By now, we’re all aware of the dreaded sequester — or group cuts to federal spending — that recently went into effect. According to The Washington Post, although the sequester was originally meant to serve as an incentive for the Joint Select Committee on Deficit Reduction to cut $1.1 trillion over the next decade, not enough action was taken before the sequester occurred. In addition, with the recent mass airline delay disaster, many people are actually finally beginning to see the startling effects of the sequester.
So, now many American workers are faced with less pay, reduced hours, or unemployment. So, how can sequester-affected professionals make up for all the lost hours and wages? Check out these suggestions.
Look into temporary employment
If you’re fortunate to still have a job but now have more time on your hands, look into temporary employment. A recent McKinsey Global Institute report indicated 58 percent of U.S. businesses plan on hiring more hourly workers in the future. This means you can still work your current job but have another gig on the side.
Tip: Use resources geared toward temporary, hourly, contracted, or project-based workers. This way, you’ll be able to find targeted opportunities that align with your current work situation.
Become a consultant
Oftentimes, people turn to consulting as an additional form of employment. No matter if you’re in the marketing field or a teacher, helping others through your expertise is a great way to make money. Think of yourself as a mentor; you’re using your wisdom and knowledge to boost the career of another.
Tip: Only consult when you’re a true expert in your industry. Thought leadership only happens when you’ve been in the field for years, can provide people with real examples and accomplishments, and have a knack for knowing what will work and what won’t. Consulting without this in your arsenal can steer someone in the wrong direction.
Sell your work online
Artist? Musician? Jeweler? There’s no better place to display your work than on a global scale, by way of our little friend, the Internet. Tons of sites exist to help you sell your work online. For instance, websites like Etsy serve as an e-commerce platform between buyer and seller. You’ll be able to display your work, while increasing the chances of compensation.
Tip: Have good photos of your work, always try to include new content, connect with other buyers and sellers, and don’t forget to promote your e-commerce site! The more people know, the more likely they will be to purchase a product.
Start a business
According to CNBC, more Americans have embraced entrepreneurship than in recent years. The answer as to why is pretty obvious: Being your own boss and aligning yourself with a cause you’re passionate about is fulfilling. In addition, you get to control the path you walk on, as opposed to an organization or entity that may change the way you work without a moments notice.
Tip: Don’t jump head first into entrepreneurship. Take some classes, do your research, write a business plan, and get some advisors who can lead you in the right direction. By doing so, you won’t be part of the generic stereotype of businesses that fail. You’ll succeed because you took the appropriate steps to get there.
In the end, the sequester has forced many people to look at alternative options for their careers. Just remember that there are solutions to this issue, such as looking at temporary employment, working on your online brand, joining professional associations, or starting your own business. When you begin to think outside the box instead of only looking at the problem, you’ll likely find the solution is right in front of you.
What do you think? What are some other ways to make up for lost sequester hours?