BNET Business Dictionary
Business Definition for: Downshifting
- the concept of giving up all or part of your work commitment and income in exchange for improved quality of life. The term was coined by Charles Handy. Downshifting has increased in popularity because of rising stress in the workplace caused partly by the downsizing trend of the late 20th century, and may be contrasted with the concept of the organization man. Downshifting is integral to the idea of portfolio working, in which individuals opt out of a formal employee relationship to sell their services at a pace and at a price to suit themselves.
Most people consider downshifting because of family demands, or because they have been asked to do something by their organization that goes strongly against their values, pushing them to question why they are working so hard for that organization. Others downshift as they approach retirement, in order to smooth the transition. People who downshift need to be very sure that that is what they really want and know why they want it, as it can be hard to reverse the decision.
Someone wanting to take the risk of downshifting should make a thorough assessment of his or her short-term and long-term financial situation by way of preparation. They will need to have a good bed of savings to rely on in the first year. It may be necessary to consider moving to a smaller, cheaper place. Deciding what to keep of the old life and what to let go is another important part of the preparation. Some downshifters will want to completely leave their old work life behind them, start a new job in a slower-paced organization, or set up on their own. Others will want to stay with their organization but perhaps move to a less demanding job. Once these things have been considered and decided upon, it is time for the downshifter to make an action plan with a schedule which includes regular re-assessment periods.
Wiktionary Definition for: Downshifting
- present participle of downshift
Additional Resources
- LEAR TO SLASH 2,800 JOBS, CLOSE 18 PLANTS.
- Downshifting from its aggressive growth strategy, Lear Corp. plans to lay off about 2,800 employees, many of them in its plastic interior systems group, and close 18 plants worldwide. Those actions, expected to be completed by the year 2000, will h Downshifting from its...
- Research articles 1998-12-14
- Auto suppliers brace for hit; Slower car sales would shake local parts industry. (News).(auto parts manufacturers prepare for an industry slowdown)(Industry Overview)
- Byline: H. LEE MURPHY Local automobile parts suppliers are bracing for a downshifting new-car market this year. ``Our auto orders so far in January are flat compared with last year at this time,'' reports Peter Cherry, chairman and CEO of Wauke...
- Research articles 2003-01-20
- OSHA rulemaking: Downshifting into neutral?
- Nash, James L Nash, James L
- Research articles 2001-07-01
- UNITED STATES
- Downshifting toward trend growth * Real GDP advanced at an annual rate of 4.8% in 2006Q1, about as expected. The growth was concentrated in consumers' expenditure, which jumped 5.5%, but nonresidential investment was also strong, up 14.3%. Residential investment rose moderately, while government spending jumped 3.9% after an unusual Q4...
- Research articles 2006-05-01
- Redress the balance of work and life
- Had enough of the rat race? The perpetual, debilitating slog of long hours, stressful work and evaporating leisure time? Perhaps it is time to trade in your high-pressure, high-speed existence for a simpler, more balanced life by downshifting. According to Datamonitor, a business information and research company,...
- Research articles 2004-09-18
- Walters trims her schedule.(downshifting)(Brief Article)
- Barbara Walters is stepping down as co-anchor and chief correspondent of 20/20 after 25 years, effective in September. She'll cut back to a handful of prime time specials each year, including her widely watched pre-Oscar interview show. But she will continue to be a regular presence...
- Research articles 2004-02-02
- The Drive to Downshifting - flexible work schedules - Brief Article
- Susan Sweet, who handles retention, work redesign, and work-reduction issues for Ernst & Young, has had some experience with cutting back on job hours. After having a baby in 1998, she reduced her work schedule 25 percent. Now, she has chosen to work 90 percent of her original schedule so...
- Research articles 2001-10-01
- Housing topping more records in 2005 before downshifting
- LOOK FOR HOUSING TO REMAIN A MAJOR economic force with record home sales and near-record residential mortgage production expected in 2005 before the market downshifts, even as the Federal Reserve is poised to continue its rate tightening, predicted MBA Chief Economist Doug Duncan. The message the Fed has conveyed...
- Research articles 2005-12-01
- Global watch: eye on the US, Germany and the Euro area; economic conditions improve but at a slower than expected pace. (Management).
- THE EARLY JUNE estimate for second quarter global gross domestic product GDP has slipped to 2.6 percent, which reinforces the notion that global growth has moderated following a surprisingly strong 3.5 percent first quarter gain (q/q, saar). The biggest deceleration is on tap for Japan where...
- Research articles 2002-06-17
- Fitch Teleconference: Muni Implications of U.S. Auto Industry Decline 11/16 11AM ET
- NEW YORK -- The decline of the U.S. auto industry has had negative consequences for regional, state, and local economies that will likely continue, according to Fitch Ratings, who will hold a teleconference tomorrow morning at 11:00 a.m. EST in conjunction with the release of a special report titled 'Downshifting:...
- Research articles 2006-11-16
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