I hate to see it...
I’m working with a large corporate client who is about to acquire 14 resort hotels from a major prestigious chain. My role is to work with the management and finance/accounting people through the purchase date in the Phoenix site.
The look of apprehension is everywhere. Rumors are flying. Morale is terrible. Everyone is fearful of losing their jobs.
Ever been there?
In my 20+ years of Corporate America, I’ve been in this exact situation many times. Virtually everyone I know who’s been working for a while in a large corporation has experienced it. Between mergers and acquisitions where jobs are lost, and “rightsizing” where jobs are lost, if you don’t have a revenue generating position, your job will always been in jeopardy.
Why?
If you are not generating income for the company, you are overhead. You do not contribute directly to the bottom line. In the minds of the management folks who decide how to reduce expenses, the rule is to keep overhead to a minimum. For example, the information provided by accounting may be useful, but it doesn’t create income. With automation and software systems that can create multiple reports, there isn’t a need for large staffs anymore. Are you in a revenue generating position?
Let’s not forget outsourcing. We live in a global economy where we can now have services done through outsourcing at a cheaper rate than doing it ourselves. Not just outsourcing here in the good old U.S. of A, but all over the world.
Why am I writing about this? In my experience, I’ve witnessed this situation for the past 2 decades, and it isn’t going to change.
If you are truly committed to financial success and happiness, you have to take control of your life. You cannot continue to be at the mercy of your boss or the senior management of your company. That's not to say that you shouldn't be loyal or hardworking to your employer. On the contrary, you should be an invaluable contributor. Just realize that in the Corporate world, job loss is a fact of life.
Begin now to make a commitment that you are going to take control of your life. Get excited about what your future can be. Don’t just let your life be at the mercy of others. Start a business. Take a class. Look for opportunities. Concentrate on doing your job as best you can, and adding to your skill sets at every opportunity. Continue to make yourself more valuable.
As my friend and mentor, T. Harv Eker of Peak Potentials Training teaches, “get into the corridor”. If you want to do something on your own, just get started. DO SOMETHING! Even if it’s part-time. Taking action is a huge step in the right direction.
As for the employees here at my client’s hotel, all I can do is empathize with them. They are all waiting to find out their fate in the next few days. I hope you never have to experience it. Decide for yourself that you won’t.
Namaste.
Jeff
P.S. Thanks to those of you who have written to me in the past few days. It's great to hear from you. I'd love to hear from all of you, whether we have met or not.
The look of apprehension is everywhere. Rumors are flying. Morale is terrible. Everyone is fearful of losing their jobs.
Ever been there?
In my 20+ years of Corporate America, I’ve been in this exact situation many times. Virtually everyone I know who’s been working for a while in a large corporation has experienced it. Between mergers and acquisitions where jobs are lost, and “rightsizing” where jobs are lost, if you don’t have a revenue generating position, your job will always been in jeopardy.
Why?
If you are not generating income for the company, you are overhead. You do not contribute directly to the bottom line. In the minds of the management folks who decide how to reduce expenses, the rule is to keep overhead to a minimum. For example, the information provided by accounting may be useful, but it doesn’t create income. With automation and software systems that can create multiple reports, there isn’t a need for large staffs anymore. Are you in a revenue generating position?
Let’s not forget outsourcing. We live in a global economy where we can now have services done through outsourcing at a cheaper rate than doing it ourselves. Not just outsourcing here in the good old U.S. of A, but all over the world.
Why am I writing about this? In my experience, I’ve witnessed this situation for the past 2 decades, and it isn’t going to change.
If you are truly committed to financial success and happiness, you have to take control of your life. You cannot continue to be at the mercy of your boss or the senior management of your company. That's not to say that you shouldn't be loyal or hardworking to your employer. On the contrary, you should be an invaluable contributor. Just realize that in the Corporate world, job loss is a fact of life.
Begin now to make a commitment that you are going to take control of your life. Get excited about what your future can be. Don’t just let your life be at the mercy of others. Start a business. Take a class. Look for opportunities. Concentrate on doing your job as best you can, and adding to your skill sets at every opportunity. Continue to make yourself more valuable.
As my friend and mentor, T. Harv Eker of Peak Potentials Training teaches, “get into the corridor”. If you want to do something on your own, just get started. DO SOMETHING! Even if it’s part-time. Taking action is a huge step in the right direction.
As for the employees here at my client’s hotel, all I can do is empathize with them. They are all waiting to find out their fate in the next few days. I hope you never have to experience it. Decide for yourself that you won’t.
Namaste.
Jeff
P.S. Thanks to those of you who have written to me in the past few days. It's great to hear from you. I'd love to hear from all of you, whether we have met or not.
posted by Jeff Fagin at 5:04 PM
4 Comments:
Jeff,
I was in this situation before. I used to work for an insurance company (not lafayette life)and this is what they did. They separated everybody into 2 groups. Then depending on what group you were in, you were instructed as to what room to go to. When you got there, after giving a big rah rah speech, they told you whether you still had a job or not. I was in the room of people they kept.
Jeff
Although my contribution to my company almost always adds to the bottom line, the insecurity of being an "employee" is frequently present.
Larry E.
My main clarification in the past few weeks is that one can still be an "employee" even when one is ostensibly an independent businessperson.
As a consultant selling my time for money, I have multiple bosses, which spreads my risk -- a plus. But it leaves me no closer to financial freedom than any corporate employee.
I am passionate about changing this.
I contribute in everyway I can to my companies bottom line. As an employee I think that it reinforces or fears. We need to separate ourselfs and make our own bottom line.
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