Tag Archives: downsizing

DOWNSIZING AND BUYOUTS: WHAT SHOULD YOU DO?

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#downsizing #buyouts #JobLoss #SeparationIncentives
Your company has decided to downsize.
Perhaps it wants to eliminate a division(s) that it doesn’t see as part of the future.
It “generously” decides to offer some qualified employees a separation package, or buyout, to encourage them to leave.
Let’s say you are among those employees.
You want to keep working a few more years, but they have given you what you consider a generous offer. What should you do?
Most buyouts have certain things in common. First, what they are offering initially is probably the best you are going to get. There’s usually no negotiation for a sweeter package. More or less, it’s take it or leave it.
Secondly, you have to make this decision without all the information. You don’t really know, and no one will ever tell you, what YOUR future is if you stay.
There is usually a company option to reject certain employees’ applications for the buyout, but that rarely happens to an individual. If you thought you were indispensable, think again. If the company does not want a certain group of employees to take the buyout, it will not qualify them.
Thirdly, the decision rests on YOUR individual position in life. If you are financially able to take it, you may well be advised to do so. If you want to do something else, worry about that later.
If your job is eating you alive, or your boss is not treating you the way you believe you deserve to be treated, you may be advised to take it. Your life is not going to get any better, and could very well get worse, if you stay.
If you are not financially able to take it, you will probably have to suck it up and stay, and deal with what happens next.
Now, what if you could prepare for such an event ahead of time? What if you could spend a few part-time, off-work hours doing something that could potentially build your current and future wealth?
Though we are not talking about a second traditional job here, the concept involves a more pleasant form of work.
It turns out that there are many such vehicles out there for those who are willing to look for them. If you are open-minded enough to want to check out one of the best, message me.
Buyouts, downsizings etc. almost always come without warning. You walk into work one day, and an announcement is made.
If you could prepare ahead for it, you could walk away with a sweet deal and a smile.
If you don’t prepare for it, the decision can be much more difficult.
We used the term “generously” when we talked about such offers. Many workers simply get thrown out the door with nothing.
You can prepare for that, too. If you do, you could accept that situation with a smile, too.

Peter

FEAR OF RETIREMENT

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#retirement #FearOfRetirement #boredom #RetirementFinancing
Are you afraid of retirement?
Does the thought of not working anymore create anxiety?
Are you postponing retirement, even though you know you should retire, because of your fear?
There may be lots of reasons people fear retirement. The biggest, perhaps, is financial. Perhaps loss of a paycheck would crush you. Perhaps you haven’t saved enough, and your pension, if you are lucky enough to have one, plus Social Security may not be enough for you to live the way you want.
Another fear may be boredom. You may say things like, “what am I going to do with myself?” Perhaps you don’t have a hobby or hobbies to occupy your time. Perhaps you fear what you might become by just hanging out, day in and day out.
Retirement experts have advice on both counts. Most say that retirement without the financial backing would be difficult. One way to determine whether you have enough to retire on is to look at your savings. Without touching your principal, are the dividends, interest and capital gains those savings produce, combined with other income such as a pension or Social Security, be enough for you to live on?
When we talk about “living” in retirement, it should be more than just survival. You should be able to have the money to do things you like to do, perhaps things you never had time to do while you were working.
If you think about this while you are young, you can plan accordingly. If you are older, and are at or close to a reasonable retirement age, and believe you won’t be financially secure in retirement, you may as well keep working as long as your employer will keep you. Remember, though, that you could walk into work one day, and be shown the door.
Let’s examine the time factor. If you believe you’ll be bored in retirement, there are many activities available to occupy your time. There are countless volunteer opportunities, for example. Before you retire, find an activity that would interest you. There should be no reason anyone has difficulty occupying his time.
There are some solutions that would both occupy your time and give you a potentially great income. To check out one of the best, message me.
In this day and age, retirement decisions are often made FOR people. Employers who reorganize, downsize or otherwise want older workers gone use many tactics to get people to leave. If they don’t leave voluntarily, the employer will find some reason to terminate them. Most employees don’t have recourse against the employer, and most older workers will have trouble finding new employment in their professional fields.
Older workers are supposed to be protected by labor laws, but creative employers will find ways to force them out.
The lesson in all this is that one should prepare for retirement as soon as he starts his career. Unlike decades ago, when job security was more prevalent, there is no real job security in any field today. A worker is one reorganization, or one bad manager, away from a dead career.
If you can work until you want to leave on your terms, you are among the very fortunate. More than likely, your retirement decision will be made for you.
If you are at a good retirement age and fear retirement, you may be wise – especially if you see things in your workplace that seem stacked against you – to retire as soon as you are able. Know that it won’t be hard to find things to occupy your time. In fact, you’ll probably find it amazing that you had time to work.
Peter

HOW ABOUT ANYONE DOING ANY JOB?

