The Risks of Being Employed

The buffeting winds of change

The Risk of Business

Some may say that it is because I am currently self-employed and hence that is why I am now lobbying for the greatness of running a business and being self-employed.

Let me be fair. Much have been said about the risks of running a business. You may fail, you may get cheated. The income is not stable. You are affected by the weather of the economy etc. In fact, just earlier today, I just message a friend to advise him to stay at his current job instead of setting up his own business. Well, he is valued at work and his prospects are good. And his pay is substantial. So why not.

In essence, employment is never going to be as risky as being self-employed. I agree and I accept that.

As an analogy, running a business is like flying. The risks are numerous and in the event of an accident, and you have fewer chances of walking away alive. However, being employed is like driving. Largely, it is safe and in the event of an accident, most cars are built in a way that you can walk away alive.

Employment and its Dangers

Why the title then, one may ask. Well as much as staying employed and having a fixed income is a safe option. There are many hidden and inherent risks in being employed.

1.   A Sole Income

This is perhaps one of my biggest bugbear to employment. Being employed requires one to dedicate a large amount of one’s time and energy on the job. You are required to be at work from x to x hours. You are to complete x and x project as tasked. Hence, it is very unlikely that you could spare the time and energy to do another job or have another source of income. Yes, it is not impossible. I am a living example of one who worked and run a business for many years. But I can tell you, it is extremely exhausting and soul draining.

Having a sole income means in the event something happens to your job, your financial lifeline is cut. Your income is zero. Null.  You are living on reserves. Now, let that sink in for a while.

Your bills will be waiting for you, and there is no way of building an income in a short time to take up that huge chasm. You have to look for another job. Fast.

2.      People Come and Go

You had a great boss. You worked well with him and he values you. You are on your way to your promotion and a pay raise. Life is great.

Suddenly, circumstances changed and he resigned, got promoted, retired etc. You get a boss who you doesn’t like you. He picks on you. He gives you the worse assignments and projects. He chides you and he thinks you are not up to the task. Life is horrid. You are considering resigning but you need to pay the bills. You are stressed.

Your work team was fun and cooperative. People looked out for each another. You enjoyed being at work. Laughing, sharing and celebrating Christmas, New Year and many festivals. Friends are made and it is a wonderful time. The environment is positive.

A backstabber joins the team and started reporting to the management on every mistake made by the team members. The backstabbers ascends in position and favour by the bosses. The team begin to talk less and be more wary. People who were stabbed leaves or transfer out. You worry that you be the one that would be stabbed next. The environment becomes toxic. You are considering leaving.

3.      The Nature of the Job

The job that you gotten is in line with what you believed in. You are able to touch peoples’ life. It is meaningful and yet you are paid. You can’t believe that you are actually being paid to have such an enjoyable time. The working hours is great and you have good balance between having time for work and your personal life.

A new doctrine or new Chairperson comes to your job. Do more and do faster! Chants the new tagline. Your job structure changes and you are overwhelmed by the amount of workload. You are expected to work longer hours, on weekends and evenings. You got stressed and complained to your direct superiors, they shrugged and said they can’t do anything. It is a new direction.

You tried to endure but end up exhausted and disillusioned. You have no place to go.

4.     The Location of the Job

Your work location is less than a 10 minutes commute from your home. You can wake up at 8am, get dressed, have breakfast and still be able to reached office in time. You can go home for lunch and you get home in a jiffy after work. There are shops and malls near your work location and you can buy your groceries and fulfil your shopping habits during lunch time and after work.

The rent went up and your boss said we now have to relocate to another location. The commute is now 1.5 hours and you have to get out of your house before the sun rises and reaches home after the sun set. Your children barely sees you. You are considering  getting a car but parking is expensive at the new site.

To be fair, this is a shortcoming that even I faced currently as a self-employed. Currently, my rented workspace in a co sharing office, is right next to my flat. I take the lift down and walk over to the library next to my flat. My office is located on the 3^rd floor of my the public library building. In the event if Regus, which is my workspace provider decides to cease its tenancy with the National Library Board. I will have to commute. And this is something that is beyond my control.

Final Analysis: Beyond Your Control

There is a recurring theme in the points that I have mentioned above. That is, in many ways being employed means giving up your own independence to allow a company, an organisation to dictate your life. If things are great, you will be good. But if things goes south, there is absolutely nothing you can do. You are entirely exposed to the buffeting winds of change and there is nothing you can do about it. Being employed is stable and put food on the table monthly, but there are risks.

And the question is, are you willing to take the gamble.