I appreciate your view but I took OP's comment differently.
"Your job is not safe" in my view means you should treat work as if you are a mercenary. Treat every role as short term, go in do the job, get paid and always be looking for the next better thing, no emotional ties. Be prepared to cut them before they cut you.
I feel like it would actually drive salaries up as people move to higher paying roles and companies scramble to keep people that they would have otherwise expected to remain for years.
For context, I once worked at company A for 2 years then got a new job offer for 20% more than I currently made. I accepted the offer and then told my VP that I got a new job and the offer was 35% more. He matched the 35% so I stayed for another year and then got a new job for 25% more than that. A little after that, Company A started doing layoffs. If I had been loyal I would have likely been laid off, instead I left with a much higher salary because I was loyal only to the money.
Companies used to be loyal but no longer are, your job is not safe.
Perhaps we actually are on the same page in principal as I agree with all of your other suggestions "diversifying your options, building an emergency fund, have a fulfilling life outside work" just a different take on the original comment.
Better put, the relationship you have with your employer is a business relation ship. It's not personal. They are not your friends, nor your enemies. It's simply a convenient arrangement between the two of you for as long as that lasts. And it might become convenient for either side to change that arrangement at any point.
The more you earn, the higher the risk that at some point somebody decides that they want to spend less / smarter. So, your risk increases with your salary. That's fine because it enables you to mitigate such a scenario by having savings.
I've been part of a big layoff round once. It wasn't personal. That was just my employer rounding up a large group of people to cut some meaningful chunk out of their salary expenses. It wasn't the last round either. The company, Nokia, ultimately got out of the phone and map business (I was in the maps unit). The final head count reduction was in the tens of thousands. A lot of those have since had successful careers and the Nokia implosion spawned quite a few successful companies.
But getting layed off is a bit of a rough ride. You feel bitter, angry, insulted, etc. But on reflection I actually got a fair deal and honestly I needed the wake up call that job security is a big illusion. I was just coasting in my career and a bit too comfortable. The moment was perfect as I was still in my thirties. This stuff gets harder as you get older, less flexible, and more dependent on job security. I've been doing startups and freelance work ever since. Which means I'm my own boss now and I've learned a lot in the decade since that happened.
You can't have your cake and eat it too. There are plenty of other lower risk companies that have way lower chances of layoffs, but they don't pay as well. Working at a company that tasks risks and has a high rate of return also has a higher chance of making the wrong bet and needing to cut you. If you want a perfectly stable job go work in the government: you'll be practically unfirable.
- someone who was layed off from a FAANG corp. I was not done a disservice, I knew what I was getting into.
How is that better for the employee, though? All that's happened is that the employee took a substantial pay cut in exchange for having serious risk placed on them. Risk which is extremely tilted against them.
This is also ignoring the fact that most companies will dilute the hell out of your options, so even if the company does make it, odds are you'll just have broken even from working for a regular company.
We've all discussed other options and belly up would be the worst case scenario ... they're hoping that they can, at worst, get bought up by some conglomerate to ease the pain. The safe "thing" about it, though, is that for the most part, they can't do what they want to do at all without me. So, while I may not enjoy the circumstances, I do have job security until the job disappears.
It also seems the job wouldn't have existed without someone willing to take the risk? I myself weigh risk in my decisions frequently. I am full aware that a layoff (or firing) is possible every time I accept a job. I'm also fully aware of what my employers obligations are to me. I'm not sure I've ever felt that my employer 'owed' me more than that. Maybe my life would be better if I did?
Everything you wrote sounds good in theory but it's not what actually happened to me. My employers actions indicate that they'd rather me leave and have to hire a replacement, even though this will cause them months of trouble, than give me a chance at doing high value work.
If you feel like this, you shouldn’t take a job that can’t guarantee in writing that they will keep you for X number of years. If you took a calculated risk and took the job anyway, well that’s on you.
My strategy is to have "fuck you" money. Not millions, more like one year salary, and not that I ever say fuck you, but enough that my financial risk of leaving a job is zero. I don't leave very often but the lack of anxiety emboldens me to push my employer to do what I think is best for thecompany without fear of reprisal. Turns out, that is what people want usually.
Sometimes, not... We may not be aligned. I may not want to do that work any more. Then I politely consider alternatives. But I can take that risk because of the safety cushion.
It is not the "fuck you" you need... It is the "I am fucked" you need to defend against.
The point is that you don't take the risk. You have a job. You get a salary. This usually means that you have no risk and no upside. The idea here is that you have some upside, but still take no risk.
IDK if this works in practice, but the principle is that.
Quitting your existing job first increases the risk. What if you don't find another job? One month of meagre salary quickly turns into six months, then a year, and that becomes a lot of money. If you have a job that makes you miserable, it might even suggest that you do not have many prospects to choose from, which makes the risk even greater.
Like my sibling post, I can't imagine accepting a pay cut from a current employer unless I received something valuable in return. I'd accept either better benefits (401k matching, better health insurance or equivalent but at a reduced personal cost, something) or more paid time off. But if I was making strictly less than I did before, without receiving something I valued in return I'd be looking for a new job.
What happened to you happened to a friend of mine, and he refused to leave the job. Salaried to hourly. Then leave changed from sick leave being something you could take easily to requiring it to be dire circumstances and a doctor's note. This past year they changed their pension plan from X% per year of service to Y% (Y < X). Seriously, if a company is willing to cut one benefit, they'll find a way to cut the rest unless there's enough unrest (and even then, most seem to prefer going bankrupt and getting bought out).
This exactly. You sound very risk averse. If you're going to take a small pay cut to work 40 hours at Target paying 15$ an hour this is exactly what you should do. You're clearly being burnt out and that's likely reflecting in interviews and job searches. Just like with dating desperation isn't an attractive trait when an employer looks at you.
I feel like it would actually drive salaries up as people move to higher paying roles and companies scramble to keep people that they would have otherwise expected to remain for years.
For context, I once worked at company A for 2 years then got a new job offer for 20% more than I currently made. I accepted the offer and then told my VP that I got a new job and the offer was 35% more. He matched the 35% so I stayed for another year and then got a new job for 25% more than that. A little after that, Company A started doing layoffs. If I had been loyal I would have likely been laid off, instead I left with a much higher salary because I was loyal only to the money.
Companies used to be loyal but no longer are, your job is not safe.
Perhaps we actually are on the same page in principal as I agree with all of your other suggestions "diversifying your options, building an emergency fund, have a fulfilling life outside work" just a different take on the original comment.
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