A Corporate Systems of Salary | Consitant Pressure from Manager for Perfomance | Cost-cutting-Steps | Limited budget | A Social Aspect
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Hello and welcome dear friends,
Today in this article we will discuss about the reality checks of more
salary means more risk to the job. I will give the real life experience of
mine and real time examples of my friends.
The relations between a higher salary and job is the interesting topic of
discussions and debate in the corporate world.
while higher salary often denotes the higher profession success of an
employee but It can also comes with more risk to the job security and
stability in career of an employee.
A Corporate Systems of Salary
In a corporate world more salaries are offers to them who brings and create
values to the organisation.
Higher salaries are eventually awarded to them who possess a unique
skill, expertise, An a couple of years experience, An some companies gives
hike based on your last drawn salary, However some may have the specific range
and organized budget for the requirement they have for the relevant
experience.
but you cannot justify the thing that, higher salaries often comes with
higher expectations, Companies wants high earner's to deliver consitantly an
unexceptional performance, They needs you to drive a more responsibilities and
a significant result.
Consitant Pressure from Manager for Perfomance
One of the primary reasons is that also, Why higher salaries lead to
insecurity in job is the immense and consistent pressure from management to
the employee for his performance.
An employee with higher salary is continue to be in the surveillance of
management to justify there compensation they earns.
Any lacking in performance or if fails to meet benchmark set target can
lead to dissatifaction among the management and if you continue to do so,
They will get you through PIP (Performance improvement plan) and if you
still not meet your target that can lead to Layoff for high-earning
employee.
In addition a higher salary brings competitive work environment.
Colleges may view high earner's as there competitive and try to
outperform from them and take an advantage infront of manager's.
This is the reasons experts say do not disclose your salary to anyone. If you
have high salary that can create jealousy among them and creates a stressful
environment in your job.
Cost-cutting-Steps
During economic crisis, Recession, Period of financial instability or a Covid
like situation organisation often takes the measure of cost-cutting to
survival of there business and in that situation high earning employee's are
most likely a prime target for them. To take the Cost cutting measures laying
off an employee that earn's high is more cost effective than laying off
saveral employee who earns low .This approach of viewing your employers as a
expense rather than a asset to high earn employees can significantly effect
your job security.
Moreover Companies replace high earning salary employee to the young employee
as more likely as freshers less experience staff who are willing to work for
lower salary. This strategy allows companies for cost-cutting more
effectively.
Limited budget
Higher salaries most likely to vibrate companies budget, especially in
smaller scale companies and new age start ups. despite of these emplyees
possess an unique skill, There valueable experience. There higher
compensation constraint companies to invest in other areas such as Technology,
Marketing, R&D, Infrastructure, Operations, Maintainance etc. In such
cases Companies try to reduced there work forces or opt to cut high salary
employee to manage there resources effectively.
A Social Aspect
An employees may feel that there package is already high so if we go in the
market to ask for even more they are most likely to be feel denial from most
of the companies.
A social impact of higher salary on job security shouldn't be overlooked, High
earner's often feel pressure from there instict and from society to maintain a
standard, living hood and lifestyle. That leads them to bring stress, anxiety
and sleeplessness among them if we lose our job we have nothing to do.
They may feel that they have more to lose reputation, professionalism and
interms of financial instability
Work life balance:
An high earner's more often I have seen, They compramised with there work life balance and family time, As they work for longer hour's and takes more
responsibility to justify there salary to there employer.
This imbalance of life often lead to affecting there physical and
pyschological health. Over a period of time they may feel frustration can
impact there job performance and increses insecurity on there job.
Skill developement and updation
One of the major key to keep there job safe is to expand and updated there
skillset time to time and stay udated with market trend.
High earners should invest in joining new courses like online or offline
udemy, great learning etc. or industrial confrence to stay updated and seek
out new certification to get relevant in the field.
By continueus demonstration and commitment towards growth and learning,
They can create values to the organisation and can do a let go from being
replaced.
Building a Strong Network professionally
An building a strong professional network among collegue, friend's, Mentor,
industry peers and with management can bring an enlarge network that you
build in your career may brings you join more peoples and gain more
experience, support, guidance and huge no. of vacancies and job refral in case
you lose your job.
In an addition high networks and positive reputation in industry can
make more attractive to employeers for high earners.
LinkedIn is the best platform to expand your network profssionally by the way
if we have talk about linkedIn,
here you can connect me with LinkedIn
===>>Click here
Maintanaining financial Prepareness-
As we have discussed in early articles here is the link if you have not seen
yet.
==>>
Click here
In this article we have discussed, Is Corporate job are really safe, We've
discussed some points that jobs are not safe, In corporate they hold the right
to fire you anytime for any reason.
So on,
It's better your prepareness in case of job loss, financially till the time
you get offered an employment
As an example Emergency funds, Balance in your PF acount, Blue cheap Stock
buying, mutual funds and diversify your investment interms of getting sefty
net during your unemployment period. This financial preparedness allows high
earner's get free from stress, anxiety and depression and can make the better
career decision
Conclusion :
Higher salaries often considered with a professional success and financial
stability, It can also comes with risk of job security, High earners
often face with cost cutting steps, performance pressure from manager, Lack of
job opportunities, limited budget in small resources and they compramised with
work life balance
However they can minimize this thing by making financial prepardness, building
a strong networks and by working on there skills so that is all for
now.
We will meet in the next article with next topic till the time do follow the
page for such an intersting informations.