Impact of the Global Megatrends, COVID-19, and Digital Economy on Professional Career Management Transformation in Asian Countries

Abstract

This research systematically analyzes the effects that global megatrends, digitalizing economy, and the continuing COVID-19 pandemic are having on the transformation of professional career management and changing professional skills for achieving career purposes and tasks, providing a competent approach to the labor market. It also suggests a sustainable career management process for people to prepare career goals, objectives, and ambitions in the rapidly evolving digital landscape. Following this aim, the secondary analysis of the literature reviewed aided in offering important information to satisfy the original research targets and aims. Thus, the study maintained an exploratory and deductive research design to analyze the qualitative data gathered on the phenomenon of professional career management under the digital transformation in Asian countries. The analysis reveals that some megatrends have transformed how professional career development occurs. This paper is novel because it provides a critical assessment of the global megatrends and the impact of the digital economy related to professional career management transformation, with specific emphasis on Asian countries during the COVID-19 pandemic. Thus, the paper redounds the extant literature, making a significant contribution to the current debate in the literature. Additionally, it is expected to contribute to the sustainable development of the labor market in Asian countries based on system research and converging the concepts of transformation processes in professional career management affected by megatrends with theoretical and methodological support.

1. Introduction

The world appears to be in the midst of profound changes. Business researchers and analysts have always been interested in examining major emerging trends in the broader field of human activity and the natural environment that have been shaping the business sector. These major trends have been termed as megatrends due to their profound impact and massive implications; particularly for the business/corporate sector. Megatrends, such as globalization (interconnectedness), technical progress (innovation and advancement), demographic changes (increasing rate of young population), migration (for better career and professional prospects), and climatic changes (global warming), including unpredictable global crises, such as the COVID-19 pandemic, military conflicts, and economic recession, significantly affect the labor market and professional competencies necessary for navigation in altering conditions. Specialists who obtain a wide spectrum of competencies and meet work and life needs can turn those challenges into new opportunities.

Professional career management in the modern world is affected by the accelerating growth of difficulties related to the exponential development and distribution of digital technologies and their convergence with biotechnologies, nanotechnologies, robotics, etc. Socio-ecological and educational initiatives that practically match the scale of the occurring technological changes do not exist. Increasing disruption exists between the complications of social–technical environments and the human methods (including practices of thinking and management tools) used for understanding and managing those environments. Essentially, individual consciousness (manager’s or worker’s) is no longer capable and realizes the complexity of existing social–technical systems. Two responding tendencies are emerging: the first is the idea that complexity management can be delegated to technical systems (such as self-learning systems for processing “big data”) controlled by humans. The second is the assumption that knowledge can be simplified for people’s purposes [1]. Both of these, especially the attitude toward cognitive simplification, are a significant risk. “Requisite Variety” management systems must be more complicated than managed ones, not the other way around [2]. Otherwise, chaos (entropy) will eventually increase in the system. It is necessary to be ready to accept the increasing complexity, learn the “strategical uncertainty” of the complex world, and develop new ways of forming a new understanding of the world. It is necessary to develop new models and learning methods, including practices of constructing common knowledge at personal, local, national, and global levels.

Mismatch between employees’ competencies, the terms of global megatrends, and the digital economy remains one of the main problems in the world labor market. Mass education of the industrial age did not prepare graduates for a professional career in the complex world; it did not improve thinking. In contrast, it decreased their creative potential and cooperation capability. To improve the effectiveness of professional career management, a new education system is necessary, capable of providing graduates with new competencies matching the changed demands of the modern society model based on the collective wisdom and general pragmatics of life [3].

Companies’ transcendence toward technology and its innovation has diverted individuals’ concentration, aims, and motivation to reshape their career goals while developing new skills in the required areas defined and governed by technological advancements. The skills now required to furnish new areas as job opportunities do not need all of the possible skills defined under its description. As asserted in [4], the roles defined in the new jobs created by technological advancements are executed in numerous ways that regularly refurnish the skills of individuals according to the roles defined under a specific job. Traditional jobs focus on marketing their executions using digital and social channels. Digitalization empowers an individual to develop the relevant skills required for a particular job. It also reshapes careers in different new directions to refurbish the individuals’ skillsets. Due to digitalized technologies, traditional jobs require a small human workforce with numerous opportunities for on-demand and part-time workers.

Professional career management highlights information regarding target industries for employees who aim to develop short-term and long-term goals and objectives for their careers. It is heavily associated with the career development of individuals [5]. The professional career management process involves four main aspects: reality check, self-assessment, goals, and a required action plan. Self-assessment allows employees to collect information that provides the structure for analyzing their motivations, execution plan structure, capabilities, and interests [6]. The employee must perform a reality check of the company’s plan with their career-defining plan. It matches employee analysis with the plans designed by target companies. After a reality check, goals are set accordingly, guiding employees toward a compatible career plan for sustainable growth. The employee then executes the career plan according to their desired actions. Successful career management is pursued by the regular revision of development plans carried out through the employee’s engagement in career development plans with the constant upgrading of their skills [4]. Career charts are developed to provide general guidance on the types of jobs specific to the requirements set by the employee.

Career management requires people to constantly learn about the increasing use of developed technologies in numerous industries. To maintain high employment rates, employees must establish competitive competence in newly developed technological skills. People’s career plans are interlinked with career management, which assesses their weaknesses and strengths in pursuing their career goals [7]. Digitalization has recently peaked at an unprecedented magnitude, revolutionizing numerous industries and companies’ processes with the introduction of intelligent technologies. The digital economy is a primary revenue factor in most of the world’s corporate sectors. Work and employee transitions have shifted considerably, abolishing traditional work organization and structure. As the digitalization process is new, it is under the critical scrutiny of business analysts and researchers who have provided significant findings on the impact of digitalization and technology on companies and corporate industries.

People have developed a rapid approach to deciding their careers in the digitalized market using a professional career management process that defines career-related goals and executes planning to fulfill the goals’ requirements. Professional career management pertains to considering and assessing salary goals, skill set requirements, job descriptions, and the action plan or map needed to execute the set goals. The analysis of the career management aspects allows an individual to critically examine their existing skills and the skills required by industries, keeping in mind the advancements and changes occurring in industries regarding technology, culture, organizational structure, and behavior. Professional career management is assumed to be a powerful processing tool used by employees to investigate their strengths in achieving their defined career goals. It also evaluates their interests, values, expectations, capabilities, and other dynamic abilities [8].

