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All You Need To Know About Job Security

All You Need To Know About Job Security

Job security is a major issue of concern amongst workers hence in this post, we will be taking a critical look at all you need to know about job security. You will definately agree that everyone wants to be able to at least secure their current job while they seek better opportunities.

What Is Job Security

In a layman’s definition, Job security is the degree to which an employee feels confident (or unconfident) about the future of their gainful employment; a high level of job security denotes a low likelihood of being laid off. Factors surrounding job security vary as it could depend on several factors like the economy, contract of employment, labor laws preventing unfair termination, collective bargaining agreement, lockouts, and layoffs.

Employees’ perceptions of job security improve during economic expansions while they deteriorate during recessions. When a worker has a significant likelihood of losing their job, job security frequently panic usually sets in. There is a widely held belief that the private sector has less job security than the public sector. Mostly with jobs in the following areas:

  • Government
  • Health
  •  Education
  • Law Enforcement

Feeling like you could lose your job creates a real fear of job insecurity which most workers don’t want. With a sense of safety from things like layoffs, economic downturns, and other potential employment-impacting variables, job security is a good thing.

Importance Of Job Security

It should go without saying that having a secure job is critical for all employees, but employers should place just as much value on job security. When a worker’s employment is secure, their income is as well, which will lead to less stress. A stressed-out worker will be less effective at work and may also have other long-term side effects, such as depression. For instance, stable job security would result in lower staff churn, which would save hiring expenses and improve overall firm growth. More benefits (and disadvantages) of implementing job security in your company will be covered below. 

Advantages And Disadvantages Of Job Security

Major advantages of establishing job security include the following:

  • Job security will translate to employees who settle down in a long-term position to advance their careers. Employees with long-term commitments in their careers tend to have a better chance of achieving their career goals than those in constant fear of losing their jobs.
  • Job security typically results in a more relaxed atmosphere in the workplace.
  • Job security results in better employee engagement. More satisfied employees lead to a reduced chance of employee turnover.
  • A secured job will improve the employee’s efficiency level and productivity.
  • Recruitment can be costly and can significantly consume time and effort. Job security will translate into a lower employee turnover, which will also mean a reduced need for recruitment.
  • Employee job security can improve the organization’s financial statement’s bottom line, mainly due to the reduced recruitment expenses.
  • Established job security also boosts the organization’s reputation and image. Many clients would prefer working with organizations that treat their employees well.

Disadvantages Of Job Security Includes:

  • When an employee becomes too secure, they might lose the hunger to improve themselves, which can be counterproductive for their productivity and efficiency levels. This can result in things like poor performances, missed deadlines, and bad overall results. 
  • Employees might rely on assigned workloads and see no incentives in being creative.
  • Job security can produce boredom, and when prolonged, it can also cause the employee to feel useless and depressed

Is Job Security Important To Employers?

Job security is crucial for both employees and employers. Listed below are ways in which job security can benefit employers:

  • Recruiting and keeping talent
  • keep your workforce productive
  • Encourage employees to be loyal
  • Maintain a cheerful work environment

Ways To Increase Job Security

Increase productivity:  Increasing your productivity is one way you may demonstrate your worth. Keep track of your progress and continuously compile a list of doable objectives. For instance, if you work in sales, you can state on your list that you want to beat your quota by 5 to 10 percent each month.

Be Reliable:  Be a resource your management knows they can turn to if they need something finished quickly. In response to a request from your management, give a reasonable timeframe by which you expect to finish the assignment. Make sure your work is consistently great and look for opportunities to go above and beyond the call of duty.

Reduce Distraction To The Barest Minimum:  Limiting distractions is the greatest method to stay concentrated on your work. Spending time online or on personal calls while at work can divert attention from more crucial tasks. Your productivity will stay high if you keep your attention solely on work-related duties, which will help to ensure the security of your employment.

Volunteer When Required:  Being the first to assist when tasks need to be accomplished will help you become indispensable to your employer. Even though it’s crucial to avoid over-committing and under-delivering, think about volunteering if the job is something you can do, even if you’ve never done it before. It’s also crucial to keep in mind that if you choose to volunteer for an additional job, you should make sure you have the time to handle it in addition to your current obligations. You must submit top-notch work if you want your management and teammates to properly recognize your efforts. Have a discussion with your manager about changing your workload to create time for the project if you genuinely want to help out but don’t feel like you have the extra time to dedicate.

Acquire Additional Skills Relevant To Your Job:  Maintaining your relevance at work also means enhancing, learning, and expanding your talents constantly. Industry requirements and technology are always evolving, and you provide value to your organization by embracing change and fast adapting. Look for a chance to gain expertise in a certain area. When faced with difficulties at work, people seek the advice of specialists. Find a field in which you can become an authority, then look for volunteer opportunities where you can put your knowledge to use.

Mentor And Support Colleagues:  Utilize your leadership abilities and mentor other employees to demonstrate to your management that you are a valuable member of the team. Seek out opportunities to respond to queries from other team members. If appropriate, get in touch with each of them separately to provide your support and advice. Make sure that everyone on your team knows they can turn to you for assistance.

Be A Solution Provider:  To more effectively find solutions to challenges, make use of your imagination and problem-solving abilities. As problems develop, identify their potential causes, then have a brainstorming session to come up with potential remedies. Once you’ve come up with a comprehensive strategy for solving the issue, present it to your boss or team leader. If your suggestion works, it will support the notion that you are an asset to the organization.

Build Relationships: This will help the management see you as a more crucial member of the team if your relationships are better and you are more linked to your team and your supervisor. Even when you work remotely, networking and interpersonal skills are crucial for developing good relationships in the business. Be sure to communicate with each team member frequently and in a clear, succinct manner. When speaking to someone, pay attention to your tone of voice, listen intently, and choose your words carefully. Wherever feasible, look for chances to participate and provide value.

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