When you think back to the impression you’ve been given your whole life, you probably tie the word “job” to security. Always accepting the notion that the longer you stay somewhere, the better off you will be. Some of you reading this may even have upheld that notion and are now at a crossroads; you’ve severed ties with a longstanding employer and you’re well into your working years.
Whether you have experienced it already or perhaps indirectly, the presence of ageism in the workplace exists. Employers want talent and experience, but not too much experience.
Here are the disturbing figures:
People past the age of 45 that are looking for a new job can often wait as much as twice as long -or longer – to find a job versus younger age groups
There are often 3 people applying for every new job
Length of replacement jobs are often shorter than previously held
Peak incomes are declining (Payscale.com)
Peak income for men has dropped to 48
Peak income for women is now 39
Outsourcing has become an effective tool in cutting higher operational and managerial expenses.
What Can You Do?
In a situation where you’re faced with jumping back into the pool of employment candidacy, you can do one of the following:
Re-train or re-invent yourself (ie: go back to school, take a certification course, etc.) but this can often be difficult and costly.
Wait it out and continue the application and interview process hoping that something will come along that meets both the employer’s needs and yours. This could take in some cases up to- or more than – a year.
Start your own business or purchase a franchise.
The Perception:
Owning a business is often seen as risky, scary and ttime-consuming. But, so is job searching. What if you could be in control of your own destiny? What if you could provide yourself with long-term security? What if you could achieve a superior income stream as well as increased equity and wealth protection?
One of the most difficult things for many to understand is that it’s often virtually impossible to eliminate risk unless one also eliminates opportunity. For many approaching or passing the age of 45, the risk of business ownership may be less than the risk of job insecurity, declining lengths of employment, declining pay scales and other factors.
Owning a franchise actually causes the cost of business ownership to decrease in many cases. There’s often less risk associated, as well.
Consider the fact that you are ultimately using others’ trial and error to maximize your potential for success. The average total cost of entry level franchises purchased (those typically less than $250,000) have decreased almost 30% over the last 5-10 years. Additionally, many of the newer and more high- demand concepts available enable people to operate out of their homes and even provide products and or services across the country, which was unheard of decades ago.
Just something to consider.
Read about a very successful couple who followed their dreams and 20 years later it has paid off in a big way in our Women Winning With Franchising series.
Don’t forget to check out our latest Franchise of the Month. It just won the prestigious “Best Buy in Franchising” award by Franchise Times magazine.
Recreated with permission from Larry Carnell of BenetrendsFinancial