The digital economy profoundly impacts the professional career management of people pursuing their aims of obtaining their desired jobs in the job market. The impact of digitalization on the economy of Asian countries is commendable due to the recent transitions in e-commerce and related digital industries. Digitalization has provided instant recovery for Asian countries in the post-pandemic period, with advancements in the digital economy, smartphone penetration in economic activities, and the continuous support of government and corporate organizations in the advancements of the digitalization process [9]. Digitalization in Asian countries is already making its mark on the global digital economy. For instance, Malaysia and the Philippines are leading the race in the global digital sector of e-commerce retail [10]. The digital economy is a harbinger of fortunes for Asian countries, including India, Pakistan, Bangladesh, the Philippines, and Malaysia, which associate online labor with developed countries. Therefore, the job market perspectives are bright for developing and managing professional careers.

The policies of Asian countries in the field of professional career management, including those related to regulating the unemployment rate and stimulating personnel growth in commercial organizations and public service, cannot fail to consider the serious changes in society and the economic system that have occurred recently, which are due to a sharp increase in scientific and technological progress caused by the development of information technologies, the global Internet, and social and corporate networks. Additionally, these are influenced by the emergence of completely new digital innovations based on new scientific approaches and advanced technical capabilities for collecting, storing, and processing arrays of data and secondary information of various volumes and structures.

The currently occurring technological changes significantly impact the problems of the formation and management of a professional career. Simultaneously, assessing the significant changes caused by the increased influence of technological innovations on the process of managing a professional career and the transformation of the management subjects themselves, it is necessary to discuss the conditionally evolutionary nature of this socio-economic phenomenon. This involves the passage of certain stages of its internal development.

COVID-19 has accelerated the economic–social digital transformation. The globalimpact of the pandemic on work has highlighted the importance of digital skills for almost everyone, including workers, learners, teachers, and trainers. These processes will require widening and upgrading the digital skills pool in society;improving access to digital infrastructure and connectivity; developing digital solutions, platforms, and resources; and supporting social adaptation to this dynamic technological advancement.

Figure 1 presents the possible evolutionary stages of the influence of information technologies and innovations on the formation and development of a professional career and briefly describes them.

The conditional nature of the proposed stages of the evolutionary process affecting the management of a professional career is determined for several reasons:

The active influence of globalization as a catalyst for developing a professional career at the international level implies the possibility for migrants to obtain new professional skills and knowledge (for example, international internships for students of various levels and specialties). They may also find an optimal job that would satisfy the needs of the individual themselves as a subject of career management. Special attention is given to the experience of multinational companies and international trade networks as a subject of managing their employees’ careers in different national economies regarding the differentiation in legal regulation, cultural differences, etc. Additionally, to a certain extent, globalization also affects the state policies of individual countries in terms of human resource management and increasing national intellectual capital [11].

The accelerated development of scientific and technological progress and the informatization of all socio-economic processes, without exception, has led to significant changes in educational activities. It provides the possibility of obtaining professional experience and career advancement within a separate enterprise or region of residence and contributes to the expanding practice of migration flows to form and develop a professional career without moving to a new country where the direct employer is located.

Each evolutionary stage’s achievements are subsequently preserved and transformed, considering new technological capabilities and the consumers’ requests. For example, the search for and selection of information for making managerial decisions regarding the choice of a professional career or improving career growth based on information technology and the Internet have not changed from a functional perspective. However, it is possible to discuss significant technological changes in the implementation of this process: increasing the level of convenience and freedom of access to information resources designed to search for vacancies for a possible or desired job and information about the chosen profession or career in a particular organization. Additionally, it is possible to discuss the steady growth of the information sources themselves posted on the global Internet in general and on social networks as alternative options for finding the necessary information for the formation and development of a professional career under modern conditions.

The state plays an active part in resolving the issues of the informatization of the national economy and digital support of socio-economic processes, the purpose of which is to solve strategic tasks of sustainable development and compliance with national interests at the global level. An important role in the development of a modern professional career was played by the second and third stages of evolution, which created conditions for future changes in the career management process based on digital technologies and innovations. According to the author, the fourth and fifth (modern) stages of evolution are the most important, affecting their influence on professional career management (Figure 1).

The emergence and development of e-business have created fundamentally new conditions for forming and developing a career at every management level. Over the past two decades, e-commerce has been playing an increasing role in various industry markets. As a result, it has changed the structure of the national economy and transformed the labor market itself, contributing to the emergence of several new professions and activities, thereby creating conditions for the reorganization of traditional approaches to the distribution of working time and the use of labor resources.

2. Literature Review

This research will consider the previous work conducted in the past related to professional career management, which has affected the digital economy in south Asian countries. Several studies conducted in South Asia have discussed the impact of employee retention and work design. They considered employees’ satisfaction with job preservation [8]; the influence of employee performance on job design [12], employee income, and preservation processes [10]; and employee satisfaction with their job design [13]. The relationship between employees and the work design provided by the company is proof of the development of nations. However, project career management in the digital economy of Asian countries has been understudied—there is a gap in the understanding of the relationship between employees’ job preservation and work design.

Developing a new career has challenged organizations’ career management and individuals. Therefore, maintaining the relationship between organizational career management and individuals has become a hot topic for researchers. As clarified in [14] and [15], organizational career management is still present, but as time changes, the situation has also changed. Organizations are unwilling or incompetent to provide job security to their employees [15]. In today’s employee environment, an employee seeks independence and flexibility, which are most important for professional development, and a managerial career can be seen as irrelevant. Many organizations have different attitudes and manners toward the career management program. In China, many state-owned organizations’ initiatives continue to accept traditional career management programs for their employees. These developing organizations, for example, private companies and new ventures, are mostly focused on the young as they know that they grow the organization’s economy more. However, they are relatively weak in terms of career management. Though they face new situations, occupational mobility preferences may be involved in the career management concept. All organizations face the same problem of how to manage a career and how to consider both organizational and individual career management.

