More People Working for Smaller Companies
Kodak recently announced that it would continue to layoff workers in Rochester as it nears its final phase of restructuring. The photography giant has been shedding its workforce for 23 years in Rochester as it tries to respond first to the threat from Japanese film maker Fuji, then to the digital revolution.
The “downsizing” of the 80s and 90s were bug companies had to layoff huge amounts of their workforce has spawned off many new small businesses. Rochester is a town that has several small businesses which resulted from former employees of the various large companies there.
Smallbusinesshub.com has a look at the Intuit Future of Small Business Report where it is predicted that the total number of small businesses will triple in the next 10 years.
Prior to the 1980’s, most people worked for a company for life and received retirement checks from their employer in retirement. From the 1980’s to today, most people work for a company for a “few years” and roll their 401k plans over. I suspect by 2017, most people will become more like free agent contractors who more often than not have a “client” than an “employer” and need to worry about their own retirement.
I have experienced this type of trend especially the last few years where I switched jobs just about once a year. One of my biggest fears came when I first started working at a large pharmaceutical company in New Jersey. I received a report with my estimated retirement date which scared me to death. I just could not imagine being in the same cubes for 40 years and then one day retiring with whatever variation of gold watch or cross pen that they would hand out…shudder.
Small Business Hub | Intuit Future of Small Business Report
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