Why Job Security is So Important

 Job Security

 


In a word, job security is the confidence that a person will be able to keep their employment in the near future with minimum outside pressures.

In most cases, a company can provide stronger job security to its employees during periods of economic boom, and vice versa;  job security is usually poorer during times of recession. Job security varies by industry and niche: occupations in law enforcement and health care are often more 'secure' than jobs in the private sector.

Some of the most important elements affecting employee job security in an organization are listed below:

 

  • Economic conditions as briefly discussed above
  • Business conditions. If the business is booming, then it can keep more employees
  • Local legislation regulating labor termination. Some places allow more painless termination than others, which might affect job security
  • Individual factors of the employee from performance, education, work location, experience, and so on
  • Labor organizations (union)
  • How important/valuable the employee's skills and experience are to the company

 Importance of Job Security

  •  Job security is obviously important for any employee, but it is also equally critical for the employer.
  •  For an employee, job stability equates to financial security, which translates to less stress. A worried individual will be less productive at work and may have long-term consequences such as depression.
  •  For example, proven job security would result in lower staff turnover, lowering hiring expenses and improving total corporate growth.
  • We'll go through the benefits (and downsides) of establishing job security in your company further below.

 Advantages of Employee Job Security

  • Employees who commit to a long-term role in order to progress their careers will have more job security. Employees who make long-term career commitments have a better chance of achieving their goals than those who are constantly worried about losing their jobs.
  • Job security is often associated with a more relaxed work environment.
  • Employee engagement improves when their jobs are secure. Employee satisfaction leads to a lower likelihood of turnover.
  •  An employee's efficiency and productivity will improve if they have a secure job.
  •  Recruitment can be costly, and it takes a lot of time and effort. Employee turnover will be minimized as a result of job security, reducing the need for recruitment.
  •  Employee job security can boost the bottom line of an organization's financial statement, owing to lower recruitment costs.
  •  Job stability improves the organization's reputation and image as well. Many clients prefer to work with companies that care about their employees.

 Disadvantages of Employee Job Security

  •  When an employee feels secure, they may lose the desire to develop themselves, which can be detrimental to their productivity and efficiency. Poor performance, missing deadlines, and poor overall results can all arise from this.
  •  Employees may rely on predetermined workloads and see no reason to be inventive.
  •  Job security can lead to boredom, and if it lasts too long, it can make an employee feel useless and miserable.
References

Gholamreza, J., Mokhles, A. and Bahrami, H., 2011. The impact of job security on employees commitment and job satisfaction in Qom municipalities. African Journal of Business Management, 5(16), pp.6853-6858.

Comments

  1. ChathuraDMay 6, 2022 at 6:36 PM

    As clearly emphasized in this article job security increases employee engagement and less turnover.Employees who are insecure about their job are more likely to be disengaged in the workplace. But when employees feel secure, safe, and valued, employee engagement increases. An engaged workforce has a positive ripple effect.

    ReplyDelete
  2. Venushka BandaranayakeMay 7, 2022 at 2:11 AM

    Job security is defined as having a job that you know you won't lose any time soon, and for some people, that peace of mind is worth more than money. Therefore job security is really important for an employee to perform well. Good Job.

    ReplyDelete
  3. Nishantha RathnayakeMay 7, 2022 at 3:37 AM

    Employees who feel safe in their jobs are less likely to be fired, laid off, or terminated. Job security reduces risk and anxiety. As a result, job stability is very important for an employee to work properly. Good article

    ReplyDelete
  4. Suranga Senarathne - MBA May 7, 2022 at 5:25 AM

    Employee engagement rises when employees feel comfortable, safe, and respected.
    A motivated staff has a good impact.
    Well written, good luck.

    ReplyDelete
  5. Dilini MBAMay 7, 2022 at 7:22 AM

    As discussed, job security will increase employee engagement and commitment. Employees are more relaxed and happy to work when they know that their job is secure. This will in turn increase productivity, reduce absenteeism and reduce turnover.

    ReplyDelete
  6. Amila KarunarathnaMay 7, 2022 at 9:56 AM

    As menioned, Job Security to employees can help companies increase retention, attract top talent , and create a positive work environment that brings out employees’ best performance. Good blog

    ReplyDelete
  7. Amila PereraMay 7, 2022 at 8:20 PM

    In brief job security is a guarantee which an employee is able to keep his job in the predictable future with minimum influence from other factors. As you have discussed job security is important for both employees and employers. Job security increases employee engagement, and reduces employee retention. But when an employee feels secure about his job, he may sometimes lose the eagerness for new creations and productivity. Excellent article

    ReplyDelete
  8. Asela ThennakoonMay 8, 2022 at 4:07 AM

    Employment security is defined as the assumption that one will maintain one's job. This is merely a possibility that can be viewed as well as genuine. Employees value the stability that comes with a consistent employment and the associated compensation. This article focus on importance of job security. Good effort Suresh.

    ReplyDelete

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