According to [16], the career management planning of any organization should be incorporated with its employee career design planning. They further stated that representative development patterns of career development and management are between the modern and traditional development patterns, and an updated, balanced, and dynamic system is needed for managing careers, which should be considered for both organizations and individual career management. According to the person–organization fit theory [17], persons can individually encounter their aims early in their career. They presented a dynamic relationship between employee skills acquisition, self-assessment, career choice, and person–organization fit. In the career development process, the employees must continue to re-examine their goals and skills through practicing and taking feedback from the organization. If the feedback from the organization is positive and in favor of the employees, they will have strong motivation to be in the career of their choice and will remain to obtain the proper skills.

However, negative feedback will also help employees change their career goals and skills. As claimed in [18], every employee would adjust to different styles of action concerning the person–organization fit. Every employee and their action styles differ interms ofdetermination, constancy, agility, and perseverance toward the fit. However, overall, employees’ action styles are comparatively stable, and employees will select to use acomparatively stable method of communication with the organization.

In today’s modern world, career management requires people to constantly learn about the increasing use of developed technologies in numerous industries. To maintain high employment rates, employees must establish competitive competence in newly developed technological skills. The organizational career refers to the processes, assistance, and programs that the company or organization provides to support its employees and their career success. After COVID-19, the unemployment rate became high, and the risk of the digital economy was a factor that affected most. First, machines and robots replaced many employees. Second, new businesses came into the market to replace the old ones, which was a cause of unemployment risk, and third, industries were transformed and upgraded. This program necessitates establishing employee security for some groups: college students, graduates, masters, workers who have difficulties in employment, workers re-employed because of work overloading, retired army officers and experts, young students, disabled people, retired government and any sports persons, and so on. The importance of new college graduates is specified, as they play a significant role in the economy of any country.

The National Bureau of Statistics of China [19] states that college students and new graduates are enormous in quantity. In 2014, the number of graduate students in China exceeded 7 million; in 2017, it increased to 7.95 million. The Ministry of Education (MOE) states that fresh graduates and college students are recognized as competition in the employment industry. The lack of opportunities, authenticity, time limitations, and individual limits are exerting average to high-level pressure [20]. It can be observed that proper career guidance will help college students and fresh graduates to fulfill their goals and achieve excellent employment and career success for themselves, China’s economic development, and their social stability. China is continuously working on a professional career management program, as it plays a significant role in economic development.

Furthermore, Mainland China is improving its college and university student entrance exams to provide high amounts of career counseling services to their students; mainly, they are guiding how students can choose academic subjects in the university according to their interest and market trends [21]. In this program, at the end of the student’s first year, they must choose exams of their own choice, which may include the set of Chinese, Mathematics, English, Geography, Politics, Biology, Programming, etc. After that, students must apply to a university based on their test results. In this way, many universities and colleges are counseling their students to enter the market, which will help grow the country’s economy.

In late 2019, the globe’s population wasaffected by a virus disease called COVID-19. Many ASEAN countries, namely Malaysia, Singapore, and Thailand, adopted numerous approaches to break the expansion of this virus worldwide. For example, quarantine policies were essential, requiring affected and unaffected people to be socially isolated in their homes to control the spread and maintain social distance in public and private places, while tourism and international travel were banned and restricted, respectively, to minimize the risk of spread.

Social media mainly focused on the COVID-19 epidemic and its effects on work environments (paid short breaks, short-time work, working from home, flexible hours work, and financial outcomes) for workers who belong to any organization and work in systematic engagement relationships. However, there have not been enough studies on and discussions of workers’ jobs and experiences in a flexible environment. Those who had not worked were officially laid off. They needed no sick leave or renewed agreement with services. This depends upon the status of countries, and the presence of individuals is not secured by the unemployment and other financial programs the country offers.

China engaged in worldwide lockdown, separate isolation, and national and international tour tracking. Practically everybody contributed to managing the isolation process and maintaining health profiles. Additionally, thegovernment permitted individuals to have more individual preferences. Worldwide, countries that followed the practice discussed the impact of career management practices, self-confidence, and self-development.

In this new era, career management requires people to constantly learn about the increasing use of developed technologies in numerous industries. To maintain high employment rates, employees must establish competitive competence in newly developed technological skills. Organizational career refers to the processes, assistance, and programs that the company or organization provides to support its employees and their career success. In today’s employee environment, an employee seeks independence and flexibility, which are most important for professional development, and a managerial career can be seen as irrelevant. Many organizations have different attitudes and manners toward career management programs. In China, many state-owned organizations’ initiatives continue to accept traditional career management programs for their employees. These developing organizations, for example, private companies and new projects, are mostly focused on the young, as they know that they grow the organization’s economy more. However, they are relatively weak in terms of career management.

3. Materials and Methods

3.1. Research Approach

This study focuses on professional career management in the digital economy of Asian countries; for this purpose, a qualitative approach was followed, as the concept behind it was to incorporate non-numeric data for searching through and interpreting the research findings [22]. For this purpose, the researchers used secondary analysis for the literature review, as it helps in providing sufficient evidence to address the objectives of the study [22]. This research deals with natural phenomena by deduction through qualitative findings.

3.2. Study Area Selection Process

The study area selection process was focused on geographical relevance restricted to Asian countries, for which online databases were used for extracting the information. The study area was limited to delineating the impacts of global megatrends, COVID-19, and the digital economy on professional career management transformation. In the context of Asian countries, the study was conducted in China given the fact that China has been the center of such megatrends. For instance, China was also at the center of COVID-19. Additionally, China has also emerged as one of the leading technological economies, with its rapid digitalization and technological advancements. Hence, China appears to be an appropriate geographic location in the Asian region to conduct this study.

3.3. Search Strategy

For searching the relevant data, the search strategy was based on using keywords and Boolean operators while searching through authentic databases to obtain the relevant information.

• Keywords: Terms or keywords that were used during the search of the desired topic area: “Digital Economy,” “Megatrends,” “Career management,” “Professional Career Management,” and “Asian Countries,”“global megatrends,” “COVID-19,” “demographic changes,” “urbanization,” “technical progress,” “professional competencies,” “digitalization of economy,” and “sustainable development”;
• These terms were used both individually and in combination, with the use of “AND,” “OR” to search the most pertinent literature;
• Databases: Different databases were used during the search process for relevant data. For example, databases used for the literature review included Google Scholar, Elton B. Stephens CO (EBSCO) Host, PubMed, and Springer.

