Power of lifelong learning – cautionary tale from a former colleague

By Alec Hogg

Had a cup of tea with a former banking colleague. He was one of the rising stars during my spell in the bank. Soon after I left, he was enticed across by another of the Big Four. This was the first time I got to hear his story. It serves as a cautionary tale against complacency. Especially for those who feel settled within large corporations.

For some years, things went really well at his new home as he met each fresh challenge. He agreed to head one of the bank’s key new projects, another step towards the executive suite. But six months later he was retrenched – one of hundreds of people who were collateral damage from a boardroom decision to ice all the newer projects. The board wanted to drop the headcount. It used a blunt knife.

My associate has regained his footing. But it was a struggle. The biggest lesson he says was appreciating that it’s no longer enough to work at becoming “indispensable”. When captains of oil tankers change direction, they care less about disturbing fish that might be in the way. The best protection against becoming another statistic is up-skilling, having a real a commitment to lifelong learning. In this turbulent economic age, a time will surely come when new skills will be needed to land a new job.

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