Change is in the wind for financial services

With national jobs being outsourced left right and centre, Australian lenders have been following the footpaths of other industries over the past 3 years and have pursued this as an option amongst job cuts.


Even though the GFC occurred over 8 years ago, it seems that Australia's banking industry is still suffering from the aftermath. With national jobs being outsourced left right and centre, Australian lenders have been following the footpaths of other industries over the past 3 years and have pursued this as an option amongst job cuts. This is a scary trend and a bit shocking, especially in Australia where the financial climate is usually so stable, so honestly, it's not surprising that some people are feeling a bit overwhelmed, a bit afraid, and a bit insecure with their jobs.

In 2012, it was predicted by the Sydney Morning Herald that in the banking industry over 2000 jobs would be cut by the end of 2013, and even further expected 1 in every 25 banking related jobs to be lost. The Finance Sector Union (FSU) has said that within Australia, banks have one of the worst track records of the industries for offshoring. Since 2007, over 5000 local jobs have been outsourced alone; just under 700 jobs per annum. One bank alone (I won't name and shame) cut almost 500 in June of 2014, and you can read more about this in the Financial Review here.

So what should you do if you're scared?

It's perfectly acceptable to feel insecure within your job. Especially if you feel like you're just another dispensable cog in a well-oiled machine that contains millions of cogs. It's completely natural to feel scared, but what you have to realise is that there are options out there for you.

Maybe what is needed is a new direction… a new path in which you can be in control of your destiny and have as much job security as you want, because you are in charge of yourself. You control how much money you earn, how much you work, and therefore how much you get out of it. What you need is to invest in a franchise.

Being a franchisee gives you the association with a well-established brand, assistance with outlet design and equipment, initial management training, access to market research, support in securing financial assistance, access to financing packages, and access to established financial systems and checks that provide early warning signs to highlight trouble areas. It's honestly the dream job. You can be your own boss but within the structure of somebody else's business.

So give it a bit of thought; if you're feeling insecure and if you feel like working for a huge corporation is too risky, maybe this could be an exciting new path for you.

If you have any questions or queries about how to follow your destiny please feel free to shoot me an InMail and I'll be happy to get in contact and have a chat over the phone or a cup of coffee.

Posted in: Business tips

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