3.4. Data Extraction and Selection Criteria

The literature probing was conducted by retrieving the relevant information from scholarly databases and gray sources (blogs, news press, and websites). For data abstraction, the Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines for systematic reviews were followed [23]. The proposed selection criteria that defined the exclusion and inclusion criteria for retrieving the most relevant information are presented in

Table 1. Inclusion–exclusion criteria (authors’ compilation).

Inclusion Criteria	Exclusion Criteria
Peer-reviewed journals from pre-determined scholarly databases	Data from unauthentic websites, blogs, and news-press
Language of publication to be set as English only	Data published in any language other than English
Time of publication no less than five years old (2018–2022)	Reviews or articles published before 2018
Information directly addresses the objectives of this research	Information that is not addressing the objectives of the study

.

3.5. Data Collection

The Preferred Reporting Items for Systematic Reviews and Meta-Analyses (PRISMA) guidelines were adopted for data collection. Data were collected as per the inclusion and exclusion criteria guidelines, and initially, N = 150 searches (this included scholarly articles, and initially, grey literature) were retrieved. After that, primary screening was performed, and in the primary screening, duplicate results were removed, and N = 70 articles were passed down to secondary screening. Then, further articles were excluded on the basis of the titles/abstracts, language, and timeline, resulting in N = 25 articles. Finally, exclusion was conducted based on the quality check, and it resulted inN =13 articles for literature discussion. Figure 2 shows the PRISMA framework.

3.6. Data Analysis

The collected data were analyzed using thematic analysis. Thematic analysis is the standard and most common data analysis technique used in qualitative research, where the collected data are grouped into common themes and patterns [24]. This helps to accomplish the research objectives through easy interpretation while allowing the researcher to feasibly assess a large volume of comprehensive data. Hence, the data collected for this study were analyzed through thematic analysis.

4. Results and Discussion

4.1. Megatrendsand COVID-19

Since the COVID-19 pandemic began, a large amount ofdata about its economic and social consequences has been collected. However, a large number of those consequences are difficult to distinguish from the current background megatrends. Megatrends, global by nature, are massive movements lasting for decades and deeply affect social, economic, and political areas. They are defined by long-term economic, social, and political forces that are not affected by short-term external influences and are not expected to be radically changed by the pandemic. However, since COVID-19 is turning into a constant healthcare management problem, instead of a crisis, a clearer picture of whether the pandemic boosted or weakened the dynamics of those megatrends and of the directions where those megatrends can lead us in the future.

We have systematically presented eight megatrends according to their influence on and consequences for global development (Figure 3).

Social protests are ongoing and are expected to continue because the factors causing social disturbance are increasing. In turn, they grow companies’ intentions toward real change and cooperation as an answer to civil society movements and equality movements, including the true diversity, equality, and inclusiveness programs providing equal opportunities for contribution and growth. Following future careers becoming more and more project careers, project skills will become important, helping professionals make their ideas real and overcome difficult problems. The global economy will need 25 million new project specialists up to 2030. Specialists with project management skills and broad global sight of macrotendencies will grow inside the “project economy”, in which organizations provide value based on successful project completion, production delivery, and agreement with value flows. There is a necessity for changes, so people and organizations must sharpen their skills in contributing to changes. In a rapidly changing environment, they must rely on solid instruments to cultivate new work methods and lead their teams forward.

4.2. Digital Economy of Asian Countries and Sustainable Economic Development

The notion of a digital economy represents an advanced economic stage following agricultural and industrial economies. The digital economy is made efficient by effectively using digital knowledge and information as a major factor of production, advanced technologies as a major driving force, and digitalized information networks as an important carrier to enhance efficiency. Integrating digital technology into the economy focuses on reconstructing the economy with increased digitalization and networking [25]. Asian countries are increasingly embracing digital technologies [26]. In the context of Asian countries, it has been found that East Asian countries have been making prominent progress in fostering digital innovation. China has been at the forefront of such progress, with its open innovation policies and R&D [27].

There are several prospects through the creation of the digital economy to support and facilitate economic development. The digital economy can optimize a country’s industrial structure and increase and improve job opportunities using information and communications technologies (ICT), the Internet, and other intelligent means. These approaches improve and support the economic development of countries [28]. New technologies in the digital economy present great promise, as they are associated with the creation of new avenues as well as opportunities to shape a more prosperous future for a country and its people. However, it is recommended that, to realize the real promises of smart technologies, countries’ policies and regulations must also be smarter.

Nevertheless, uneven participation in emerging opportunities is witnessed across economies for several reasons [29], including persistent inequalities in income, disparities, social discontent, and political unrest. This reasoning is particularly true for developing economies. Therefore, the world economic forum has defined the digital economy as the broad range of economic activities that use digitized information to support production and drive the productivity growth of the country or region under consideration. Based on this definition, the digital economy of the Asian region encompasses a range of parallel development; however, the level of commitment of each nation in the region under discussion varies significantly. Similarly, the economic output of the digital economy of China is very different from that observed in the other nations of the Asian region.

Simultaneously, the idea that the digital economy is truly an indicator and an engine of economic growth cannot be denied. Global trends play a significant role in understanding the role of the digital economy in the Asian region, despite the prevalence of increased labor costs and slowdowns in the trade exports in the Asian region, which have diminished economic growth [30]. For a long time, manufacturing innovation in the Asian region has been the driver of global economic growth. However, the increasing growth in the digital economy has doubled the growth rate in Asian economies, consisting of several nations; however, the research focus has been on the emerging economy of China. China was the first country where e-commerce surpassed traditional retail transactions and volumes compared with the developed economies of the UK and Indonesia. The government of China has been increasingly and actively encouraging digital innovation and entrepreneurship while providing sufficient room for companies to experiment and support economic growth through the promotion of a healthy digital economy [31].

