Universal Basic Income* (UBI) is one of the most discussed economics topics at the moment (along with the blockchain technology and robot tax). If you’re wondering how it could affect your life in particular, imagine the scale of disruption that it will bring to the employment market.
We’re only in it for the money…
What would the world be like if you didn’t have to worry about money at all? Every month you get given a lump sum that guarantees you a decent lifestyle. On a scale of 1 to 10, how likely are you to show up at your office on a Monday morning? Would you still continue to work in your current role / at your current company / with your current boss?
What we can expect is a re-evaluation of our work-related needs and how they are being fulfilled (putting the money aside). We could start asking questions such as:
We would focus more on creating value rather than just preserving the status quo. We may start taking more work-based risks. We wouldn’t be scared to voice our ideas for fear of rejection / criticism or even job loss.… which leads us to...
The job search
In the world where we don’t have to worry about the money, the questions you ask yourself about that job you’d really like to go for or what it is you a really looking for from your next role could be very different to the questions you ask yourself in the real world. Let’s assume that you need more than the financial security that the UBI guarantees, for various reasons:
So now you consider yourself a job-seeker, let's move on...
What would be different in the new world is that you would need to justify why you actually want to work…. You would probably start off by summarising your values, passions, skills and attributes, to draw on previous roles and experiences to really highlight your strengths and abilities... You’ll need to sell yourself like never before!
However you choose to describe who and what you are, your career ambitions / motivations must be carefully considered and sound really convincing so you stand out against everyone else.
The selection process
Can you imagine how the recruitment process would change with the implementation of the UBI?
It’s hard to predict how companies will adapt and redesign their approach to make sure they get the best candidates (that meet their adopted talent strategy). They can:
No matter the strategy, let’s assume that you’ve met their basic criteria and made it to the interview with your dream company.
There is no escaping the “Where do you see yourself in 5 years” question.
Job interviews will still have that same principle of asking questions and getting the answers that both parties need to form an opinion. Although the discussion may now get a bit more abstract and dig deeper into your real motives and objectives. The meeting will also resemble business negotiations where both parties are open about their short-term plans and long-term goals.
Providing you wow’d them in the interviews, congratulations, you got the job!
Your job offer will probably include way more than just the salary. It would potentially describe your impact and would mention all the responsibilities that you’d enjoy taking on. It can also refer to long-term career goal you discussed during the interviews and the ways of achieving it by mutual efforts.
You probably won’t see the name of the position on your contract. Your role will be described in terms of the activities you said you’re keen on performing (drawing inspiration from holacracy****).
The Universal Basic Income reality (predictions):
… And if they’re not, they might not show up the next Monday morning. Hopefully it won’t be your favourite colleague or your boss!
UBI’s introduction is probably not happening anytime soon and money is still one of our major motivators. However, we firmly believe that there are roles out there that can offer both - job satisfaction and a comfortable lifestyle.
Our Accountancy, Legal and Tax consultants can discuss current opportunities on the market.
*A basic income (also called basic income guarantee) is typically a form of welfare regime, in which all citizens of a country receive a regular, liveable and unconditional sum of money, from the government. The recipient is not required to work or look for work, and the payment is given independent of any other income.
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