MAXIMISING PAID EMPLOYMENT!

A lot of people are of the opinion, that those in paid employment are capped financially. Meaning there is a level you cannot attain financially with it. In as much as being self-employed is good and has a lot of benefits, being in paid employment and evolving eventually to self-employment has a lot of inherent advantages as highlighted below:

§?It aids the development of standard work ethics. For a career starter, being in paid employment inculcate the value of discipline and accountability in you; unlike when you start with your own business and you are answerable to no one.

§?It helps you learn how to effectively work in a team. This team experience is required for a better understanding of the dynamics of people. A lot of people skills are built by working in a structured organisation.

§?It shapes your personality. The high and low periods of paid work go a long way in instilling important values in us. The absence of this often leads to gaps for some business owners.

§?In addition, it supports the building of networks, which might not be easy to build starting as a self-employed person.

§?It gives essential exposure along the career path, through diverse learning and development programs that might not be affordable for an entrepreneur.?With this, when you eventually start your own business costly mistakes are avoided, because you have been skilled along the career path through the collective experience of people in organisation (s) where you have worked.

§?You are guaranteed a steady income, insurance benefits, bonuses, and a retirement plan.

§?It gives access to loans and mortgages.

§?You have time to plan and build resources to eventually start your own business, as it is always good to grow a business when you have a steady source of income where possible.

§?It enhances the social status and gives the required exposure to navigate the business world successfully. There are social privileges that you are exposed to with paid employment that an average self-employed person cannot afford. All these exposures always make a difference in attitude, networking, business interaction, and quality of service delivery.

Perceived Financial Limitation of Salary:

§?It is not in all cases that salary is a limitation, in terms of the comfort it can buy an employee. What is required at times, is better planning as highlighted below:?

§?Always have a plan right from the onset, about the number of years you want to be in paid employment.

§?Start planning financially for your exit right from day one.

§?Be prudent with managing your income and set personal goals, in terms of investments. If you always have investment goals to achieve, it helps you to manage your resources better.

§?Since one of the benefits of paid employment is access to loans. Always take advantage of this to achieve your investment goals.

§?Do everything in moderation, so as to be able to maximise your income. Consistently make plans for the future, by making the right investment decisions no matter how small.??

§?Get skilled and continue to develop yourself at all stages of your career; so that you can access jobs with good pay, that can afford you a competitive standard of living.

§?Be committed and impactful on the job; with this, you can grow faster on the career ladder and attain the expected level of financial independence. A lot of people have transitioned through this to ownership status in organisations.

§?Do not stay too long in an organisation, except the rate of your career growth meets your expectation or there are clear growth prospects.

§?Shun complacency by reviewing your career and personal goals continuously based on current realities.

§?Love your job but do not lose focus on your personal goals. Do not get carried away with the recognition on the job, as this might not be sustainable for a lot of reasons.

§?Start developing your business along the line; as you cannot leave this till you exit or when you retire. It is always good to create time to start building your own business gradually by the side when you are in paid employment (so far, your performance is not affected and there is no issue of conflict with your job).

This write-up is not meant to devalue self-employment, but to open up to people the opportunities in paid employment. Being self-employed obviously has a lot of benefits. The good news is that entrepreneurs that have never engaged in paid employment, can deliberately through developmental programmes, the right exposure, and appropriate networking/mentoring programmes close what would have been gaps in their experience.

The beauty of life is, there is nothing we set our minds toward that we cannot achieve, whether in paid employment or self-employment; with proper planning, resilience, hard work, positive values, and prayers.

Keep making an impact!

‘Remi Adekunle