Corporate Stability Is a Myth.
If you’ve ever worked for a corporation, then I’m sure you’ve heard of “Corporate Stability.” Corporate stability, in the context that we are discussing, refers to how comfy, cushy, and stable your corporate job is. Corporate stability is largely a myth perpetuated by fear.
Decades back, I’m sure it was a real thing, but anyone looking at the job market of today can tell that corporate stability is a thing of the past. What happened? A lot has to do with the type of economy and technology.
We have transitioned from a manufacturing economy to a service economy, and computers & cell phones are the new norm. What do those two things add up to?
Outsourced
Outsourced was a big buzz word a while back, but it’s normal now. People no longer cringe at the word “outsource.” Outsourcing began as a way to lower the cost of manufacturing items, but now we are a service based economy. Many services are easily outsourced. Basically, if you can do it on a computer it can be outsourced.
Welcome To The Rat Race
With outsourcing wrecking a lot of the local job market, people piled into any other safe bet they could. Corporate jobs were prime real-estate. Land a cushy corporate job, work it for 30 years, then enjoy the Bahamas. Like anything else though, too many people pounding down the doors allowed companies to get picky.
With that supply of labor available, why not make extremely high productivity requirements, why not fire a 20 year veteran for a 20 something that will work for half the price? All of this came to fruition, and the Rat Race was born. Stability left long ago, but for some reason, the reputation remains.
Entrepreneurship can be called risky all day long in the news, but I’ve got millions of entrepreneurs, and about 10% of the American workforce who would agree that Corporate Jobs aren’t much better.
Paycheck to Paycheck Only
Americans, especially, have been living paycheck to paycheck for such a long time that we shriek at the thought of not having a steady paycheck coming in. This is where fear really controls us. People are afraid to start a businesses, and the only reason they have is because they have to give up their steady paycheck addiction.
Honestly, there are probably some people out there who would rather get a steady $2,000 paycheck each month, than a sporadic $10,000 paycheck. The primary reason, I believe, is fear. What are they afraid of?
- Not enough $10,000 checks coming in.
- Spending it all and not having enough.
- Losing vacation days.
Breaking the Bonds
Whatever the reason, it is motivated by fear and what-ifs. If you don’t take any risk, then you’ll never find out. Try running a business while you’re working. It might be daunting, but it might also give you a comfortable transition. If you feel trapped in your job, or you want to do something different, don’t hold yourself back.
Entrepreneurship is more than just earning a ton more money than you could make at a “regular job”, it is taking the training wheels off of your life. There are some people who are perfectly groomed for the corporate ladder, but others that aren’t. There is nothing wrong with this, but I can say that you’ll probably never reach your true potential until you break the bonds of fear over your life and go for what you truly want.
About WealthArtisan
One of the main reasons, I went out on my own was more control over my future! Earning more money is a plus, but the intangible of building something for yurself trumps that easily.
Corporate stability in terms of employment is sometimes there, but not in any way to the extent that many people may think it is universally. Not even close these days. It’s not nearly as common these days, from my observations, for people to be average performers and last in one company for decades, Even if they’re stars, they can be gone quickly.
Best to develop resilience, flexibility, truly transferrable skills, and an actively managed network.
There’s no such a notion as job stability. Stability goes hand in hand with your competence. As long as you’re competent, needed, and its impractical to replace you, you have stability. And only for some time.
Realizing this fact is the first and strongest motive for planning and strategizing ahead for your career. The moment you land the job you always wanted, preparing for your exit from that dream job might well be your best insurance policy.
Excellent article. There really is no corporate stability. It can all fall apart like a house of cards.