There’s a reality staring many 40-somethings in the face; the threat of fresher-faced graduates and youthful go-getters who appear more appealing and exciting to most employers today. Sound familiar? You may have found yourself at the receiving end of dramatic transformation strategies from industries who are desperate to evolve their own business landscapes, rendering the business landscape far different to how it was 20 years ago. The discomfort of organisations downsizing and belt-tightening, and evolving work environments may have even left you feeling unfulfilled, directionless and sometimes even simply left behind. Since 2008, the world of working independently has gathered pace, year on year. Economic instability meant that the traditional “job-for-life” was no more, and employees stepped out to take control over their futures, and the futures of their families. Although the self-employment trend is age-agnostic, the highest growth in those choosing to leave full-time careers has been the over-65s as well as the 16-35 year olds 2 . And while the thought of working for yourself is one borne out of excitement at being independent, for many it’s simply a question of necessity. For many individuals at a similar career crossroad and age as you find yourself now, they, for the most part, have led successful and rewarding careers. But change happens; companies downsize, industries change and personal needs to establish balance sometimes outweigh the complexities of a full-time job. And that’s when they face a career decision. And whether by choice, or necessity, these changes are fundamentally being driven by: • An increase in casualisation of working arrangements 3 : Forcing individuals who would otherwise prefer to be employees to become self- employed. (Necessity) • Personal Fulfilment: The need to take back control of their own destiny and career development. A desire to work for themselves only. (Choice) • Increased flexibility and financial reward: Establishing a stronger work-life balance without the need to remain accountable to an employer. (Choice) • A changing workforce / organisational structure: The business landscape is changing and whether a change is made as a result of a deterioration of skills or ability, a disinterest in organisational direction or a displaced position within a changing workforce, individuals feel the need to find alternatives. (Necessity) • A direct contribution back into the local economy: Renewed confidence brings about the desire to make a difference within the local community. (Choice) DRIVERS FOR CHANGE Doing anything new is daunting. And when it comes to pinning your future, and most likely the future of your entire family, on the line, the pressure on that decision weighs even more heavily on your shoulders. That’s why understanding the risks and rewards of making a career change is critical to turn trepidation into action, and action into profit. And that’s why we offer hope. Employee Benefits vs Personal Flexibility: Stepping away from full-time employment means you may be giving up the benefits often overlooked like sick pay, holiday pay, gym membership, discount offers, private medical aid and, for many, pension plans. But leaving that doesn’t spell loss. It simply means a shift in ownership and what some perceive as beneficial, others are happy to live without. There is little doubt that working independently usually brings personal flexibility. Quite often though, you end up working twice as hard and for longer hours than you did when you were employed full-time. However, holding onto the control reigns autonomously, for many, is reward that surpasses any employee perk. Lack of Skill vs Valued Skill: Making a career change from an employed one into a self- employed or independent one means that where once an organisation with functional responsibilities were your go-to for accounting, HR, legal and commercial processes, each of those responsibilities now falls onto you, the individual. You become accountant, marketer, sales person and strategist – all rolled into one role. For some, this is enough to curb the decision to make a change. For others, it’s a realisation that they possess a skill that is valuable to others – something many are willing to pay for. The peripheral operations, critical to any new starter, can be handled through experienced support networks and other service providers. RISKS (AND REWARDS) OF “GOING-IT-ALONE”