Following on from the previous episode ' I like Money' I needed to do this episode. We are in a cost of living crisis which I believe is a fancy way of saying 'recession'. Others would define it as...

'a situation where the cost of basic necessities and everyday expenses rises significantly, outpacing the income and financial resources of individuals or households. It means that the cost of essential goods and services, such as housing, food, healthcare, education, transportation, and utilities, is increasing at a faster rate than people's wages or income growth. This imbalance can result in financial hardship and economic instability for individuals and families, as they struggle to afford the basic necessities of life. A cost of living crisis can have wide-ranging impacts on society, including increased poverty rates, decreased standards of living, and heightened inequality. It often necessitates discussions and actions aimed at addressing the root causes of rising costs and finding ways to improve affordability and financial well-being for individuals and communities.'

In a cost of living crisis even more so you have to understand and know how to pivot including pivoting from contracting to perm as a temporary measure as a response if needed.

The above also leads me to discuss the collapse of Credit Suisse. In this episode, we delve into the recent collapse of Credit Suisse, one of the world's leading financial institutions, and explore the valuable lessons to be learned from the perspective of an employee. We examine the implications of such a collapse on job security and the significance of understanding company benefits in times of organisational turmoil.

We begin by providing an overview of the events leading up to the collapse of Credit Suisse, including the factors contributing to its downfall. From risky investments and mismanagement to regulatory issues and reputational damage.

Next, we shift our focus to the employee's viewpoint and discuss the implications of an organisational collapse on job security. We explore the challenges faced by employees when a company faces financial ruin, such as potential layoffs, salary cuts, and loss of benefits. We emphasize the importance of staying informed about one's employment contract, severance packages, and any legal protections available.

Furthermore, we analyse the concept of company benefits and their true meaning during times of crisis. We explain how employees can ensure a comprehensive understanding of their benefits, such as retirement plans, health insurance, stock options, and bonuses, and how to evaluate their value when an organization collapses. Additionally, we provide insights on diversifying investments and safeguarding personal finances to mitigate the impact of such unforeseen events.

Lastly, we explore how individuals can prepare themselves professionally and financially for such occurrences. We discuss the significance of maintaining a diverse skill set, staying updated with industry trends.

1. Signs a company are in trouble
2. How can employees protect themselves from job losses
3. Future Career Planning
4. Company benefits and what they actually mean and even more so when a company is bought or collapses.

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