In the context of Asia, China is at the forefront of this trend producing the digital economy [26]. China has become more digitized than many observers appreciate, along with being the highest investor in digital technologies globally. The country leapfrogged into the digital economy with great strides in two key areas; the first is e-commerce. China has introduced e-commerce throughout its society [32]. About a decade ago, China only accounted for less than one percent of the world’s e-commerce market; however, at present, its share accounts for forty-two percent of the world’s e-commerce market, which is higher than that of the USA, at only twenty-four percent only [33]. China has also emerged as the first country to outperform conventional retail transactions and volume in e-commerce. Approximately 52.1 percent of China’s retail sales come from e-commerce. The second area is China’s technological solutions, which are tuned for financial inclusion. Twenty years ago, no one thought about a “cashless society.” China has completely skipped credit card generation and moved from a cash society to a cashless society. Today, 90% of the urban population and 82% of rural people use digital payments, and the gap is closing rapidly. According to the People’s Bank of China, more than 74 billion USD in microloans were issued in 2020 through various FinTech solutions for financing small- and medium-sized enterprises [32]. With China’s emergence as a digital economy, the country has been paving the way for sustainable economic development.

The digital economy in Asia is expected to grow further, providing opportunities to bolster economic growth, build businesses, create jobs, and address socio-economic challenges. To estimate the macroeconomic benefits of the increased usage of digital technology, a scenario that leads to a 20% increase from the baseline by 2025 was analyzed (Figure 4). This scenario represents the digital transformation during the coronavirus disease (COVID-19) outbreak, as evident from the shift to working from home, online education, telehealth, e-commerce, and reliance on digital media. Digital transformation is implemented by increasing investment in the digital sector, which contributes to the higher output of sectors that use digital inputs more intensively and raise the economy’s overall productivity. Overall, the size of the global digital sector is expected to increase by an average of roughly617 billion USD annually from baseline levels, or 3.1 trillion USD from 2021 to 2025, while the digital sector in Asia is modeled to rise by about 184 billion USD annually from the baseline to about 919 billion USD in 5 years (Figure 4). The calculations were based on the Global Trade Analysis Project (GTAP) database. Asia refers to Asia and the Pacific, and, in this case, it includes economies that are not members of the Asian Development Bank (ADB) due to the aggregation of the Pacific subregion in the GTAP. Numbers may not be precise sums because of rounding.

Research has supported the notion that digitalization contributes tosustainable and inclusive economic development. It has been associated with increasingcompetitiveness and productivity of organizations and enhancing the financial inclusivity of the same. Digitalization in the south Asian region has supported foreign investment and inflows while facilitating stronger regional and global integration, all of which support economic growth [34]. A projection of Asian economies reveals that the digital transformation in these developing nations will boost macroeconomic performance by ensuring economy-wide efficiency gains and higher productivity overall. In a five-year projection of 2021–2025, the annual average of the impact of digitalization change indicates that gross domestic product (GDP), employment, and trade are expected to grow more in Asian regions than anywhere in the world [35]. The digital economy in Asian nations is supported due to the need to revamp traditional processes along with the continuous support of governmental policies, technological innovations, and the high capacity of digital entrepreneurship, leading to economic development. However, the impact of digitization across all economies is not uniform. The digitization process has varied impacts on both developed and developing economies; for instance, the impact of economic growth is greater on developed economies than on developing countries [36]. Nevertheless, as a whole, it can be stated with certainty that digitization accelerates economic growth, as well as job creation [37]. This is stated on the basis of the fact that it represents a 193 billion USD boost to the world’s economic output and has created around 6 million jobs worldwide, as per 2011 statistics [38].

Thus, it can be stated that digitalization in Asian countries plays an essential role in raising the productive capacities of economies. Digital transformation in these regions is supported as a product of trade enhancement, organizational competitiveness, and financial inclusion, along with the creation of a digitally sound infrastructure that includes the widespread availability of internet connectivity and improved educational and financial digitalization, which result in the maximization of economic benefits [30].

4.3. Professional Career Management in the Digital Economy of China

Digital technologies have been increasingly integrated into delivering personal career guidance to people, being considered desirable or even indispensable in developing the digital economy [39]. In practical terms, technological advances have created new business models, especially digital work platforms. The various career opportunities offered on these platforms provide decent job opportunities for people when properly regulated [40]. Subsequently, the digitization of employment services has enabled the use of big data; improved the placement of employment services, personalized employment services, and career paths; and provided a more accurate analysis of the labor market. In many countries, with digitalization, public employment services have developed systems that collect large amounts of data, collect data on job seekers, and link the databases on job seekers with the registered vacancies, training and wages, benefits, and compensation.

Asian countries are also transforming their career management practices and employment services with digitalization. In this regard, China embarked on a major overhaul of its labor administration system and employment services after publishing its Guiding Opinions on Promoting All-Round Public Employment Services in 2018. Among other things, it improved the provision and coordination of businesses and services with urban, rural, and labor market participants. Furthermore, technology has made it possible to create integrated systems for employment services, including online and mobile services delivered over various channels and devices, as well as information systems that provide face-to-face physical services. Additionally, digital systems, such as facial recognition technology, QR (quick response) codes, and data analytics software, have been increasingly incorporated to replace conventional career management programs, such as career fairs [41].

The use of labor market information (LMI) has also emerged as imperative in the digital economy for an effective career development process, which is particularly relevant to the amount of generally available information enhanced by digital technology [42]. However, the quality of the available information can vary. In this regard, resources must be selected using clear criteria, and consultants should be hired with specialized knowledge and skills. Advanced digital technology and systems can change the way work information is disseminated, improve the flow of work news around the world, create a new international workforce, and organize workers outside the workplace via the Internet. It provides access to new career opportunities that would not have been available without the Internet [43]. In this regard, the example of China’s Twin Networks Management System (TNMS) is noteworthy. TMMS is an integrated management system for monitoring, integrating, and tracking data collected by national labor inspectors. The data entail all of the information about the eight indicators and are consolidated with the information obtained via other sectors, such as social security, national statistics, facility registration, and vocational training [41].

It is asserted that, although digital technologies, particularly social media, have provided career development practitioners with the opportunity to serve an individual with opportunities over the platforms, they can only achieve this when they are equipped with digital knowledge [44]. Thus, digitally enabled literacy is important for paving the way for effective career management in the digital economy [45]. Educational interventions used to enhance professional learning have been used in various situations, including providing classroom, community, and work-based activities. All of these contexts have been used by experts in digital economies to integrate digital technology into individuals’ learning. As a result, educators must rethink pedagogy to tailor educational practices to economic and technological advancement in order to prepare individuals for potential career paths [46]. Career development practitioners are increasingly transforming all of the ways in which individuals engage with career-related learning to ensure the relevance of the individuals’ education and learning to the emerging digital economy [47].