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More men are expected to be attracted to “women’s jobs” in the coming years.
However, the reverse is not proving to be a trend.
That’s according to research by Jed Kolko, economist at the job-search site Indeed. His study was quoted in an article by Ana Swanson in the Washington Post. It was also published in the April 23, 2017, edition of The Atlanta Journal-Constitution.
Kolko concludes that less-educated men may especially face challenges in the job market of the future, the article says.
“In recent decades, fields that are dominated by men and by women have not fared equally. Many men have fallen out of work as increased mechanization has allowed the U.S. to produce more agricultural and manufacturing goods than ever, with fewer people than before,” the article says.
“Jobs that are dominated by women are projected to grow nearly twice as fast as jobs that are dominated by men,” the article quotes the Kolko study, based on figures from the Bureau of Labor Statistics.
“Fast-growing ‘male’ jobs that require lots of education don’t really help men without a college degree who have been in traditionally ‘male’ jobs,” the article quotes Kolko.
We all have an idea what a “male” job – construction, manufacturing, mining, farming etc. –or a “female job” – nursing, administrative assistant, etc. –is. The article says that computer programming was once dominated by women, but is now heavily male.
It’s been reported many times that men fared worse in the Great Recession than women. The good jobs done largely by men went away more quickly than those done mostly by women.
Kolko points out that some “female” jobs, such as telephone operaters and textile workers, also have been automated out, according to the article.
The broader trend is away from manufacturing and more toward services, which could draw men into jobs traditionally dominated by women, the article says.
So let’s step back and examine this. Good jobs in general are disappearing quickly. Lots of folks, if they are lucky to find new jobs, generally are getting paid less than their previous jobs paid them. Many are not using the skills they were trained for. Those skills, largely, are being replaced by machines. There’s nothing a person can do to stop that!
But what a person CAN do is think about other ways to make money. There are many such vehicles out there for those willing to step out of what’s comfortable, and look at something different. To learn about one of the best such vehicles, message me.
The economy, the recession, downsizing – however you wish to think about it – is not something that will, or can, go away. So, if such circumstances hit you, don’t beat yourself up. Sure, those circumstances will hurt, but by further beating yourself, the pain will be worse.
Americans can be very resilient. Sometimes, tough circumstances require bold action. Sometimes, one has to think differently to better himself.
If you view yourself as a hard-working person, and most do, don’t expect someone to give you something. You may have to look for other opportunities, perhaps completely unrelated to what you’ve done before.
So whether you’ve been doing a “male” job, or a “female” job, and it has gone away, remember that someone you know, or may not yet know, may introduce you to something you may have never heard of. Listen. Don’t dismiss out of hand. You could be hearing about the light at the end of your tunnel.

Peter

GETTING OLDER? REIMAGINE YOUR LIFE

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When we look at Jane Pauley, we think she has had a good life.
After all, she was the co-host of the “ Today” show and “Dateline NBC.” But, at age 63, her life is not done.
Pauley has written a book titled, “Life Calling: Reimagining the Rest of Your Life.” Reporter Kerry Hannon discussed the book in a Feb. 5, 2014, article in USA Today.
The book encourages Baby Boomers to look at life anew as they move into their 50s and 60s. Pauley’s book takes a look at career paths others have taken in the belief that you will learn from their stories, Hannon writes.
We are living longer. We are getting older. But that doesn’t mean we should think about packing it in, heading to the rocking chair and await death.
Sure, some employers are downsizing. Some see older workers as expensive and less productive, despite their experience. Perhaps you’ve reached your 50s or 60s, and your employer has said goodbye to you.
But Pauley’s book looks at that as a second chance. “We’ve been given a second chance – to do the thing we’d always wanted to do, or never had a chance before to do, or never imagined we could. I think of these as ‘trying times,’ a time to try new things,” Hannon quotes from Pauley’s book.
So getting the boot from your employer could be the best thing that ever happened to you, if you choose to look at it that way. Perhaps the message was to pursue your dream, spend more time on a favorite hobby – perhaps even turn it into an income stream.
You see, it’s not about circumstances, because most circumstances are out of your control. But you have absolute control over how you respond to those circumstances.
Getting older is one such circumstance. You can’t do anything to stop it. You can’t relive what was, in your mind, the best time of your life. You need to train your mind to believe that the best years of your life are ahead.
So what’s ahead for you, if you have passed the half-century mark of life? Perhaps it is starting your own business. Perhaps it is going back to school. Perhaps it is enjoying your children and grandchildren.
Whatever you decide, do it with joy. Do it knowing that the past has passed, and the future is bright.
Of course, some of you may not know what you will do next. Don’t approach that with angst. Approach it with optimism. Keep looking for the opportunity to be inspired. There are lots of great opportunities out there. For one of the best, visit www.bign.com/pbilodeau. You’ll see a bunch of happy people of all ages pursuing their dreams.
Some people get bored in retirement. Others use retirement to pursue things they’ve always wanted to. Retirement is not a precursor to death. It can be an impetus for a new life.
Remember, too, that it may take time to find that new life. It took Pauley four years, Hannon writes. It’s been said that it’s not the success that matters. It’s the journey.
It also goes for younger people who find themselves at a crossroads – between jobs or downsized out. The modern world encourages constant invention and reinvention. You can accept circumstances as fate and die, or you can accept circumstances as another opportunity for reinvention.
As you get older, you can find a new you.
Peter