If you’ve ever considered the difference between working for a startup and working for a corporation, you know that they were not created equally. Working for a startup might sound interesting, but employees might not get the employees perks and benefits they’re looking for, such as a steady salary, health insurance, and incentives. If you’re excited about the thrill of helping build a company from the ground up, and you don’t really need benefits and perks, by all means, work for a startup. But if you need stability, insurance, and guaranteed growth opportunities, then a corporation is what you’re looking for. Let’s take a look at the top seven benefits of working for a corporation that a startup just can’t provide.
1. Health Insurance
Health insurance is one of the top perks employees look for because it provides a sense of security in case an employee or their family members becomes seriously injured or ill. Startups usually don’t have the resources to provide their employees with health insurance right from the start. However, working for a corporation almost always ensures that you’ll get employer-sponsored health insurance, meaning you pay a portion and your employer pays a portion.
2. Steady Salary
Working for a corporation can provide a steady salary, whereas a startup might not. When you work for a larger company, you’re pretty much guaranteed to get your paycheck every week or every other week. But with a startup, you might not receive regular, steady paychecks. You might be paid on a per project (or freelance) basis at first. Oftentimes, you won’t get the salary you might deserve at a startup, but a corporation can pay you what you’re worth and more.
3. Better Coaching and Training
One of the best things about working for a corporation is the coaching and support you get through formal, structured training programs. With this kind of training in place, employees know exactly what to expect and they can get a better understanding of the company culture, policies and procedures, and the organization as a whole. A startup might not have that kind of training regimen in place just yet and employees might not find it as easy to navigate their way through their work responsibilities.
4. Paid Time Off
A larger company can offer paid time off in the event that an employee needs some time to deal with personal issues or life events, or if they simply need a vacation. At a startup, you might be able to take some time off, but it’s likely you won’t get paid for it because a growing company usually doesn’t have the funds to pay you for hours you don’t work.
Larger corporations can offer incentives for employees who perform well, such as cash bonus, stock options, gift cards, extra time off, or short vacations. Depending on the company, you could also receive incentives like education reimbursement, global mobility, lateral opportunities, free personal or financial counseling, service banquets, company picnics, and appreciation lunches. With large companies, the incentives can range from small to large, so you never know what you’re gonna get when you join a new team.
6. Family And Medical Leave
A corporation can provide benefits like family or medical leave in the event that employees or their spouses become pregnant during their employment, or if they become ill and have to leave work temporarily. A startup won’t have the resources to pay employees while they’re out on medical or maternity/paternity leave. Employees looking for this kind of security would be best suited for a corporation, rather than a startup.
7. Opportunities to Grow
In a smaller company, there isn’t as much room to grow as there is in a larger company. For example, corporations usually have more positions, departments, and offices, and therefore, more opportunities to rise within the company as well as make a career change in a whole new location.
Benefits of Working for a Corporation With a Direct Selling Business Model
Many corporations have business models that benefit both the employee and the company, such as a direct selling business model. Companies like Amway have gotten a bad rap because some people aren’t aware of this type of business model and assume it’s a pyramid scheme or scam. But it’s not. A lot of companies operate under a direct selling business model and their employees are actually independent business owners (IBOs), which can have its share of benefits, including the ones mentioned above, like health insurance and incentives.
So if you’re at the point in your life where you need stability and employee benefits like the ones named above, your best bet is to work for a corporation that has your best interests in mind. Companies like Amway provide employees with amazing perks that make working for a larger corporation much more beneficial than working for a startup.