Know the Advantages & Disadvantages of Private JobsAlmost 31% of the total workforce of the country is employed in the service sector. The service sector is further distributed in two broad categories, the private sector, and the public sector.
The major difference between private and public sector jobs is that public-sector jobs are generally within a government-owned company or agency, whereas private-sector jobs are those where employees are working for a private individual or group of individual owned/ non-governmental agencies. This includes jobs within individual businesses as well as within other types of organizations having private ownership.
There are plenty of private jobs in Delhi and other metropolitan cities in India. Many private firms hire employees on contract and help the business, factories, and industries with manpower. Jobs for Freshers in Delhi and other popular work destinations are majorly private sector jobs.
There are various sectors of business where the capital requirement is enormous, those sectors are handled by government-owned companies while most of the other sectors are being led by private companies.
Examples of private-sector employment areas:
Private sector jobs have their advantages and disadvantages.
ADVANTAGE
→ Impressive salary packages – The impressive salary package is the biggest advantage for people who fall for money. The salaries of employees in the private sector are one of the major attractors for job seekers.
→ Faster career growth – The hierarchy and promotion system in the private sector are given more importance to boost the morale of the employees.
→ A larger number of opportunities The private sector jobs provide a larger number of growth opportunities. Time taken for promotions to reach up in the hierarchy and salary increment approvals is less in private sector jobs than in the public sector.
→ Greater fluidity of changing the jobs – On average there are one government jobs for every fifty private-sector jobs. This shows the number of opportunities in the private sector, which gives you the freedom to switch your career or the company you work with.
DISADVANTAGES
→ Greater instability - One of the biggest disadvantages of private-sector jobs is the instability of jobs in the sector. The lower efficiency of the business due to internal or external factors results in the lay-offs of a large number of employees. Like, we are witnessing these days due to the Covid-19 pandemic.
→ High Job Competition - The competition in the private sector jobs is very high, unlike the jobs in the public sector where if you once get a there are very bleak chances of you to get replaced by some other person. In the private sector jobs, there is always a chance of getting replaced as soon the company gets someone more efficient than you.
→ Lesser Job Perks - The perks associated with private-sector jobs are lesser as compared to the jobs in the public sector. Except for the salary, the private sector lags in every other perk like insurance or retirement plans.
About This Author | Steve
Joined: May 8th, 2020
|
|
