Do you have a backup plan?

I have a friend of the woman, which for sixty. She worked in the same company just over ten years in the position of administrator and office manager. The company employs a hundred sales managers, who were very fond of her. She always saw to it that all fax messages reach the destination, and each employee is in no way needed to the workplace in the office.

In addition to their regular duties, it was almost like a mother to all staff: make sure that, if harvested in the bathrooms, if left in the refrigerator for spoiled food and decorated the whole floor, which is in works. She worked hard and never complained. She always smiled and was polite.

She liked to be “mom” to all those who worked for the company. She felt comfortable at work. No one else would have been able to cope with all its affairs. She did her job better than anyone else.

Once it is, as usual, I went to work. After she finished the morning routine business, it was invited to the boss’s office and informed that the company is no longer in need of her services. The Company has taken measures to reduce personnel in each department, and its position had to be sacrificed. Then she was asked to leave the building as soon as possible. However, it is also assured that they will do everything possible to find her place in the company.

She has financial obligations, and it still has not accumulated enough to retire. She still has to repay the loan and to save for a trip abroad, I had dreamed of since his youth. She wanted to save seed capital for starting a business selling books. And then all of a sudden have to revise their plans. The loss of work and approach retirement age forced her to give up a lot of what she wanted.

I’m sure you’ve heard many similar stories. In the five months before writing this article I have just read about massive reductions in many companies. The main reason for the decline, according to them – to maintain the competitiveness so that instead of raising prices. Companies create jobs abroad because of the lower labor costs in other countries compared to the local currency and sometimes because of specific skills and technical advantages. Some companies reduce staff when prices fall and they can no longer afford to keep as many employees. No organization – not even large, well-established company is not immune to the need for reductions in the current competitive environment.

In the past, most people believed that the company and the government – for which they worked – could guarantee them employment for life.Today, I think, more and more people are aware of what to expect from your company’s life-long employment, at least, unrealistic. You are not in the best position, if you are working on a daily basis for the benefit of another business, knowing that the end of his career many years of work does not guarantee you a well-being. So I think that now people are looking for ways to increase their savings to retirement to provide for themselves and to meet their needs.

I think more and more people recognize that the primary responsibility for the welfare of the person carries himself. People are beginning to understand that their boss or my own company is not required to, and often are not able to take care of them after work.

According to an article by John Roskama based on data from the Institute of Public Relations of self-employment and independent society in the coming years it is expected to increase self-employment. There are five reasons for such changes in society:

1. The Company will continue to develop knowledge-intensive sectors of activity and services.

2. In the future, will require a greater level of education for employment; at the same time, most highly skilled workers prefer to work for themselves.

3. Employees of the older age group are more likely to self-employment than young professionals. It says that as they get older, more and more people prefer to work for themselves.

4. People want more control and flexibility in work organization that can provide self-employment.

5. People are more likely to take responsibility for decisions that affect their lives and those of their families.

Besides, now more and more people are looking for opportunities expanded konrolya own financial assets.

The main idea of ​​this article is that we should not expect that after the completion of work the employer will help us pay our bills. There are alternatives. And as long as we are able, I think we should have a backup plan and consider any possibility of independent income, it is in our interest and in the interest of our families. Therefore, each of us is the question: do you have a backup plan?


Deals with Financial market for 15 years, now in risk management and Asset Trading.

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