While many people see having a job as a means to an end or just the route to retirement, there’s a lot of benefits of being employed. Adding on to this the Government's back-to-work policy will provide many benefits to those employed as they’re aiming to get parents, the over 50s and those with disabilities back into the workforce.
One of the benefits of the back-to-work policy is their pension tax reform. The reform will increase the annual allowance from £40,000 to £60,000, helping to encourage people to either stay employed or look for work.
Other benefits of being employed include:
Receiving a regular income
Whether you’re working full-time or part-time, having a job that brings regular pay can help you afford your bills or any treats you may want. Those that work full-time can expect to be paid the same amount each month, depending on any bonuses or deductions, meaning you don’t necessarily have to worry about pay fluctuations.
It provides a sense of identity and belonging
In social situations, one of the most common questions asked when people want to get to know you is ‘what do you do’, showing that being employed can lie closely to your identity. Your job can also often relate to your interests and/or hobbies, helping to form a part of your identity and give you a sense of belonging.
It can act as an intellectual challenge
Whether you’re working in an industry you’ve worked in for a long time or starting a new one, being employed gives you opportunities to constantly improve and build new skills professionally and personally.
The skills you learn while working can enrich various aspects of your life, helping to improve your overall mental and physical health and wellbeing. The interactions you have with people of varying ages and backgrounds while at work will allow you to learn from different perspectives and develop new relationships.
You’ll meet new people and build relationships
Building professional relationships can give you the opportunity to expand your network and lead to more future opportunities. Professional friendships can also turn into personal friendships, helping you develop your personal relationships outside of work as well.
It can provide a work-life balance
When you’re employed you will get paid holiday leave, meaning taking some time off won’t reduce how much you're paid. Having the opportunity to learn new skills while at work and then spending your time off with friends and family, or going on holiday will help you achieve a better work-life balance. After all it’s good to be employed but you don’t want to spend all your time working and not doing any of the things you love.
Health benefits
Being employed means you may get access to various health benefits, depending on what your employer provides. Health benefits could include:
Private medical care
Dental cover
Eyecare cover
You’ll be provided with a workplace pension
When you’re employed it’s a legal requirement for employers to enrol you into their pension scheme. These pension schemes involve both the employer and employee making contributions with the Government boosting them through tax relief.
However, if you don’t want to contribute to your pension then you will need to inform your employer that you want to opt out.
