The number of people in the US who are quitting their corporate jobs to start their own businesses is growing. One recent best-selling book entitled Fire your Boss! seems to reflect the growing discontent with company life. Why are so many people going into their own businesses? One of the most frustrating things about corporate life is the bureaucracy. This is the administrative system of paperwork and red tape that keeps track of everything in the corporation.
Any decision must be agreed upon by many people in different departments and levels of the company. This can be very frustrating for individual employees who want to have control over their own work. They can become exasperated when their good ideas get tied up for months in the bureaucratic machinery. Employees often long the freedom of being their own boss. Another depressing aspect of working for a corporation is the lack of job security.
Contrary to business owners, employees in a large company can be fired at any time, for almost no reason. If there is a downturn in the economy, layoffs are likely to come. Even if a worker has done his best to serve the corporations, he could find himself fired without warning or explanation. When a person works for himself, however, he cannot be fired. The traditionally attractive fringe benefits of a corporate position have been decreasing in recent years as well.
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There was a time when landing a job at a top corporation meant the employee was assured of a good retirement. More and more these days, however, pension benefits are being cut to lower payroll costs. Workers are being forced to worry more about their own retirement plans. In the same vein, health care is another benefit that has started to evaporate. Health insurance premiums are rising, while covered medical conditions are shrinking. This means employees are paying more out-of-pocket expenses than before and getting less care in return.
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