Do you worry about getting sacked

MalMonroe

Sorry to say this but it's 'cheque' here and not 'check'. 

I never worried about getting a sack, no. I did my job to the best of my ability and continued studying for qualifications along the way. I had quite a few jobs, including when I lived overseas twice and was always considered to be conscientious and hard working. 

If there ever had been any problems I'd have expected any employer to follow proper procedures before any sacking took place. And in the UK, there are always procedures. Even if you've not been working at a place long, in spite of the said 'two year' ruling. 

Now I work for myself and my boss is great. Any sacking will, of course, be mutually agreed. 

MattMattMattUK

Sacked, no, I am owner and director of my own companies. I am however conscious of what the future could hold, the Covid shutdown brought that into sharp focus. As an owner of two small limited companies I got no useful help during the lockdowns, my PAYE is tiny and the majority of my income is in the form of dividend for which there was no support. I understand the reasons the government could not prop up dividend income but it still felt like a bit of a kick in the teeth considering the amounts of money they threw at CJRS and especially SEISS and the billions lost to fraudulent BBLs due to lack of proper checks. 

Luckily I was resilient enough, I cut back on expenditure as much as I could, I used personal savings to reduce what I needed to take from the business and I did what I could to maximise profit within the businesses in the short term. My main business is still significantly down on pre-Covid, a combination of huge chunks of what existed before not coming back and likely never coming back combined with losing around £340k of business with EU entities because of Brexit. 

I always make sure I have at least a year's costs in personal savings, spread across instant access and limited access, worst case scenario I have more than enough time to look for alternatives during the year whilst those got used up. Secondly I have never had any debt within the businesses apart from at one point in 2020 taking out a BBL, which was paid back before interest started to accrue, apart from that business operations are debt free and again, within the company as operating capital there is around ten months costs, I could take that money out as dividend, but it would seem a short sighted measure, especially in light of the likely ongoing economic turmoil we are going to experience. 

That being said, whilst I do not worry, I do keep future financial circumstances in mind, spending decisions, ongoing costs etc. are all factored in, I do not take on debt apart from my mortgage, I am debt averse and by nature quite cautious financially, that means I do not worry, but equally finances are not something I ignore either. 

JReacher1

Always good to have a slightly incompetent colleague who you can use as the “canary down the mine”. As long as he’s still there then I know my job is safe 😃

Brie

I have been sacked a few times and made redundant a few more.  Being sacked was annoying - usually because I could see it happening and could do nothing to prevent it.  Redundancy was easier as I always took it as an opportunity to do something different with some cash to back me up.  

Savvy_Sue

Roadtonowhere100121 said:

Do you worry about being sacked? I mean I live pay check to pay check, if I lost my job I would become homeless.

Head over to this set of boards, put a Statement of Affairs up on the Debt Free board, and you'll get suggestions for paring your expenditure bone. There are also suggestions for boosting your income. One tip, before starting another job, make sure you know what your current employers say about taking on a second job, and get permission if needed. 

Start saving a small amount as soon as you can, it won't look like much to begin with, but anything is better than nothing. 

Me personally, I've never worried about being sacked. I did once do something disastrous on the PC (deleted a mailing list), and thought briefly about offering to resign. Then I decided it would be of more benefit to stay and sort the problem out, which I managed to do. 

But DH had a contract end unexpectedly once, was made redundant once, and effectively managed out at the end of his career. We managed, but life was 'interesting' for a while.

FIREDreamer

Had 3 compulsory redundancies in 35 years. The next one (some time within 12 months) will be my choice.

Not worried, looking forward to getting the courage and confidence to do it!

EDIT: To clarify I mean retirement, no hope of redundancy (which I would actually welcome as a bonus now)!

theoretica

Worry - no.  Contingency plan - yes.

Malthusian

JReacher1 said:

Always good to have a slightly incompetent colleague who you can use as the “canary down the mine”. As long as he’s still there then I know my job is safe 😃

As long as they're not paid less than you. Then you're their canary 😃

Intoodeep

40 Years in the same job this week, so not particularly worried about being sacked.

prettyandfluffy

JReacher1 said:

Always good to have a slightly incompetent colleague who you can use as the “canary down the mine”. As long as he’s still there then I know my job is safe 😃

Not always a safe assumption as some seemingly incompetent people remain in the same job year after year whilst others are let go; perhaps they are seen as useful in a way that is not obvious to you? Better to keep your head down and focus on doing your job to the best of your abilities.