Imagine if you were next on the redundancy list?

Qantas Redundancy 2014
Redundancy in 2014

Over the past few months, one of the most sensitive issues facing the Australian workforce has been Job Security.

Getting a regular income is something that we all perhaps can take for granted and the prospect of that income ceasing, due to any factor is very unsettling. Worse still, this is an increasingly common scenario in areas as diverse as fruit canning, manufacturing motor vehicles, Government and of course, Qantas.

While it is easy to pour criticism on the unions, management and boards of these organisations, the reality is people are being affected and households’ financial security, shattered.

So what has caused all of this?

Some of the reasons put forward, to explain the state of play for many Australian businesses include:

  • The strong Aussie dollar
  • High labour costs
  • Foreign ownership issues
  • Government involvement
  • Lack of Government involvement
  • Weak/poor corporate strategy and management
  • Trade Union practises
  • And more

Beyond the causes, are the effects, and that is where the pain really is for an increasing number of Aussie households.

What if you didn’t have a second source of income?

Sadly this is all too common, with the Job being either the main or only source of income for many people. Avoiding the wage trap is tricky, as that is the model most of us are conditioned to. Work hard at school, get a job, work hard and get paid. This model of course, assumes there is a job for you.

Enjoying a second income stream can provide a great deal of peace of mind and, most importantly additional security. There is plenty of information on our site about this – and the quote “dig the well before you need the water” has never been more appropriate. Meantime, where will the redundancy axe swing next.

Not on you we hope.

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