Paid employment is where someone takes up a job in which he/she is paid a uniform wage or salary either on a daily, weekly or monthly basis for a specific assignment given by the employer for a specified period of time.
ADVANTAGES OF PAID EMPLOYMENT
Steady Income: A paid employee is assured of a regular payment at the end of a specified period of time, such as every week or every month. This provides financial security and stability, which can be helpful for budgeting and planning for the future. It can also help to reduce stress and anxiety about money.
Specific responsibilities: Paid employees are typically given specific responsibilities and tasks to complete. This can help to provide a sense of purpose and direction in their work. It can also help to improve efficiency and productivity, as employees know what is expected of them.
Fringe benefits: Paid employees may also receive fringe benefits, such as health insurance, paid vacation time, and retirement savings plans. These benefits can help to improve the employee’s overall well-being and financial security.
Minimal fluctuation in earnings: The earnings of paid employees are typically less likely to fluctuate than the earnings of self-employed workers. This is because employees are typically paid a fixed wage or salary, regardless of the amount of work they do. This can provide financial stability and peace of mind.
Reduced fatigue: Paid employees typically work for fixed and favorable hours. This can help to reduce fatigue and improve productivity. It can also allow employees to have a better work-life balance.
Improved skills: Paid employees may receive training and development opportunities to improve their skills and knowledge. This can help them to advance their careers and earn higher salaries.
Easy for government to collect taxes: The government can easily collect taxes from paid employees, such as income tax and social security contributions. This is because employers are required to withhold these taxes from employees’ paychecks and remit them to the government.
Guided by rules and guidelines: Paid employees are typically guided by rules and guidelines, which can help to minimize risks and ensure a safe work environment. This can be helpful for both employees and employers.
Overall, paid employment offers a number of advantages, including steady income, specific responsibilities, fringe benefits, minimal fluctuation in earnings, reduced fatigue, improved skills, easy tax collection, and guidance by rules and guidelines. These advantages can help to improve the employee’s overall well-being and financial security.