Job security is a phrase associated with the job sector for its ability to retain employment in times of economic downturn. A person with this type of security can withstand economic fluctuations and may not be worried about getting fired. Still, someone without it may feel a much greater level of anxiety in regard to the stability of their work.
Job security is one of the most important aspects a person can have when looking for employment.
When an employer knows that they have found someone who values stability, they are more likely to invest in them and reward them with a full-time position.
Many people often associate job security with the idea that their employer will take care of them, but this is not always the case.
In order to ensure lifelong job security, it’s best to invest in yourself and make your skills marketable, so even if you were let go for reasons outside of your control, such as company downsizing or loss of funding from an external source, you would still stand a chance at securing employment elsewhere.
The Importance of Job Security In The Workplace
The importance of job security in a workplace includes the following:
Knowing your success depends on your work
Job security means knowing that your work is never solely up to the whims of your employer. If you trust in yourself and your abilities, then you can always rely on a job and success that doesn’t depend on being lucky enough to find employment.
Feeling confident in what you do
Knowing that you are able to provide for yourself through your work helps improve one’s confidence in yourself, your abilities, and your work itself. Without a stable job, some may be hesitant about what they are doing or if it is worthwhile. It should help them feel more secure about themselves so they can focus more on the tasks at hand rather than struggling with the uncertainty of where their next paycheck will come from.
Attracting good employees
This is your reward as a business owner. If you have employees, then you are enabling them to take care of themselves and their families. If they like the job and their employers, they will be more likely to stay and treat it more as a career choice rather than going into other businesses.
Money is the motive.
Also, if an employee knows they stand to make a lot of money, they will want to stay on staff so that they can continue making money for themselves.
Motivation:
If you have job security, you know that your work is being taken care of by someone who shares a similar vision for the company’s success. This helps you achieve your goals because you are working toward a common goal with the knowledge that you have support.
Trust:
If a company has employees who feel secure and satisfied with their jobs, they will be more willing to trust their employer to do what is right for both their co-workers and the business as a whole. They will also be more inclined to trust each other and not feel as if any one individual is left behind after everyone else has advanced. This helps build loyalty and trust among the staff, which can be extremely important when it comes time for promotions, raises, or giving bonuses to employees.
Minimizing turnover costs:
This helps minimize a company’s turnover costs. This can help the organization focus more on its customers and growth than worrying about how to deal with a high turnover rate.
Cost savings:
Having employees who are interested in staying long-term may help businesses save on hiring and training costs, which can add up over time.
Job security makes employees happy.
A happy employee is a productive employee. If you offer job security, you will allow your staff to feel at ease at work, making them more willing to commit themselves fully to their work without feeling as if they need to be prepared for an abrupt departure from the company or position they hold.
Getting rid of bad employees
When you have a negative turnover, if you do send someone to new employment, it is not certain that you will be able to replace them with the same quality. As such, it becomes necessary for the employer to distinguish and evaluate the potential candidates before allowing them on staff. This way, you will know what to expect from the new hire before hiring them, which can mean that there is less chance of a mistake.
Increases productivity:
Most employees are unable to excel if they are constantly worried about losing their job or being fired from their position with your company. This can negatively impact their performance at work by making them feel as if they are responsible for every loss in sales or income. This can make them worry about everything they do. When they don’t feel motivated by their work and are always worrying, they will tend to get distracted easily and so will not produce as much as a more motivated employee who is not afraid of being fired or losing their job.
Mandatory turnover rate:
Now with all of this said, there is one more thing that you should be aware of that can have an impact on your business’s turnover rate. This depends on the overall job market in your area, as this will determine how many employees you will be able to attract for your available jobs and positions with your company.
Conclusion
It is important to understand the general trend in employment patterns and how economic changes have affected the industries in which certain occupations have historically been employed. There have been major changes. The cyclical nature of employment has impacted a number of ways, with major impacts on company productivity and morale among employees. For example, a survey by the Harvard Business Review found that 40% of American workers are disengaged from their work at one time or another, with more than half of them experiencing these feelings for an entire year or longer. In addition, new technologies such as artificial intelligence are having a profound effect on job security for those working in different sectors.
Frequently Asked Questions
What is the meaning of a security job?
A Security Officer is a professional who watches over surveillance cameras, guards the inside and outside of buildings, and ensures people and valuables on the property are safe and out of harm’s way.
How do you ensure job security?
The perception of job security is made up of a number of elements, these 5 will help you get a great jump-start in your efforts.
Create Regular Advancement Opportunities. …
Offer Meaningful Employee Recognition. …
Increase Training Opportunities. …
Have Policies to Protect Workers in Case of Disability.
What are examples of work security?
Some examples of a typical workplace security policy might include mandatory password changing, unique WiFI codes, or going badgeless to secure workplace access as people return to work.
What is job security in organization?
Job security: Job security is defined as the assurance in an employee’s job continuity due to the general economic conditions in the country (James, 2012). It is concerned with the possibility or probability of an individual keeping his/her job (Adebayo and Lucky, 2012).
What is job satisfaction and job security?
This simply means that the more the employees are satisfied with the security of their jobs, the more they are committed to their organizations, and the better their performance is in their jobs.
References
- Emerald.com – Satisfaction with job security
- Indeed.com – what is job security?
- Indeed.com – The Importance of Job Security in a Workplace
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