In this regard, China has invested heavily in integrating digital technologies into its literacy. For example, the 10-year Education and IT Development Program (2011–2020) was developed by the Ministry of Education of China, highlighting the essential role of digital technology in education. Additionally, China’s traditional kindergarten-to-high-school education system faces the progressive penetration of digital technology into the curriculum [48]. In short, more attention is being paid to the impact of new technologies on education and learning to change how students engage with learning [49].

In the digital economy, the role of social media has transcended beyond merely discovering and exploring information and connections; rather, it has become an important platform for providing career opportunities to individuals [39]. It is worth noting that China has the highest approval rate for social networking platforms, at 21 percent, with relatively low usage of commercial internet-based career boards (15 percent). Digital technology also helped career management practitioners provide career guidance and training via online video, chats, and other online communication tools that support free calling and chatting. For instance, public employment services incorporate digital technology to facilitate remote interaction between advisors and individuals through an “official WeChat account.” Additionally, technology has been integrated to promote the employment of workers in key sectors through various web-based matching systems and digital communication tools, such as video conferences and more. Moreover, dedicated web portals have been created to fill vacancies with extra workers and employers. Dedicated websites have also been set up to help employers retain or find workers [41].

Consensus on the digital economy provides a new impetus for sustainable economic development. Research regarding China suggests that the country’s digital economic development is positively impacting urban economic growth. In contrast, a heterogeneity of effects has been witnessed between different cities. In China, urban employment is the effect mechanism of digital economic growth on urban economic growth. Therefore, the impact of digital economic development on urban economic growth is positive in China.

4.4. Sustainable Career Management Process

In the current times, training and development programs, labor market situations, and employment trajectories have all changed dramatically. Since the 1980s, academics have noticed a broad sense and enduring deterioration of the contractual agreement between teams and organizations, which recruit individuals. Many employees fear job protection and the prospect of career progression within their businesses due to firms embracing both shrinking and recruiting from outside for executive positions. Organizations’ career development strategies have weakened, discarding the pointers that once drove individuals toward strategic career opportunities. Reduced clarity on what constitutes career success and the strategies one should pursue is coupled with decreased standardization of career paths and structurally guided career progression. Employees are not just changing jobs and employers, but also managing more career moves across sectors and vocations as the quantity and complexity of career transfers have grown [50]. As a result, the career and livelihood stability of some people with diplomas and considerable professional experience has declined.

The happenstance theory is based on the idea that people may influence their destiny to a certain degree, especially since various personal characteristics predispose people to similar luck-readiness. Planfulness and goal orientation are among them, as are curiosity (proactively exploring new educational possibilities), persistence, flexibility, optimism, and willingness to embrace risks. Connectivity, budget planning, and work–life balance include some basic behavioral qualities recognized as vital by happenstance theory. Professionals who possess these attributes can be ideally positioned to grasp possibilities that cross them unexpectedly and to generate and capitalize on random events, turning serendipity or coincidence into professional prospects. The happenstance theory’s revolutionary approaches to conceptualizing cognitive processing, emotional, and psychomotor evolution within the strategy implementation framework and adaptability have implications for analyzing contemporary career behavior and perspectives [51]. The various personal characteristics described as possibly beneficial in sustaining professions in the dynamic future of employment provide a solid framework for investigating the actions of individuals earning in such periods of extraordinary volatility.

Work has held a significant psychological function in people’s lives, as it can fulfill their personal needs while also serving as a bridge between the individual and society, promoting sustainability and development. Therefore the term “sustainability” was widely used in the 20th century; it is associated not only with conservation and stability, but also in the context of technological developments, resource use, and institutional changes to bring about harmony and improve the quality of living [52]. Businesses use their career development programs as a unique solution to solve the difficulties of employee engagement, training, and commitment under the sustainability approach. Both the psychology of sustainability and sustainable development emphasize creating a meaningful and sustainable career/life construction across different environments to create a sense of belongingness among people and communities [53]. Based on conceptualization, sustainable career development is a multidimensional concept that involves and facilitates the dynamic interactions of individuals with their environment. Therefore career counseling is considered a catalytic role in fostering sustainable career development and paving the way to create interventions that help to select the right career choice. Therefore organizations also handle the linear job-related problems by assisting employees in developing their careers to increase their job satisfaction.

The pandemic significantly changed the way study is performed worldwide and impacted economic development. Similarly, in career counseling, sustainable career development has introduced innovative frameworks that empower individuals to use personal resources and strengthen their careers and lives by effectively managing professional and personal development and growth [52]. Businesses use their career development programs as a unique solution to solve the difficulties of employee engagement, training, and commitment under the sustainability approach. Organizations can handle this problem by assisting employees in developing their careers and increasing their job satisfaction. According to [54], an organization is more likely to attract, engage, and inspire individuals if it supports its employees’ career development by creating a conducive career development culture and senior leadership career development engagement. The research findings imply that a mindset of career development, including top leadership engagement for professional progression, contributes to employee career advancement. The digital economy is considered a new form of economic development to the concepts of an industrial economy and agricultural economy, which have profoundly impacted the current employment structure. China has had an accelerating impact on the digital transformation progress, which in turn has influenced the employment situation in the country. In China, the digital economy has reconstructed the employment model in the country. Secondly, the digital economy has also facilitated flexible employment in China by incorporating four significant changes. These include a shift from marginal supplements to important components, from small fields to a diversified one, from lower levels to higher levels of employment, and from a passive choice of employment to a more active one in terms of participation [25]. In China, the digital economy is aimed at further advancement as the government focuses on investing an additional 3.8 trillion USD in sectors including artificial intelligence and big data, which have become significant drivers of job creation. The Chinese economy is in the middle of a long-term restructuring and witnessing a decline in the low-end industries while the higher-value industries are experiencing uplift, particularly in the fields including drones and robotics. The Chinese digital economy is expected to rise by 18 percent, amounting to 3.8 trillion USD, equal to a third of the country’s overall gross domestic product [55]. The country is further creating inroads to advance in areas including big data, the Internet of Things, AI, and cloud computing to create more jobs to support and facilitate professional career development.

