Once upon a time, American corporations provided their workers with cradle-to-grave security. Generations of families worked for the same company their entire careers and retired with a steady pension. Remember those? Often, adult children worked side-by-side with their parents at the local plant or store. It was a way of life that has long since disappeared in most of the country.
As the economy and structure of corporations have changed over the last two decades, those days have become a fading memory.
Statistics from the U.S. Department of Labor show those born toward the end of the baby boom have held an average of 11.7 jobs between the ages of 18 to 48. Younger workers may end up having more than 15 jobs in their working life.
As companies continue to merge and downsize, the odds of you retiring from your current job are slim. So it’s important to prepare a Plan B and be ready to change careers when the time is right.
Here are some indications that your job may be in jeopardy:
Industry — Your company’s industry is going through a significant downturn. At one time craftsman made a good living as blacksmiths, but advances in technology and consumer tastes have essentially rendered the skill a novelty. Today, the printing, journalism and retail industries are going through tremendous change that is negatively impacting thousands of employees.
Workspace — Take a look around the office. Are there more empty desks at the end of each quarter? Is your company downsizing its facilities because it has fewer workers?
Attrition — Is your company leaving vacant positions unfilled and putting additional work on the employees it has left? Not only does that indicate tenuous job security, it lowers employee morale.
If it’s time for you to begin exploring your career options, consider the option of becoming a franchisee or a franchise consultant. We have all the resources you need to get started.
