
      Join AlgoMe Community for free today and connect with the Asset Management industry.
        • Like
      • 0 replies
    • Revolt announced it will be offering ETFs to its customers....
      http://igniteseurope.com/c/2090843/247783/revolut_offering_bound_appeal_investors?referrer_module=emailMorningNews&module_order=3&code=WTI5c2FXNHVibWRBWVd4bmIyMWxMbU52YlN3Z01UQTROemN5TURRc0lERXlNVFV4TkRjMk5EWT0
      • 2 replies
  • Welcome to AlgoMe Community

    Join the community connecting the Investment Management industry and get access to insights, discussions and events.

    Sign up for free today.

  • Categories

  • Similar Content

    • Andy Milner
      By Andy Milner
      An interesting article from the New York Times on the importance of mentoring. It highlights the fact that having a mentor is less common than it used to be, which reflects AlgoMe's view due to the move away from traditional career structures and ladders.
       
      Why Mentoring Matters, and How to Get Started - The New York Times
      WWW.NYTIMES.COM Professional mentorships used to be the workplace norm, but today they’re hard to find, even though they matter more than ever. Here’s how to find one, and how to get the most from it.  
    • Luuk Jacobs
      By Luuk Jacobs
      AlgoMe is a relatively newly launched concept so we were delighted to be named as one of the top 10 Wealthech stories in 2017 by Banking Technology Magazine last month. We hope to bag similar accolades in 2018 which means Rob and I, along with the rest of the team, are working extra hard to achieve that.
       
      In a busy few months since our go live last July, we’ve continued to evolve the platform and optimise it. True to our promise, we’ve matched mentors with mentees and vice versa. We’ve also made successful career matches for professionals with roles which suit them in companies they really want to work in.
       
      Recently we made it even easier for the growing AlgoMe user-base to manage their careers on the go with the launch of our mobile apps available now for iOS and Android too.
       
      As 2018 unfolds, we are reaching out to companies across the City to give AlgoMe demos and share some interesting insights in employment trends and skills. If you would like us to come and give you the AlgoMe demo and find out how we can work with your HR departments, project leader and teams and to get the best talent, please do get in touch with me using this email [email protected]
       
      You can watch this video to find out more about AlgoMe and why we created this start-up which is set to challenge industry conventions and create career mobility in Asset Management, Fintech and the wider Financial Services industry. 
       
       
      This shorter video takes you through the platform and how to sign up to AlgoMe.
       
       
      The AlgoMe app is available to download on iTunes here or Google Play here.
       
      For those of you who want to get inside the industry mindset, do check out the AlgoMe Career Satisfaction Benchmark Survey. You can download it now for great insights and advice.
       
      The report supports professionals and companies by helping them to understand how to manage their roles and ambitions successfully – especially when it comes to identifying needs and weak spots. Please enjoy the read and feel free to share this with your colleagues and HR.
×

We use cookies to give you the best possible experience. If you continue, we’ll assume you are happy with this. For further information, see our Privacy Policy.