In the first part of this post we looked at Growth industries and the development of Regional economies – the two trends more closely aligned with the traditional full time employment with an organisation model.
In this part we look at the two trends which have more flexibility and independence than the traditional model but are therefore potentially more of a financial risk.
Casualisation of Workforce/ Short term contracts/ Freelance
This trend is one that has already been raising concerns due to the very real potential for a negative impact on the participation of minorities including women in the workforce. There is a very real risk of periods of both un and under employment when you are completely reliant on casual or short term work during a recession let alone if we do officially progress into a depression. This is because under employment is very much evident in susceptible demographics even when unemployment rates are low.
The flip side to this is that for businesses who are still in operation but have reduced the number of permanent staff to minimal business critical positions they can still have need for people to ensure their business can still operate. They may not be able to provide consistent ongoing work however they can still provide opportunities for casual, short term contract or freelance work depending on the type of business they operate and what works for their business model.
However for some they enjoy the flexibility provided contract or freelance work as they can work where and when it suits them on projects that they find interesting or inspiring.
A new platform created to connect business leaders with exceptional on-demand talent,
Werkling is on a mission to make the professional gig economy a little more human by increasing support for small/ home based businesses.
It almost appears counterintuitive to start or develop your own small business during an economic downturn, why take the risk in a difficult economy?
Currently there appears to be a societal shift away from big businesses with long supply lines and long delays, or located overseas which is where the majority of profit also goes.
Australians want to spend their hard earned income as locally as possible. The preference seems to be when given the choice we would prefer to #buylocal and #supportsmallbusiness
In a Defence Family context that translates to getting your hair cut or eyebrows done by a fellow ADF Partner, or buying a box of cupcakes to take to your work morning tea made by the ADF Partner down the street.
The Defence Community prefers to support their own members where they can; this will be made much easier with the introduction of the #Buyveteran campaign launched by Princes Trust Australia.
If you would like to explore the possibility of starting your own business or even just making a little money from an existing hobby whatever stage on your journey, Enterprise Online helps you figure out the life you want and, if appropriate, safely build a business to suit it.
https://www.princes-trust.org.au/defence-members-and-their-families/enterprise-program/
Like any other trend, these are just that, trends. They don’t take into account your particular circumstances or skill set. A professional career coach will be able to work with you to identify might be the best options for you. These services may be covered by PEAP.
Good Luck!
Nejula Blake
DFA Project Officer – Employment
The information contained in this post is general in nature and does not take into account your personal situation. You should consider whether the information is appropriate to your needs, and where appropriate, seek professional advice.