Less pay or no job. Which option should you go for? Neither of them seem very impressive. In this current climate, many people have found it very difficult to find a job that really suits them or that they enjoy doing – as a Sunday Times report found.
What is Down-Banding?
Down-Banding has been used for a while, but it has only just now become a popular way for employers to save money, while keeping their employees in post. This morning the BBC reported (Video Here) that employers say Down-Banding makes good business sense. They keep their staff, who they have already invested lots of money on from day one, starting with their induction and all the ongoing training that is provided. If employers just started making employees redundant, left, right and center, they would lose a lot of their investment. When the remaining staff then start looking for another job because they are unsure about their job security, the employer can suffer greatly, because they will then have to invest some more of their profits – if any – on new staff.
Down-Banding gives employers another option to keep their business going by giving their employees an option.
Are you at risk of Down-Banding? Have you received a letter or memo from your employer saying that Down-Banding will be introduced?
There are other options available
A very popular one for worried employees are to start their own business, working it part-time arround their full-time job. Many, many people already have an extra job, some with even 2 or 3, just to keep their head above water.
I was in a similar position. The company that I used to work for, informed us that a bigger company expressed an interest in buying us. That caused a massive amount of rumours and a lot of employees got very worried about their job security.
Just over two years ago, I decided that working long hours for, that little extra in my pay cheque at the end of the month wasn’t worth it. A fantastic opportunity came through my letterbox and I made an inquiry. Two men came to see me to explain what the opportunity is all about and left me with some information. I could see that this was a way of bringing in some extra cash, which I desperately needed due to diminishing overtime availability at work.
Kelly and I started our own little business a few days later on a part-time basis, and it is growing fast. We went from an extra £216 to £950 for a 4-week period using the proven system that we have been taught. At this stage I made the decision to quit my job completely and started working our business on a full-time basis. Within three months I managed to replace my full-time income.
I absolutely love working for myself, but not only that – I found a way that an average Joe can make in excess of £50 000 a year.
I now also help others how they can substantially increase their household income, working from home on a part- or full-time basis, working flexible hours around current commitments as well as meeting lots of like-minded people.
For Free Information, click: Earn An Extra Income, Working From Home.
Please let me know if you have been affected by Down-Banding by commenting below.
Have a fantastic day