IT Web recently reported that Absa tried to demote nearly 200 IT staff and prevent them from receiving bonuses or pay hikes. Last week, a union prevented them from following through with these plans.

The digital magazine also claims that it is in possession of a mail (sent in 2011) by Absa’s Africa CIO, Alpelsh Patel, in which Patel told the IT leadership team that the bottom 10% of the IT staff needs to be forced into a lower rank.

Crisis can lead to opportunity

Retrenchments are sometimes unavoidable. Even in countries such as South Africa (where we have advanced labour laws that go to great lengths to protect the rights of employees), there are still many people left without jobs due to struggling businesses who are grasping for a way to make ends meet and keep their businesses economically viable.

Entrepreneur Magazine interviewed Dion Chang, trend analyst and editor of The State We’re In: The 2010 Flux Trend Review. According to Chang, the most significant and dominant trend to emerge after the economic downturn is the rise of civil society – “it’s a movement that is giving rise to new opportunities for entrepreneurs,” said Chang.

While retrenchments have devastated many, there are also a large number of people who saw this as a golden opportunity to start their own business and stop working for a salary. It might seem scary and daunting – but there are many franchising opportunities that will make the transition smooth and easy.

One type of franchise opportunity that people from an IT background (such as those at Absa) could consider is digital marketing. WSI Internet Marketing is the #1 Internet and Technology Services Franchise in the World – there are already a few in South Africa and we are looking to expand into Africa.

We are currently accepting applications from motivated, entrepreneurial-minded individuals. One of the benefits of investing in this franchise is the fact that WSI is a Global Internet Marketing Giant, which will give you immediate credibility (and you’ll also receive comprehensive operational and marketing support).

Being retrenched doesn’t have to signal the end of your career – take the leap and invest in a franchising opportunity such as WSI today

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