More than 12 million Americans are jobless and 40% of these individuals have been out of work for more than six months. Overall the U.S. economy may be improving but many Americans still cannot find a job. This trend will only continue in the foreseeable future says James Altucher, managing director of Formula Capital, an asset management firm. The author and venture capitalist tells The Daily Ticker’s Aaron Task that the U.S. is moving toward an “employee-less society.”
“If you’re just sitting still, shuffling paper, they’re going to fire you,” he argues. “Cubicles have become commodities. You’re like the walking dead if you have a job.”
According to Altucher, businesses used the 2008 financial crisis as an excuse to get rid of “dead wood” and the firing trend hasn’t stopped. Companies no longer show loyalty to employees. They're more interested in boosting profits and revenue – which means letting go of expensive staff employees (due to health care benefits, 401k contributions) and replacing them with cheaper temp employees. Altucher says this situation is happening in every sector of the economy and he should know – he sits on the board of a publicly traded temp hiring firm.
“If you’re stuck in a cubicle you have a target on your back…the CEO is looking to cut you out,” he declares. “Temp staffing is sweeping the nation.”
The volatile work climate has convinced Altucher that employees are better off quitting their jobs. He lists 10 reasons why workers should give their two-week notice:
- The Middle Class Is Dead
- You've Been Replaced
- Corporations Don't Like You
- Money Is Not Happiness
- Count Right Now How Many People Can Make A Major Decision That Can Ruin Your Life
- Is Your Job Satisfying Your Needs?
- Your Retirement Plan Is For Sh-t
- It's OK To Take Baby Steps
- Abundance Will Never Come From Your Job
Of course, packing up your cubicle and leaving a steady paycheck is a lot easier said than done. Even if an employee waits to be fired to collect unemployment benefits, the weekly sum will be much less than one’s current take home pay.
So Altucher offers a compromise: stay at your job but become an “entre-employee.” By this he means building connections and networking with employees in other divisions or even starting another business on the side.
“Look for alternative sources of income,” he advises. “Learn your employer’s connections and expand your services because you can’t relax anymore. You have to stay ahead of the economy.”
Altucher says the techniques he preaches work – he has applied them to his own career with success.
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