That's the headline in today's Financial Review. But I do not see such headlines for private companies.

My information is that there is major restructuring going on in the banks and Insurance companies across Australia. We also see adverse headlines for the major retailer groups and their plans to close stores.

Every month I meet with 24 business owners in two forums where we discuss issues impacting on business performance and there is no talk of redundancies from any of them. In fact they are having trouble finding staff to meet their business growth. There is a disconnect here somewhere.

It will be interetsing to see where these white collar employees end up in the future and its the older employees who are going to feel it most. People I know who are over fifty and made redundant are taking many months to find employment again. My advice to anyone working for a services company such as a bank or insurance company is to develop new skills. Don't be caught with a single skill set.

It is private business who will eventually employ most of those who lose their job in large companies. This should be an opportunity for private companies to find people who are looking for a challenge in their job.

A key issue for private companies is the ability to operate in a business environment that encourages employment.

There is no doubt that business owners are confused by what they read in the press regarding the current rumblings around the Fair Work Act. I have yet to come across a business owner who understands how the wage rates pertain to their industry or work place. In fact most are paying above award wages due to market pressures and hoping that have the right rates in place.  The place to start is to join a reputable Industry association such as the VACC or a group such as VECCI. Use the extensive services they offer to members.