The number of startup companies has grown over the past two years. Therefore, the rise in startups increases job opportunities.
On top of that, startup companies have exciting concepts. It makes startup a mandatory choice for every job seeker.
Working at a startup is different from the usual company. Hence, you need to understand those differences to decide whether it’s the right fit for you.
In this article, we will find out the pros and cons of working for a startup.
The Pros Of Working At A Startup
Working for startup companies can be a unique experience, but it’s not about an enjoyable workplace.
Therefore here are the pros to working for a startup for those who want to join.
More Opportunities To Learn
One of the advantages of working in a startup company is the vast learning opportunities. Usually, startups hire their employees based on a certain skill set.
However, it always ends up giving its employees extra responsibility. People who work at startups tend to wear many different hats, and often it’s outside the work job description.
Even so, you don’t have to worry. In a startup company, the founders and employees usually work together.
There’s no middle management, so you’ll be able to ask them questions and learn from their experiences.
It can be a significant benefit, especially for new professionals. You will learn things you probably wouldn’t be exposed to in an established company.
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Many startup companies offer their employees work flexibility and allow them to work from home.
It promotes an independent and autonomous workforce that wants to juggle home responsibilities with work.
For this reason, flexibility is key to improving creativity and innovation in the organisation.
For instance, if you tend to be most creative at night, your employer will likely be willing to facilitate this.
Being in charge of your work schedule means you are always in your best working mindset. Hence, this is the best benefit for job seekers and professionals.
Increased Job Satisfaction
Job satisfaction comes from a sense of accomplishment. In this case, employees who work at a startup experience more job satisfaction.
They are always involved in the growth and evolution of the company. For this reason, every contribution to the company matters.
Your voice, opinions, ideas, and contributions are always acknowledged and valued.
Therefore, knowing that you are actively contributing with successful ideas to a company’s success is a great feeling.
Moreover, it can help the company in lost revenue.
Money isn’t always the main thing, but there are plenty of other benefits that keep employees happy.
Thus, startup companies need to be creative when considering their employee benefits. Here are the common benefits offered by startups include:
-Flexible hours and work-from-home options
-Free drinks and food at work
-Employee discounts and free services
-Free gym memberships
If the business thrives, the company can give long-term benefits such as sharing an employee stock.
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The Cons Of Working At A Startup
While there are some benefits of working at a startup, there are also disadvantages you should be aware of before deciding to join. We list some of the main ones below.
Unsure Job Security
A lack of job security is one of the contrasts of working at a startup. Not all startups fly high. It’s a fact that most companies do not last less than five years.
According to data from the Bureau of Labor Statistics, only 50% of startups past the first five years of business.
In this case, most startups fail due to either cash flow problems or attempting to scale up their business too quickly. As a result, it causes firms to collapse.
Therefore, if you insist on joining a startup company, you need to look for a company that has secured funding. You can find it out during the interview session.
Ask the recruiter about their five-year plan for the business, including specific growth targets and goals for their company.
If they can’t give you a concrete answer, they probably don’t know the answers themselves.
While this doesn’t have to be a non-starter in your decision, it’s essential to be realistic and aware that this career opportunity may not work in your favor.
Long Work Hours
One of the disadvantages of working at some startups is that there is less work-life balance. Startups are filled with passionate people to make their service come to life.
However, some startups let their employees be busy with office life. So, they can elaborate on their experience.
Hence, when you work with a professional, you will realize that time does not exist. Although the company provides flexibility, you are still required to work for long hours.
You might be asked to put some data initially. But as the deadline comes closer, your responsibility will rise.
As a result, you would probably be spending more time at work than usual.
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Working at a startup isn’t for everyone. However, working at a startup can be a fantastic experience.
Working at a startup goes beyond just eating free food and wearing a hoodie. No matter what you decide, joining a startup company has pros and cons.
Hence, before accepting the offer, make sure to do some thorough research. Hopefully, you’ll find all the information you need.
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