Parental career guidance in VUCA world: “Who is accountable if my child fails?

In the seminar “Parental career guidance in VUCA world: legacy or inheritance?” held on 21 May 2021 by Olympia Schools, one critical question raised is whether parents should decide their children’s career or children will decide themselves?

* VUCA: Volatility, Uncertainty, Complexity, Ambiguity

One critical question is usually posed by parents: should parents guide their children or let them decide on their career choice? If yes, what should be the appropriate level of guidance? In the seminar, four business and education experts shared their different perspectives on parental career guidance.

Participation of Journalist Ta Bich Loan and other special guest

“Who is accountable if my child fails?”

“If I fail at a career that I love, at least that is still something I love. If I fail by compromising or letting others decide for me, that is double fail. I would rather follow what I love, fail and pay the price. But if I let my parent decide for me, will my parents hold accountable for my failure?,”

said Do Thuy Duong, CEO of TalentPool, inspired by Jim Carrey. This poses a question worth considering to parents. Should parents decide careers for their children? Previously, parents were more or less prone to asking their children “What kind of job will you do?” but now it has become “Who do you want to be?” and “Which life do you want to lead?”. Doing what kind of job should not be the first and foremost question anymore. When children envisage their desired life, job is just one among many “tools” to reach that.

Do Thuy Duong posed the question “Who is accountable if my child fails?”

Regarding the same topic, Ha Thu Thanh, Chairwoman of the Board Member of Deloitte Vietnam, said that any consideration should be attached to the VUCA world. The world is changing rapidly amid transformative technology, unstable natural environment, and unpredictable habitat.

“Whichever career choice, children must be strong enough to survive. And that is only possible if children have faith in their decisions. That is why VUCA-based career guidance should be taken into account. I am more keen on the question “How do parents know that their guidance suit their children and the world?” rather than “How do parents know that their children’s choice suits their expectation?” Children should be responsible for exploiting their potential. In a VUCA world, parents do not provide guidance and expect their child to follow but they have to explore if their child’s competence matches their guidance.”

Legacy or inheritance?

Economics Doctor Pham Dinh Doan, Chairman of Phu Thai Group, Chairman of Family Enterprise Committee also shared his own perspective. According to him, the mindset and thinking of children at high school or even higher education might not reach maturity yet. Parents can learn more about their children based on their interests and thinking but career guidance should be made based on many other factors. According to recent research, success is more driven by competency than passion. Passion is a cheery on the cake, while adequate competency is a must. The best occupation should align with both children’s passion and parental guidance.

According to Ha Thu Thanh, whatever employment they take, children should determine that they are making a career out of themselves. Before talking about career, parents should help children define who they want to become. According to a study of Deloitte, legacy is “based on family or enterprise existing value”. It is different from inheritance. Asset inheritance is different from value legacy, because based on value legacy, one shall develop and sustain into their own career.

According to Pham Dinh Doan, parental career guidance is essential when children are not mature enough to make informed decision.

Followed Ha Thu Thanh, Do Thuy Duong also shared that empowering children did not mean no company during the whole career choice journey. Parents are supposed to give advice and consultation to their children along the way. Parental guidance not only provides a clearer picture to children but also helps parents understand their children better.

“Not every parent has assets available for inheritance but they all have legacy for their children.”

Dr. Nguyen Chi Hieu, Academic Head of Olympia, said that over his 15 years working with a lot of students, more than 50% of them followed a very different path from their parental guidance in high school and college. Many even changed their major or pursued a different career.

Diverse experience and emotional intelligence are of high importance to career preparation according to Dr. Chi Hieu

“There are two critical factors that I want to mention. First, we are here and we do not know how VUCA world would be like. We cannot foresee all possibilities and thus our choice in the future. So we cannot be persistent with only one possibility now. I think even 3 to 4 possibilities are still short for our children. What we are want to deliver to them now is how to diversify their experience and connections and help them realize their passion. When I connected an Olympian student with a Facebook economics who talked about Facebook algorithms in three hours, that was the first time I saw him not dozing off during a lecture. That is the touchpoint I know having been wakened inside him.”

The second factor is the core competency and qualities that can be applied to many careers in the future. No matter which career one child pursues, may it be an auditor or an heir, if he/she does not have strong emotional intelligence and social connections in a VUCA world, he/she will be more subject to failure and ill-advised decisions.

Let your children experience as much as possible. One of it may waken the passion inside them. And we need to pose a question as to which qualities, competencies, and values we can empower them with to help them survive in the VUCA world.”

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Let your children experience as much as possible. One of it may waken the passion inside them. And we need to pose a question as to which qualities, competencies, and values we can empower them with to help them survive in the VUCA world.”https://www.facebook.com/103386776380435/videos/246858870558792