Employment expert discusses the hidden costs of employment
Presently, teachers are greatly concerned about possibly losing the ability to deduct for the classroom supplies they purchase out of pocket. No matter what side of the aisle you’re on, it raises an important topic that is rarely discussed: The amount of money it costs to keep your current job.
Rob Wilson, employment trends expert and President of Employco USA, says, “There are many costs associated with working that people don’t always consider. Yet, it’s crucial to factor in these expenditures in order to ascertain if your job is worth what you are putting in.”
Here, Wilson explains some of these hidden costs.
“One of the most obvious is the cost of commuting. This includes not just gas money, but also parking, tolls, and fees associated with your car’s upkeep. Driving to and from work each day is hard on your car, especially when it comes to extreme weather and idling in traffic. In fact, sitting in stop-and-go traffic can actually be very harmful to your vehicle.”
Another important cost to consider is the money you will have to spend on clothing and grooming products. “Research shows that women have to spend much more than men when it comes to looking ‘presentable’ for work. But, along with the amount of money involved, we also have to consider a hidden factor: Time. As surveys show, most women spend a good deal more time getting ready for work in the morning. Time is our greatest resource. So, for example, when considering a position at a place like Sephora where you must wear the products and have a full face of makeup, consider whether the time involved in these daily exercises is worth the pay. Consider what else you could do with that extra 1-2 hours a day…continue your education, network, apply to more jobs, etc…”
There are also costs associated with your day-to-day job performance. Wilson says that educators who pay for classroom supplies are an example of this. “Whether it’s teachers buying supplies to help teach a hands-on experiment in class, or a financial analyst who has to buy reading materials and newspaper subscriptions in order to stay on top of the news, if you want to be a top performer in your job…you’re going to have to shell out a little cash. The trick is ensuring that your job performance will lead to improved financial growth and a higher salary for you in the future, thereby making all your extra expenses worth it.”
For more on this topic, please contact Rob Wilson at rwilson@thewilsoncompanies.com.