The Myth of Job Security
One of the biggest knocks against freelancing, entrepreneurship, self-employment, contract work, and business ownership is that you don't have "job security." This is indeed true. Most people who fit into this camp don't have job security.
Implied in this "no job security" sentiment is a (false) belief people with traditional employment do have job security. I'm sad to report that they don't. I believe this is a massive and destructive myth in our culture. Every week, I speak with people who had "job security" and have recently lost their jobs. It's always sad, and I have tremendous empathy for them. I don't wish that kind of pain on anyone. But it happens! There's no such thing as job security! It may feel like it along the way, but when push comes to shove, there isn't.
Please don't hear me demeaning traditional employment. I'm a big believer in it.....just not because it seemingly offers "job security." Work has meaning. Jobs have meaning. All work has meaning....including traditional W-2 jobs (which I had for 15 years, by the way!).
Rather, I think we put ourselves at risk when we believe we have job security:
We can let our guard down and not be financially prepared for the incomprehensible scenario in which we lose our jobs. We might not have an adequate emergency fund as a back-stop.
We can get complacent and stop growing in our skills.
We don't bother to diversify our finances. Instead, we keep all our income eggs in one basket.
We don't contemplate backup plans for alternative jobs/careers.
We might ignore our passion, calling, and desire to do something different with less "job security." In other words, we let our desire for job security keep us in a place we aren't supposed to be.
Indeed, I don't have job security. There's zero promise that my family will make enough money to survive next month. That's scary! Every month is an adventure, and I just hope I can piece it together well enough to make ends meet. My business's income is made up of dozens of smaller pieces. If I put the pieces together, I eat. If I don't, then I guess we starve. But the burden is on me to figure it out.
You know what's scarier? The reality that someone else can make one simple decision and my job is gone tomorrow. A wave of the magic wand.....poof, gone! That's the reality so many people are dealing with right now. We wake up in the morning enjoying our job security, then go to bed unemployed.....at the snap of one's fingers.
I don't write this to make people fearful. I don't want that. Living in fear isn't a life of meaning. Instead, I want people to reckon with the reality there's really no such thing as job security. And if that's true, would you still make the same job decision? In other words, would you choose a different path if your job isn't secure anyway? Food for thought.