Why would employers not take advantage of cheaper workers abroad?
Many of the products we buy are produced abroad, often in China. The products are cheaper to produce and we all benefit from the lower costs. We all take this for granted. We barely notice that manufacturing jobs have disappeared over the years.
However, many jobs can’t be exported abroad because the workers need to be physically present in the US. Some of these jobs could still disappear though, due to them being replaced by robots and AI.
Automation is here
Many driving jobs will be replaced by self-driving cars and trucks in the coming years. Even your local taxi driver is likely to find themselves out of work.
There are already restaurants operating with mainly robots as staff. These types of restaurants will likely spread quickly once the public gets used to them.
Take a look at this 24/7 vending machine café in Singapore. It looks depressing to me, but we’ll start seeing more and more of them. They require a minimal amount of staff.
Getting a job flipping burgers will no longer be a thing. Unless you’re a robot.
Office workers may think they are more secure, but even their jobs are starting to be replaced by automation. AI can now do many tasks related to bookkeeping, accountancy, law, and other office-based businesses.
Safe from robots and AI?
But what if you’re in a job that’s safe from robots and AI?
Not so fast.
If you work from home, does your employer really need you? In the past, the answer was probably yes. They needed you to be physically in the office.
But what if you now work from home? Do they still need you?
I guess that it won’t be too long before they start hiring remote workers from abroad instead. If they can hire a foreign worker for the fraction of what it costs to hire you, why wouldn’t they?
They likely won’t get rid of your whole office in one go, but as employees leave, they may be replaced by foreign workers.
If you think that won’t affect you, then think again. If you ever leave your job, will there be any new jobs available? Or will they all be offered to foreign workers?
It might be a reason for you to consider an office job instead of a work-from-home job.
Doom and gloom?
I know many will think this is all doom and gloom, but it’s not. Just look at history. If an employer can hire cheaper workers from abroad, that is exactly what they do.
I don’t think there’s any immediate danger, but this scenario is likely to become more prevalent over the coming years. The excuse will be that employers can’t find the right local people to do the work. Wages are rising fast. Employers will be looking for a way to reduce those costs.
What would I do?
Personally, I’d go back to the office and try to make myself indispensable.
As well as that I’d build a few other streams of income, just in case.
If the worst happens and you find yourself out of a job, wouldn’t it be great if you already had a few income steams already set up?
This is how I ran my life before reaching financial freedom. My day job was to pay the bills and have some left over for investing. My side hustles built extra income that made me financially more secure.
Don’t dismiss what’s happening right in front of your eyes. Plan ahead. Start right now.