Nowadays, many people choose to be self-employed, rather than to work for a company or organisation. Why might this be the case? What could be the disadvantages of being self-employed

Self-employment is increasing these days with a

lot

of

people

choosing to pursue their interests independently than working for a company. Stress in workplaces and less salaries might be some of the major causes for the rise in

this

trend. Though

,

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these look like some strong and meaningful reasons to quit working for a company to some extent, there are a

lot

of disadvantages.

Firstly

, in many workplaces, employees are being forced to

work

for longer hours and are

also

being pressurized to deliver high and incremental performance.

Moreover

, in spite of working hard ,they are being paid less when compared to the market average. To elaborate on, many organizations are exerting pressure on their existing employees with their unrealistic performance evaluation systems.

This

is creating anxiousness amongst the workers and they are pushing themselves harder than ever to reach the expectations to receive a good pay hike.

However

, even after doing a

lot

of hard

work

, most of the employees are still not receiving

good

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returns they deserve and are remaining disappointed.

Furthermore

, on the pretext of cost-saving many employers are hiring a limited workforce and are making the existing individuals

work

for extended hours to complete the tasks on time.

Thus

,

work

-life balance is

also

getting highly disturbed. With all these problems, many

people

are choosing to quit their jobs and are setting up their own businesses with the capital available in the industry of their choice. While self-employment has its own benefits, there are more disadvantages.

To begin

with,

people

switching careers from being employed to becoming self-employed have to make a

lot

of adjustments. They have

to begin

everything from scratch. Sometimes,

this

also

means taking huge loans from banks apart from investing their savings. In return, monthly returns are very uncertain and are dependent on several prevailing factors in society. In recent days, during covid times, most of the self-employed

people

suffered a

lot

due to the lockdown restrictions. They weren't able to pay their monthly bills and few were hardly able to afford a decent living.

Thus

, there is always a risk associated with self-employers unless they are backed up by some financial security. To conclude, these days

people

are trying to

work

and earn independently due to reasons like stress in the workplace, more

efforts

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and less recognition and the culture of certain organizations.

However

, self-employment has a

lot

of disadvantages than advantages due to untimely payments and heavy dependency on society.