The development of innovative technologies and new opportunities in the latest generation’s information space and communication networks follows the fifth stage of evolution in Figure 1. It encourages various management entities to transition from less cost-effective, outdated career management systems to more progressive ones based on the possibility of using remote technologies.

Special attention should also be paid to the fact that remote technologies at this stage are applicable at all stages of the management process associated with forming and developing a professional career. Educational distance-learning technologies, which have been actively developed in the last decade and are now widely in demand due to the new challenges and threats of the post-pandemic economy, are playing an increasingly important role in career management.

Distance-learning technologies have been used for a long time. They have several proven advantages:

• A possible reduction in the total cost of training due to the reduction of several costs ofthe educational process. For example, the absence of mandatory transportation costs for the organization of various types of practice, reduction of costs for material and technical equipment, operation of fixed assets, etc. Simultaneously, this aspect does not lose its relevance under the current conditions. In contrast, it requires the formation of additional methods for assessing the impact of the level of use of distance technologies on the composition and cost structure of the educational process as a critical stage of professional career management. Simultaneously, another problem arises—how high quality the educational process can be when using distance learning at various levels, and what the satisfaction of students and their attitude to using such technologies;
• The possibility of forming adaptive and flexible forms of the educational process schedule. It would aim, largely, not at fulfilling the complexity of the educational process by the approved working curriculum, but at the implementation of project activities and individual achievements of students, which they can consider as an additional advantage in the labor market;
• The possibility of providing mass access to remote technologies for certain categories of citizens, organizations, and public authorities. However, not every user of distance-learning technologies can effectively manage the available opportunities in terms of the individual organization of the educational process, the process of self-training, and interaction with teachers and potential employers;
• The high speed of receiving and subsequent information processing should be mentioned as a positive aspect of remote technologies. Here, the technological systems themselves are of great importance, which are the basis for ensuring the functioning of such online platforms. Simultaneously, we can discuss economic or technical aspects and the need to ensure national security or preserve trade secrets, depending on professional career management.
• Another advantage of distance learning is the continuity of the educational process and the possibility of resumption at any time by storing information in the virtual space of the global Internet. Here, the level of accessibility and adaptability to obtain professional knowledge in a particular field increase. However, the requirements for the user, who should be able to learn in this format, are increasing;
• Ease of use can also be an advantage of remote technologies. Simultaneously, this indicator of the positive aspects of remote technologies is closely related to the interface of a certain training system, which may be suitable for a specific user. However, the growth of competition in this market contributes to improving the quality of the educational content itself and the content of the courses of disciplines, which makes it possible for the user–learner to have a wide choice, including from the viewpoint of linking to the issues of career choice and career growth;
• Improving the productivity of the educational process can also be attributed to the advantages of modern innovations in this area only if all elements of the educational system function effectively. For example, the user is supposedly a student interested in obtaining new or upgrading existing professional competencies. Teaching staff should be capable of implementing remote technologies and the information system itself, legal regulation should regulate the educational process at the national level, etc.;
• Finally, the development of distance technologies contributes to improving the efficiency of business communications in the learning process and improving the skills of inter-communication interactions in realtime.

As seen from the above list, the main advantages of distance learning technologies are a reduction in the cost of training and the flexibility of the schedule, which in no way affect the improvement of the quality of educational services; therefore, there is a need to transform the classical distance-learning system. The differences between the classical distance-learning system and the modern system of distance-learning technologies are presented in

Table 2. Key distinctive features of classical and modern distance-learning systems (author’s compilation).

Classical Distance-Learning Systems	Modern Distance-Learning Systems
1. Minimum contact training (video lectures)	1. Webinars have replaced video lectures
2. Rigorous interdisciplinary communications	2. Broadcasting information using various techniques: Comparative; Encouraging; No alternative; Reasoned
3. Orientation to the “cheapening” of the educational process	3. The absence of rigid interdisciplinary connections and the possibility of choosing an individual educational trajectory
4. Lack of “input” testing	4. Depending on the set of selected disciplines, the digital university offers an optimal educational trajectory, leading to the full development of OOP
5. Success of mastering will be defined as the minimum required proportion of correct answers	5. Focus on improving the quality of the educational process
	6. Availability of input testing
	7. The final form of control (by discipline/course), which measures the proportion of the “correctness” of the answer, determines the number of correct answers to “key” questions; measures and considers which methods of broadcasting information master topics/courses; not-mastered topics/courses offer the option to study using alternative, successful methods

.

Some other megatrends that help achieve sustainability through digitalization are discussed below. Digital platforms appear to serve as the primary mechanism that organizes a vast set of human activities, including economic, political, and socio-cultural interactions, contributing to the professional career management of people (Figure 5).

These trends include the rise of the gig economy and local, on-demand employment opportunities. These digital platforms have enabled companies to radically reduce traditional firms’ market share, resulting in the rise of informal entrepreneurial career choices. Moreover, by combining data and algorithms, individuals know how to address market failures and inefficiencies, further strengthening professional career management opportunities [56]. Additionally, as economies undergo digitalization, the evolution provides opportunities for people to benefit from its scope through alternatives available in the form of the e-commerce industry 4.0, algorithmic economy, sharing and gig economy, and other information services. All these trends support professional career management in Asia as well as in the Pacific region, where the process of digitalization is still at a booming stage.

Figure 5. Three dimensions of digital transactions [57].

Figure 5. Three dimensions of digital transactions [57].

Proper comprehension of growing career complications and management requires demographic considerations. Companies have new problems in developing more long-term, viable occupations that engage individuals appropriately throughout their lives. As family factors have evolved to become more diverse, the number of dual-earner and single-parent families has increased. Consequently, many individuals’ non-work demands have risen as their tension for a work–life balance has increased [50]. The development of information technology has had several effects on jobs. First, using technological equipment reduces the barriers to employment and personal life, resulting in a persistent engagement in employment and stress-related disorders. Full-time work connections not only produce job stress, but also make it difficult to strike a work–life balance. The need for professions that require manual work is declining with the rise in the digital economy and technologically equipped skills and knowledge. By 2025, less than 15% of employment roles will be designated for the low-skilled (Figure 6).

All this emphasizes the need to continuously reskill and upskill the workforce, especially when digital disruption is rising in Asian regions. However, there are six critical areas where digital skills can be developed to remain relevant [57]. These can help to plan a route to achieving expertise in digital skills as the future of professional career management. The figure below illustrates these six critical areas of skill development for sustainable career development.

