Archive for Employees
As you know from this blog I highly encourage you to do contract work instead of being an employee. There are so many benefits including higher pay, more deductions (via your corporation), variety of projects, more freedom and so on. As you can see from the huge number of layoffs during this recession there really is no job security anymore. If your company has work then you will stay employed. I’ve spent the last little while teaching students guitar and practicing my own things while I look for the next contract. There is no stress because I am making some money on the side teaching and I’ve saved money for the inevitable ‘rainy day’ which always comes.
Companies’ attitude towards contracting goes in cycles. Sometimes they want lots of contractors, then they return to wanting employees. Right now with all the layoffs, companies are actually more interested in hiring contractors because they have work but they don’t want to commit to long-term employees at this point.
So get out there and find those contracts!
No one knows for sure at this point, but these types of events are why I’ve been advocating that you take control of your career. With the latest ‘Bear Stearns’ debacle it shows you are not even necessarily safe and secure at a huge investment bank. That’s why it always pays to keep your network alive and to never be caught off-guard by these types of events. Things you can do in good times and in bad are:
- live within your means
- have a nest egg saved for these types of events
- build a network of people in your industry
The first company I worked for got bought out and I was laid off a few months later. The next company had some rough patches and at that point I vowed never to be ‘out of control’ again. I wanted to be in control of my career. This is all about being proactive rather than reactive.