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Working for an Employer: Much More Than Just a Paycheque

Posted on Tuesday August 14, 2018


Working for an Employer: Much More Than Just a Paycheque

(billet 2 de 2)

In a New Brunswick where more and more people are exploring options for self-employment, what are the advantages of being employed by someone else? Working for a company appears to have less appeal among the younger generation, yet there are still many positives to being a paid employee. Here are some points to consider if you're thinking about taking on (or keeping) a paid position.

Job stability and security

Being a paid employee typically offers greater stability and more consistent pay than can ever be found when you are self-employed. One significant advantage of working for a company is that you can budget over the long term, for example, if you want to save toward a down payment on a house, buy a car or set aside money in an RRSP or other savings tool.

Work/family/vacation balance

Paid employees tend to have stable, predictable work schedules, which makes it easier to plan family time and leisure activities. Traditional 9-to-5 hours are also more compatible with daycare and school timetables, which eliminates a lot of worries! Pre scheduled (and paid) vacation is another blessing of working for a company. Rarely challenged by an employer, it is generally to be taken and enjoyed without worry while colleagues cover for your absence.

Hesitant to commit to working 9 to 5? Keep in mind that a large number of employers now offer flexible scheduling and work-from-home options as well as more opportunity for unpaid leave and vacation to meet the needs of the next generation of professionals. Some companies even encourage workers to bring their dogs to the office on Fridays!

Emerging concept: the ?intrapreneur?

Forward-looking companies are seeking continuously to streamline their processes with a view to maximizing productivity and profitability in addition to promoting employee development within their organizations. Employee retention is extremely important. The intrapreneur model is founded on the principle that by giving workers greater latitude and assigning them tasks normally performed by management, companies can transform these individuals into ?inside entrepreneurs.? This provides employees the opportunity to tap into their entrepreneurial qualities and creative side while still enjoying the stability and access to resources of a well-established company.

Financial tools for employees

Today's paid employees have access to an advanced system of financial management tools which, along with the regular nature of their income, can help them repay large loans more quickly. Some companies even offer in-house options in this regard or make life and disability insurance packages available to workers at highly attractive rates.

Check with your human resources advisor or financial planner!

Steady wealth building

Many paid employees in New Brunswick are enrolled in a pension plan. This organizational benefit is a powerful planning tool for the crucial time when income begins decreasing at the same pace as work activity. By combining a good pension plan with regular savings in the form of an RRSP and investment in real estate, for example, you can create the perfect asset mix to support a comfortable retirement and your post-employment projects.

But enough from us! What do YOU like the most about being a paid employee?

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