JobKeeper: what to do while you have it so you keep working once it’s gone
JobKeeper and JobSeeker have both been extended but they can’t last forever. Experts share what recipients should be doing now so they are well-positioned when it all ends.
Careers
Don't miss out on the headlines from Careers. Followed categories will be added to My News.
The Federal Government’s JobKeeper and JobSeeker schemes have been extended for a further six months and three months, respectively, although both have been updated because of the changing economic climate.
Experts share their advice for how recipients can best spend their time on their benefit.
LOCK IN YOUR HOURS
Under the updated JobKeeper scheme, the one-size-fits-all $1500 fortnightly payment will be reduced and a two-tier system introduced.
Between September and January 3, affected employees who worked 20 hours or more each week before the pandemic will be eligible to receive $1200 a fortnight.
Those who worked fewer than 20 hours a week will be eligible to receive $750 a fortnight.
From January to March, 2021, the figures will reduce to $1000 and $650 a fortnight, respectively.
Workplace relations consultancy Employsure managing director Ed Mallett says there is a risk the smaller JobKeeper payments will encourage employers to cut casual workers’ hours.
“There is a risk this time that employers will say, ‘I will only get you to work up to the level of subsidy’,” he says.
While some staff may not be able to control how many hours they get, they should be prepared to work the hours they are asked.
Restaurant owner Kurtis Bosley, who has seven staff on JobKeeper at Corretto Dee Why, urges workers to think about how their attitude now will affect their employability in the long run.
“I have heard horror stories from other operators saying staff don’t want to work (if they can receive JobKeeper either way),” he says.
“It’s a very small group of people that aren’t thinking too far ahead.
“Unfortunately (they) will be struggling, but those who say, ‘I am going to support those that supported me’, they will be well-situated to progress themselves in their workplaces and jobs and in general.”
PREPARE FOR THE WORST CASE SCENARIO
IBISWorld senior industry analyst Matthew Barry says the extension of JobKeeper gives businesses that would have thrived if not for the pandemic some “breathing room to recover”.
“However, it’s also worth pointing out that JobKeeper has propped up businesses that would otherwise have failed,” he says.
“Once JobKeeper is removed, the number of businesses entering external administration is likely to spike.”
Financial adviser and Money.com.au spokeswoman Helen Baker says people should get on top of their finances now to prepare for potential loss of income if their employer goes under.
As well as consolidating debts, negotiating lower interest rates and saving a six-month emergency fund, her tips include:
Look for work while still employed
“If you think it’s fairly likely that you’ll lose your job, start applying for new jobs now,” she says.
Use your annual leave
“Rather than taking a long stretch of leave, consider taking off one day a week or fortnight,” Baker says. “If your employer (has) to decide who they will stand down temporarily, remaining in the workplace and showing your value might help you retain your role.”
Generate a second income stream
“This could be a casual job or self-employed work such as tutoring or Uber driving,” she says.
GET YOUR NAME ON EVERY LIST
From September, the JobSeeker payment will fall from the $1115 to $815 a fortnight, however recipients still will be able to earn up to $300 a fortnight without affecting their payment. At this stage, the JobSeeker coronavirus supplement will end in December and payments will revert to the base rate of $565 a fortnight.
While there may be few vacancies for jobs now, jobseekers can use time they would spend knocking on doors or sending applications to create job search profiles and registering their details with employment initiatives.
The Australian National Talent Registry, for example, launched by News Corp and recruitment technology provider Shortlyster, aims to match jobseekers to employers based on their personality and culture fit, not just skills and experience.
Sign up to the registry here
Originally published as JobKeeper: what to do while you have it so you keep working once it’s gone