Question

what are the benifit of formal sector​
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Answer 1

$\mathfrak{\huge\underline{Answer:}}$

BENEFITS OF FORMAL SECTOR :-

Security: A formal organization is more established and the entity of the company is not dependent on individual losses. So working in such a organization provides a secured financial financial support to the employees and the employees working here is more devoted to work.

Promotion is slow but steady: In a formal organization the promotion may not be rapid due to a chain of command but with certain seniority in the organization with sufficient performance a personnel is sure of a promotion.

Commissioned ranks open to men and women graduates: A formal organization will always put preference to recruit graduate or highly educated personnel I the company in a way creating job opportunities for this class of people.

Can’t be fired: After recruiting a person a formal organization tries its best to develop the personnel. In many cases the personnel is not generally fired depending on few personal mistakes.

Good retirement benefits: The organization of such value will arrange a plan for the employees so that they can retire with benefits.

Many different branches appeal to different interests: A formal organization has many different departments to perform various activates. So a person has a wide range of options from which he/she can choose depending on individual interest and skill level. So as a person there is a option in this type of organization on the choice of profession.

Social Status: A formal organization has specific position & position names that bears the status of the person in the organization. These posts are familiar in the environment the company is operating and often works as a social status symbol. By working is a formal organization the person has to way to achieve such position and thus achieving a high social activity.