Although the stock market can be very volatile and scary, it can also be very rewarding. Over the years, stocks are your best bet to beat inflation. I see too many young people investing a large portion of their portfolio in very conservative investments such as money market funds, precious metals, antiques, collectibles, guaranteed investment contracts, etc. These people will get much lower returns. You can always pass this along to your children, grandchildren, or charity.
Many employers like to offer their employees stock.
Perhaps it increases company loyalty. If it's free stock they are giving you, then don't complain. However, it probably would be better to receive cash to purchase other mutual funds. The real problem here is watching your asset allocation. What percentage of your portfolio goes to stocks and bonds depends upon your age, risk tolerance, goals, and your overall prosperity.