Difference of public and private sector
Malaysia is a country of 32 million, with this much of population, this country provided tons of jobs for its society based on their education, qualification and there are some of the jobs created meant for the immigrants who come to work in Malaysia. The immigrants are from Bangladesh, Manila, and Indonesia. This is because those countries are listed in the country that contain over population and they cannot provide jobs for its citizens. Glad that Malaysia provides tons of job vacancy that also opens the opportunity of its citizens and makes sure that the citizens are employed.
There are a long list of jobs in Kuala Lumpur and it is usually divided into two categories. One of them is the public sector and the other one is the private sector. Many of the citizens are confused between these two and some of them can’t even differentiate whether it is a private or public sector. There are also some people that just apply to any company without making a research about the company whether it is public or private sector.
This happened because the citizens don’t really know the difference between them. Follow this article to gain more knowledge on the difference and which gives more benefits to you before you apply for another job sheet and get ready for another interview.
The definition of public sector is a piece of the nation’s economy where the control and upkeep are in the hands of Government. It means that anything that is related to the public sectors is related to the government income and the economy and the government has full power over the organisations.
While the private sector means the the fragment of a national economy that is possessed, controlled and overseen by private people or enterprises is known as the Private Sector. The private sector organizations are partitioned based on sizes like little and medium endeavors and enormous ventures which are either secretly or traded on an open market association. They can be made in two different ways, for example either by the development of another venture or by the privatization of any Public Sector Enterprise.
The difference of Public and Private Sector
Talking about the difference, in everything we do there will always be a comparison. As for this case, the segment of a country’s economy, which is under the influence of the government, regardless of whether it is focal, state or nearby, is known as the Public Sector. The basic objective of Public Sector is Example of public sector in Malaysia is to serve the residents of the nation. The area of work under the public sector is Tentera Udara Diraja Malaysia (TUDM), Tentera Laut Diraja Malaysia (TLDM), Polis Diraja Malaysia and many more. They also raise money from the public revenue such as on the tax on things, duty and penalty. It is way different for the private sector because the area of a country’s economy, which is possessed and constrained by private people or organizations is known as the Private Sector.
The basic objective for Private Sector Companies is procuring profit. Procuring profit here means the existence of the company has zero attached or connection to any government sections and it stands for the reason of gaining profit by its own company and Sub Company for the benefits. It is also more focused on finance, information, construction and technology. Private Sector raises money from, taking loans, issuing shares and debentures.
The Benefits That You Will Get
Any place we go will always give us benefits even if it is just a small one. Different places, different things we will be given. In this case both of the sectors give a lot of benefits and the benefits that you will be getting from both are two different things.
So what are the benefits that you will be getting for working under the public sector?
First, as we all know they have better work life balance. The meaning of “better work life balance” here is where the working time of the day and week are fixed, there is no “over-time” if you enter the office around 8 or 9 and end your day at 6 in the evening the working hours are fixed to that.
As for the private sector, you will have a tendency to get an over-time weekly, some of the companies will make you stay till 10 at night but you will be getting extra pay for each hour which is also included in your monthly salary and somehow your effort of working extra hours is at least being paid.
This is one of the reasons some of the workers at the public usually packed early to make sure they go back on time because for the extra hour of them working are not getting any payment and they take that as a waste of time.
Working in the public sector gives you job security. While in private they don’t keep the worker for a long time. Job security here means once you work there you don’t have to worry about getting fired or anything means your position is fixed or you will get better promotion.
If you work in the private sector and you don’t perform in your job or rarely give any achievement for the company they will automatically give you the notice of firing you, means you always have to think of something to give to the company to make your job stable.
But we have to admit that they do provide good salary packages for the workers. Most companies give a lot to their workers. They also live in a competitive environment where each and every one of them need to compete among them to give their best to get promoted into a better position.
They actually live in a healthy competition life. Somehow the public have their own way to give back to the worker too. As the worker retires from his job they will get their own pension. The pension is half of their normal salary during their working days.
Both of the sectors give lifetime incentives to the worker even to their kids until they reach 21 years old. This has helped a lot of the workers out there surviving life even after they have stopped working. As for the basis of promotion, in public the younger workers have to wait for their time to get promoted.
This is because the public sector is using the seniority method to give any promotions they prioritised the older worker in the company first. While for the private sector, they don’t really mind who works in their company for a longer time. As long as you provide them good performance in your job you can easily get promoted into a higher position even if you are way younger and less experience in the industry but if you provide them what they need and a fast learner. But you have to bear with the pain of the work given and people will start to envy you for getting the position that most of the workers aim for but who cares if you deserve it, nothing can change that.
For the conclusion, there will always be pros and cons either working in the public sector or private sectors. Both give good experience.