Today’s generation is often depicted in Indian pop culture as spontaneous, irrational, and impulsive when we all know that reality is not the same. We love our fair share of stability, we don’t decide to go on vacations in the nick of time, and we plan for a Goa trip with friends ( the still ends up getting cancelled) so strictly that Monica from FRIENDS may feel ashamed.
And when it is the matter of our career, job security is what we all crave. Today, being unemployed in a dipping economy is one’s most dreaded nightmare. But the question lies that despite Job Security being such an essential factor in our professional lives, do we know enough about it? Well, don’t worry because we’ve got you covered.
What Is Job Security?
In simple terms, Job Security is knowing that one’s job is relatively permanent and not very prone to being fired. In addition to that, it also involves an element of a safe work environment. Job security keeps you from overthinking, something we all do before going to bed. When you are assured that you won’t be let off from your job tomorrow, you can sleep like a baby and wake up as fresh as the sea.
This not only increases your productivity but also improves your mental health. Hence, in short, it is a win-win situation for all employees!
Factors Affecting Job Security
The road to job security is not at all a straight one. And it is not a piece of cake. So it is crucial to know what factors can affect the job security of an employee.
The Working Sector
Some companies, in general, have a significant turnover rate and menial job security, while the others present a lot more safety. Government jobs, in general, are far more secured and hence attract a large mass of the public. Such high levels of job security are because government sectors have truckloads of tangible and substantial policies that often assure the minor loss of jobs.
On the flip side, the start-up sector comes with its share of risk. Jobs in this sector are less secure because the threat statistically, the success rate of startups turning into lucrative businesses is relatively low.
It is imperative to develop a particularly unique or vital skill set that makes your position in the company you work in safe from budging. Not only that, having special expertise at your disposal can strengthen your position to the extent of creating better salaries for you.
College degrees, diploma courses, online workshops, and expert studies in the target field can boost your career beyond imagination.
A healthy attitude, correct work virtues, the willingness to take the extra step, loyalty, dedication and honesty in your job can all prove to be anchoring factors for your position at your workspace. It is essential to be balanced and deliver everything that is required of you on time. In times of a curtailing of work staff, these qualities can turn in your favour.
How Managers Can Provide Job Stability
Focus on Every Employee’s Uniqueness and Individuality
When you ask the mirror on the wall, “who is the most talented of them all?” and you hear – “ All have unique talents waiting to be explored”, then you are on the right track. When you boost your employees’ confidence and make them work in the direction of their utmost calibre, it will make their place invincible.
Don’t hesitate to appreciate
Public appreciation for your workers can go a long way in making them build a trust factor with you, which will increase the permanence of their job.
Keep raising the bar
Keep pushing the professional boundaries of your employee by giving them various responsibilities and challenges. This gives them a sense of freedom and makes them explore their capabilities to the fullest. Doing this will make them feel safe and valued in the job, hence increasing security.
Why is Job Security Important to Employees?
- A long-term job increases the chance of creating and accomplishing the professional goals one set for themselves.
- Financial uncertainty doesn’t plague one’s mind.
- Boosts the brand image of a company, increasing their trustability, therefore attracting more employees and clients.
- Aids in job advancement
- Improves employer-employee dynamics creating a healthy workspace.
What Are Some Disadvantages Of Job Security?
An extremely protected employee may lose the zeal to achieve more. This can affect the overall performance of the individual and company as well.
External incentives might become the only source of encouragement.
Even though job security is vital for both the company and the employee, it doesn’t mean that it can never be threatened. Change of managing personnel, unemployment, toxic work environment, globalisation, mergers, etc., can have deteriorating effects.
The modern gig economy fooled us to think that job security is not critical. Providing your employees with the professional protection they deserve is an indispensable duty that almost always comes bearing gifts.