Much like everything else, Job security isn\u2019t what it used to be. Individuals hardly maintain the same job for 20-30 years anymore. Job security is defined as the probability that an individual will keep their job; a job with a high level of job security is such that a person with the job would have a small chance of becoming unemployed. In today\u2019s economic and innovative climate, you\u2019re considered a veteran if you hold a position for 10+ years.<\/p>\n\n\n\n
The\ntypical narrative for success and job security has always begun with good\ngrades, a successful university career and a healthy respect for authority. Vocational\ntraining and career advice maintains hard work and patience are the key to a\nlong, successful career. As you have undoubtedly come to realise, the requirements\nfor job security now extend beyond these two values. Ahead of you is a long and arduous career journey\n surrounded by an unhealthy level of of\ncompetition in a very noisy marketplace. Arguably, job security no longer\nexists or economic strife has least accelerated the average career development\ntimeline and shortened job viability. <\/p>\n\n\n\n
Governments and individuals are understandably motivated to achieve higher levels of job security. Governments attempt to do this by passing laws which make it illegal to fire employees for certain reasons while individuals can influence their degree of job security by enhancing their skillset through education and experience, or by moving to a more favourable location. Unions also strongly influence job security. Jobs that traditionally have a strong union presence like as government jobs jobs in education, healthcare and public service \u00a0are considered very secure while many non-unionised private sector jobs are generally believed to offer lower job security; although this varies by industry and country.<\/p>\n\n\n\n
Basic\neconomic theory holds that during periods of economic expansion businesses\nexperience increased demand, which in turn necessitates investment in more\ncapital or labour. When businesses are experiencing growth, job confidence and\nsecurity usually increase. The opposite often holds true during a recession. Businesses\nexperience reduced demand and look to downsize their workforce. And this is\nexactly what we\u2019re currently experiencing in the wake of the COVID-19 pandemic.\nWorkers are experiencing uncertainty over job security as well as their ability\nto secure paid leave if required to self-isolate. The insecurity particularly impacts\ncasual workers who do not have the same entitlements as full time workers. <\/p>\n\n\n\n
The main idea in maintaining job security would be to make yourself invaluable \u2013 not only to your current employer, but to future employers as well. Try to learn new skills and adapt to changing markets. It\u2019s all about self-awareness. Stay positive and find helpful ways to cope with the psychological pressures of job insecurity because your willingness to adapt to change makes all the difference. \u00a0Keep an eye out for opportunities with other organisations in your industry, too. It does no harm to know what’s available, and it’s not disloyal to make contingency plans for possible shifts in your career. Be sure to keep your resume up to date so that you\u2019re always prepared to apply for new positions that may come up. And, if you can, save some money, so you don’t have to worry about paying your bills straight away if you do lose your job. That way, you can focus on the positive, not on doubt and uncertainty. <\/p>\n\n\n\n
Whereas\nif you\u2019re an employer, you\u2019ll want your company to maintain a positive reputation\nfor job security. A stellar brand as an employer will improve you bottom line, quality\nof employees available to you, your position in the marketplace and positive engagement\nfrom your workforce. Keep insecurity low by focusing on quality rather than quantity\nin your employment practices. It\u2019s important to hire people who will multiply\nthe value of your company offering so in economic downturn, almost every\nemployee is essential. This may sound idealistic \u2013 and it probably is however, minimising\n\u2018dead weight\u2019 and loss is basic economic theory for a successful outcome. Put measures\nin place to mitigate disruptions like workplace insurance, severance packages\nand financial buffers. Therefore, even if you have to make hard decisions your employer\nbrand is secure. <\/p>\n\n\n\n
Let us know in the comments what your concerns and solutions are! <\/p>\n\n\n\n
Check out: The Ultimate Guide to Re-Opening your Office during Covid-19<\/a><\/p>\n\n\n\n