An increasing amount of companies are now choosing to manufacture and hire staff from overseas. In doing so they are happy to reduce their payroll expenses by more than 90%. However, this has a huge impact on the Australian job landscape and redundancy figures are on the increase. It also seems that the longer you are with a company, the larger target you may have on your head especially if your company benefits start to add up and cost employers money that they simply don’t have.
As a result of this highly competitive market, workplace loyalty is becoming a thing of the past. There is also an oversupply of people with degrees and little demand for their services. In addition, undergraduates are being left with tens of thousands of dollars in debt and a degree that they just can’t seem to get a job in! As the jobs become scarcer, the average salary is down as well as people are willing to work for less. Many employers are now cutting staff benefits in order to retain already slim profit margins.
Going forward, companies are now more likely to automate job roles and technology is improving daily with robots now being introduced into the workforce. Let’s face it, robots don’t have sick days, cost a few dollars an hour to run and they don’t talk back, complain and ask for holidays!
Working a full time job used to be the safe and secure option, however today putting all of your eggs in that basket may be the riskiest thing you can do!
This new landscape is therefore making a very scary and new world of business, particularly for the Gen Y generation.
Gen Y’s are already feeling the pinch with more and more choosing to live with their parents as they cant’ stretch to moving out.
Unfortunately, this landscape doesn’t looking like a phase that will pass quickly and many are advising that this is a new ‘depression’. However, the good news is that in times of struggle and uncertainty, new trends are established which create huge potential for entrepreneurs. Those who are well prepared can really thrive in these depressing times and in actual fact, there are millionaires being created than ever before – you just need to make sure you are one of them!
Before you go out and quit your job, (as let’s face it, a job can be a great way to pay for the essentials for the short term) it is key to begin to work on something on top of your job which can create freedom and earn a fortune.
So what is this type of a job? Well, a good start is something which cannot be outsourced to Asia or replaced by a machine is a great start!
Sales and even relationship based sales roles are actually a great option as you can often work on commissions which allow you to earn more than just a basic wage. From real estate, to trading, to selling on eBay, to network or affiliate marketing, through to becoming an infoprenuer, there are plenty of options, which can all work if you do!
The toughest part about starting a new venture is getting the capital and the time to start – particularly if you are already working full time. However, there are some great low cost startups these days and also a mine of information free online. Start by finding a product that you love and investigate which of those options fits you. Or if you have some special skills or know how, you may be able to market and sell it online If you have a great idea but no funds, look into of kick starter sites where you can find investors to help you get going!
As depressing as this article may first appear to be, it is actually an exciting time to be alive and an exciting time to be an entrepreneur! So, take off the blinkers, throw out the handbook society wrote for you, take risks, and go try everything you ever feared doing. It may just be the safest thing you do!
Dave Nelson
Dave Nelson is a successful entrepreneur, speaker and director who specialises in mentoring Gen Y’s to 6 figure salaries. He is the Author of “The New Era of Network Marketing” and a director of YOR Health. For more information, please see facebook.com/officialdavenelson or http://davenelson.tv/