However, jobs demanding digital and high-level capabilities will be on the rise. Artificial intelligence (AI) and machine learning are among the top-demanded skills in today’s workforce. Eighty-five million jobs have a chance to be replaced by automation by 2025, while ninety-seven million new roles may emerge by being more adapted to the new division of labor across humans, machines, and algorithms [58]. This effectively means that everyone, including C-Suite leadership and mid-level and senior professionals, will need to become fluent in AI innovations and ML products. Professionals who understand and implement AI and ML technologies are better equipped to deliver customized experiences and innovative products in an organization. This makes sense due to the customer functions through Cortana, Siri, and Alexa, which are AI for a customer, live in action [58]. The rapid advancement of new technologies is frequently cited as one of the primary factors contributing to rising economic disparities.

Furthermore, technological progress impacts the labor market, causing the devaluation and revaluation of skills and creating new technical opportunities and employment [59]. Finally, the dynamic and volatile commercial climate is affecting employment circumstances. Businesses adapt their operating approaches to remain strong and adaptable in the foreign labor market. Organizational delay is a concept of little concern for employer-driven career management programs. Their greater focus is on short-term financial results, the usage of offshoring to states with lower labor costs, and the externalization of employees into temporary positions. The latter results in fewer opportunities for frequent horizontal agility, enhanced employment opportunities at all stages, and enhanced external mobility [60]. All these changes in the socio-economic and technological environment have contributed to the rise of new occupations, including self-employment, one-person businesses, and freelancing. Moreover, various non-traditional work schedules in today’s enterprises, including teleworking, part-time, fixed, or contractual employment, have arisen.

Furthermore, due to the rising use of online sites and digital platforms in this digital era and as an impact of COVID-19 on all services, there has been a rise in non-traditional work settings and people pursuing this non-traditional work as their career [61]. This has produced the gig economy and the sharing economy. Therefore, it can be seen that the digital economy has been evolving due to global megatrends, such as COVID-19, as people have become more accustomed to using online platforms. This has ultimately transformed the professional career landscape as the job market has become more diverse with such non-traditional careers. Figure 7 delineates how these non-traditional careers are organized in the digital economy.

5. Conclusions

The rise in the gig economy, employment structure, retention strategies, and the accelerating talent gap due to digital disruptions in Asian countries have forced people to reskill and upskill their talent to survive and thrive in the rapidly changing working landscape. Hence, maintaining the relationship between organizational career management and individuals is a new debate in the Asian market. Summing up the above, we can discuss the significant influence of information technology and innovation on the process of managing a professional career at this stage. Among the most significant aspects, the following should be mentioned:

• The expansion of possible sources of information and the convenience of searching at various stages for the formation and development of a professional career contribute to improving the efficiency of a particular management entity—from an individual to federal government authorities;
• The active development of virtual business and e-commerce has formed new principles and approaches to modern career management. They are based on a high degree of adaptability of career management’s subjects to the changes in the internal and external environments. Additionally, their ability to diversify and develop new professional competencies, and variability concerning the use of various information technologies and software products, help implement specific personal or group skills and abilities;
• Remote technologies are used as an auxiliary tool for the subsequent accelerated development of a professional career. However, they are gaining a fundamentally new role in the basic skills and abilities that any career management entity must possess for successful functioning in the labor market or implementing a policy concerning labor resources within an organization or enterprise, and from the standpoint of authorities.

Employees can use self-assessment to gain information that helps them to analyze their motivations, execution plan design, capabilities, and preferences. The individuals must compare the company’s vision and strategy to their career-defining strategy. It is about comparing employee data with the strategies devised by target firms. Goals are developed per the reality check, directing individuals toward a suitable career path for long-term progress. According to the International Monetary Fund, Asian countries are progressively adopting digital technologies. The development of the digital economy is particularly prevalent in the Southeast Asian region compared with other Asian countries. The Southeast Asian region is estimated to earn 150 billion USD annually from the digital business economy. Particularly in countries including India, Pakistan, Bangladesh, the Philippines, and Malaysia, the job market perspectives are bright, implying that professional careers are developing and being managed. In the new age, the usage of labor market information (LMI) has also developed as critical for an efficient career development strategy, which is especially pertinent given the amount of publicly accessible content increased by digital technology. In addition to the Southeast Asian region, theEast Asian region has also been making prominent progress in fostering digital innovations in its member countries, while China has been at the forefront of such progress. China has been characterized by prominent digitalization trends that have been producing the digital economy. This made China an appealing area for conducting this study.

Furthermore, the data quality provided fluctuates. While technological advances andsocial media in particular have given career development experts the ability to connect people with possibilities across networks, it is said that they may do so if these people have digital skills. As a result, digitally empowered learning is critical for efficient career planning in the digital economy. Educational interventions to improve professional learning have been implemented in various settings, including the classroom, the community, and the workplace. Experts in digital economies have exploited all of these scenarios to combine digital technology with personalized development.

Consequently, instructors must evaluate pedagogy to match educational approaches to the economy’s technical advancements in order to prepare students for future professional routes. Furthermore, in the digital age, social media’s role has evolved beyond just accessing and analyzing information and relationships; it has evolved into an essential tool for providing people with professional prospects. Therefore, professional career management in the digital economy of Asian countries has brought new challenges for organizations’ career management and staff. Thus, maintaining the relationship between organizational career management and individuals is a new debate in the Asian market.

The criticality and contribution of this research are aimed at policymakers and future researchers to make effective use of digitalization, provided that Asian countries possess a highly skilled and young workforce which are tech-savvy and can strive to work toward gaining a competitive edge in terms of adaptation of megatrends to transform the changing professional landscape and improve the labor market prospects.

Despite such novel and valuable contributions and implications, this study is characterized by certain limitations. This study is limited, since it only focuses on a systematic review of the literature in the context of Asian countries, particularly China. In this regard, future researchers are suggested to consider other geographic regions in their investigation of career opportunities and management. Future researchers can also conduct a comparative analysis of various geographic regions and countries to determine how the global megatrends and digitalization have been shaping career opportunities and management across the countries and what best practices can be adopted from one another to improve their career opportunities and management.