When the Baby Boom generation entered the work force 40-50 years ago, corporate America was the go-to choice. It offered great entry level employment, opportunities for advancement, retirement plans, insurance, paid vacation, and most of all, job security. All these benefits kept employees secured, even if they didn’t find the job satisfaction they had hoped for.
As the Boomers move through retirement, there has been a sharp turn in the advantages of corporate employment. The perception of job security is no longer the same.
In a recent newsletter, Ron Elsdon, author of How to Build a Nontraditional Career Path, noted the following significant changes in corporate employment:
- Gross inequity in compensation with CEO’s of major corporations now earning several hundred times the average worker pay
- High unemployment for those at early career stages, and significant challenges finding conventional employment for those at late career stages
- Reduced long-term benefits in conventional employment – for example, only 30% of US Fortune 100 companies offered defined benefit pension plans to new salaried employees in mid-2012, down from 90% in 1998
The absence of job security is even more prevalent as we watch news reports of companies across the country downsizing. A case in point is the recent announcement by Hewlett-Packard that they plan to lay off up to 33,300 workers over the next three years.
We are now seeing a growing trend in the workforce of people choosing non-traditional careers. Economic indicators are pointing to a stronger economy. The availability of insurance through ObamaCare provides an option for health insurance. There is an increase in the formation of small, start-up companies and the self-employed. There may be more opportunities than ever for the rise of entrepreneurship, regardless of age.
Franchise businesses are also growing exponentially right now. For individuals who want to chart their own career path by owning a business with a built-in support system, a franchise may be an excellent choice. There are literally hundreds of different business options, for nearly every type of product or service imaginable, with a variety of opportunities to be your own boss. Most will provide the business plan, marketing plan, a network of owners willing to share proven ideas, and a support organization whose goal is to see you be successful.
If your corporate career is not meeting your expectations, maybe it’s time to take a closer look at franchising. With over 10 years of experience helping would-be entrepreneurs navigate through the many franchise companies, I can help you find the one that is best suited for your goals and interests. An initial conversation is a great place to start – and it’s free. Give me a call and I will help you determine if a franchise is on your career path.