Project Management Institute

2020 Jobs Report

Ahead of the Curve

BY ASHLEY BISHEL AND AMANDA HERMANS

ILLUSTRATION BY DANIEL STOLLE

img

After years of a buoyant economy and tight labor market, the business tides might be turning. Fears among economists and business leaders range from global recession to mere stagnation. Nearly one-third of CEOs are projecting a decline in global economic growth—a record-breaking jump in pessimism over last year's mere 5 percent, according to PwC's 22nd Annual Global CEO Survey.

Yet project professionals needn't lose hope. While a downturn may put a damper on hiring, opportunities still exist. Businesses have learned that emerging from the slump stronger than competitors requires projects and project teams that can streamline operations and bolster efficiencies—plus, organizations must continue to invest in innovative initiatives. For instance, 85 percent of CEOs believe that artificial intelligence (AI) will significantly change the way they do business in the next five years, according to PwC's survey. Similarly, executive search consultants ranked “actualizing digital transformation” as the top business issue for organizations across sectors, according to AESC's Executive Talent Outlook 2019.

There's no question that organizations will need project professionals to make these future-facing goals a reality.

Here's what it will take in key sectors to make a career move or get promoted:

Telecom
Financial Services
Energy
Healthcare
IT
Construction

This material has been reproduced with the permission of the copyright owner. Unauthorized reproduction of this material is strictly prohibited. For permission to reproduce this material, please contact PMI.

Advertisement

Advertisement

Related Content

  • PM Network

    Entry-Level

    By Scott, Lindsay Widening the search for your first project management role, taking a step up and building business analysis skills.

  • PM Network

    2021 Jobs Report

    By Wilkinson, A. One year after COVID-19 first reared its head, career repercussions are still rippling around the globe—and unemployment or underemployment remain pervasive.

  • PM Network

    Post-COVID Career Planning

    By Wilkinson, A. The worst labor market in more than a decade is a tough backdrop for career growth. Furloughs and layoffs have become commonplace, many college graduates remain sidelined, and those still on staff…

  • PM Network

    Next-Gen Resilience

    By Ali, Ambreen | Hendershot, Steve | Hermans, Amanda | Thomas, Jen | Wilkinson, Amy Younger workers have been hard hit by the global pandemic. But their determination in the face of uncertainty could help redefine new work ecosystems.

  • PM Network

    Pandemic Panaceas

    By Scott, Lindsay Project management recruitment specialist Lindsay Scott answers questions about job security, work-life balance and online exams.

Advertisement