Crisis will bring about new era

COMPANIES are retrenching workers on a scale never seen before since the Great Depression.

COMPANIES are retrenching workers on a scale never seen before since the Great Depression.

I guess we are slowly moving into a new era of uncertainty and low trust.

Those who have been affected by retrenchments would surely approach life differently. Life in South Africa might continue like nothing has happened, but structural changes that are taking place in companies overseas will in the near future have an impact on how people view companies in the whole world, and this country is not going to be immune to this.

In the US where more people have been choosing to open their own businesses, we are likely to see an increase in this, even in this country.

Companies are faced with the situation where, going into this uncertain future, people will seek higher rewards for what they do and there will be strained relations because of the levels of mistrust.

I see more people, for the first time in years, taking care of their future. People will no longer leave human resource managers to decide how much they get during meltdowns or during retirements. People are going to determine their own destiny.

It is not doom and gloom as people want us to believe. The "crisis" is opening opportunities for would-be entrepreneurs.

Matela Mthwalo, Gauteng

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