{"id":9655,"date":"2015-08-11T13:19:35","date_gmt":"2015-08-11T17:19:35","guid":{"rendered":"https:\/\/www2.franchisegator.com\/articles\/?p=9655"},"modified":"2022-08-04T17:07:04","modified_gmt":"2022-08-04T21:07:04","slug":"job-market-modern-day-slave-or-modern-day-slave-12277","status":"publish","type":"post","link":"https:\/\/www.franchisegator.com\/articles\/job-market-modern-day-slave-or-modern-day-slave-12277\/","title":{"rendered":"Today’s Job Market: The Modern Day Slave Trade"},"content":{"rendered":"

You\u2019ve probably heard this a thousand times: \u201cGo to school, get an education, find a job, show up on time, put in your 40 hours each week, and you\u2019ll secure a good retirement for yourself<\/em>\u201d. <\/p>\n

We were led to believe a myth – to expect 3%-5% annual wage increases, some form of job security from employers, a nice pension, and probably a few promotions and a title change or two along the way. But today\u2019s economy doesn\u2019t even come close; we have instead become modern day slaves.<\/p>\n

A Slave to the Paycheck<\/strong><\/h2>\n

Most professionals put in far more than 40 hours a week. Today, being \u2018salaried\u2019 simply means you don\u2019t get paid for overtime.  In our connected world, we\u2019re tethered to our phones \u2013 always an email or phone call away!  With the \u2018streamlining\u2019 of America these days, one position is now responsible for the output of 4 workers. While America has always been a leader in productivity, we\u2019re now taking that to the extreme next level. With children, a mortgage, and car payments, many workers cannot survive without a regular paycheck.  These employees dare not object to the added responsibility or that extra assignment which will cut into their already-dwindling family time and rest.<\/p>\n

Despite steady job growth, wage growth hasn\u2019t kept up the pace, remaining instead at historically low levels according to a research study conducted by CNN Money<\/a><\/em>. Fed Chair Janet Yellen cited stagnant wage growth as a sign of continued problems in the labor market. Fear currently drives employment, and unfortunately, employers use the ability to easily replace a worker to secure more productivity at historically lower rates of compensation.  According to Right Management, a Business Management Consultancy in Florida, the average manager or senior-level employee only retain their job for a mere 3.7 years.<\/p>\n

And yet, most readers will still wake up early every day, tackle a hideous commute to the office and repeat – day in, day out – hoping that one day they will have enough money in their nest egg to retire.<\/p>\n

Break Free and Become Your Own Master<\/strong><\/h2>\n

But it doesn\u2019t have to be like this. In fact, for many entrepreneurs, life is what they make of it. Yes, they have taken risks and most would say that they actually work longer hours. Yet if you ask most successful, self-employed professionals if they wanted to go back to \u2018employment\u2019, most would laugh at you and politely decline.<\/p>\n

Many entrepreneurs have hedged their risks by investing in a franchise business. The franchise model isn\u2019t for everyone, but in most cases it does provide today\u2019s entrepreneur a proven business model that can smooth out some rough entrepreneurial edges. For instance:<\/p>\n