Employment security







Employment security is the protection of workers of their jobs. To make sure they are stable with their job and not losing their jobs. As per International Labour Organization (ILO) Employment, security is about the protection of workers against fluctuations in earned income as a result of job loss.

When we compare the public sector and the private sector, public sector jobs are more secure than the private sector.

 Employment security can be assessed at three levels (Dasgupta, 2001).

1.       National or Macro Level

2.       Enterprise Level

3.       Individual or Micro Level 

Why is job security important for employers?

-          A stable job increases employee retention.

-          Attract top talented workers.

-          Increase employees’ best performance.

-          Replacement costs can be reduced.

 As per an article published by (Stebbins, 2019) it was stated that “According to a recent Gallup poll, 18% of American workers are worried about losing their job – down from a peak of 31% in 2009 in the wake of the Great Recession. American workers have good reason to feel secure. The economy has added jobs for the last 100 consecutive months, and the unemployment rate recently hit its lowest point since the 1960s.” Thus, it is important to make the employees feel secure in their job roles.

How should employees secure their employment (Greenwood, 2021)?

-          Manage attendance: It means to report to work on time and work extended hours based on the business needs.

-          Doing extra assignments: Positively accepting extra work and fulfilling to the best of the ability.

-          Leave personal problems: It is important to manage a balance between work and personal issues, while at work.

-          Target achievements: Meet the deadlines given.

-          Do not complain: Positively accept all challenges.

-          Understand the Business: Should be able to understand the business needs and caters to them in a timely manner.

-          Learn: Acquire new skills continuously so that it will help to improve performance.

-          Flexible: Manage new requirements and conditions.

-          Discussion: Always be open for discussions on performance and weaknesses that need to be improved.

 The prevailing laws and regulations in a country also determine the level of job security. As an example, the below chart (O'Neill, 2021) shows how unemployment has dropped in Sri Lanka. In 2020 Sri Lanka’s unemployment rate has been approximately 4.18%, which reflects that, since 1999, the laws had been in favor to protect our workforce, in their respective employments.

 



 

 





Due to the COVID-19 pandemic situation, many employers were compelled to make drastic decisions on the number of workers in their companies in order to keep the costs low and survive in the market. Still, the issue remains the same and all employees and employers are facing the same problem with more difficulties during this global crisis, raising great concerns over employment security. Sadly, it is very unlikely that this would be reduced in 2021 given the current circumstances across the world, in this pandemic situation.

   

References

Dasgupta, S., 2001. Employment Security: Conceptual and Statistical Issues. Issue 1, p. 27.

Greenwood, R., 2021. Ivy Exec. [Online]
Available at: https://www.ivyexec.com/career-advice/2012/career-advice-13-steps-to-help-secure-your-job/
[Accessed 26 April 2021].

O'Neill, A., 2021. Statista. [Online]
Available at: https://www.statista.com/statistics/728520/unemployment-rate-in-sri-lanka/
[Accessed 26 April 2021].

Stebbins, S., 2019. USA Today. [Online]
Available at: https://www.usatoday.com/story/money/2019/07/23/jobs-with-the-best-and-worst-job-security-based-on-unemployment/39794297/
[Accessed 26 April 2021].

 

 

Comments

  1. Hansika SamarakoonMay 1, 2021 at 4:38 AM

    Job security is an assurance that you have your job in the foreseeable future irrespective of outside factors. so many advantages of job security. i.e. Job security is often equated with security as well as career advancement, Employees who settle down in a long-term position have a better chance of achieving their career goals than those who are in constant fear of losing the job, If an employee is assured of job security, he will not worry about his financial situation nor his debts and bills, Job security results in a relaxed atmosphere in the workplace, It results in some of the best work by the employees, When an employee has job security, it is easy for him to save for his life after retirement, Job security results in employee engagement. (Sources - https://www.marketing91.com/job-security/)

    ReplyDelete
  2. HR ZONE JINODAMay 3, 2021 at 1:09 AM

    I like to add Pros & Cons related to Job security .
    The advantages of job security are as follows-
    • Employees who settle down in a long-term position have a better chance of achieving their
    career goals than those who are in constant fear of losing the job.
    • If an employee is assured of job security, he will not worry about his financial situation nor his
    debts and bills.
    • Job security results in a relaxed atmosphere in the workplace
    • It results in some of the best work by the employees.
    • Job security results in employee engagement
    • Employees are satisfied when they are secured in the job, and this leads to a reduced chance of employee turnover.
    • Job security encourages a strong sense of corporate culture.
    • A secured job no doubt improves efficiency level and productivity.
    • Job advancement is easier when an employee is in a secured job.
    • Job security means a happy and healthy work-life where the employee looks forward to going
    to work.
    The disadvantages of job security are as follows-
    • When an employee becomes secure in his job, he starts losing the hunger and zeal which he had
    earlier. This can affect his efficiency and productivity levels.
    • Missed targets, poor performances and bad results are a common scenario in cases where the
    employee believes his job is secure
    • Job security leads to complacency and instead of hunting for new challenges the employees
    start relying on assigned workloads.
    • Employees who are secured in their job are unable to reach full potential because they lose their
    curiosity and passion for work.
    • When the employee knows that his job is secured, he does not try to learn new skills and move
    with time by increasing his knowledge.
    • The downside of job security is that it is often equated with boredom and in later stages
    depression because the employee after a certain period ends up feeling useless and depressed.

    ReplyDelete
  3. Tania De MelloMay 5, 2021 at 7:29 AM

    Establishing and maintaining employee job security is essentially about the company admitting that it will only be as good as the structure management has implemented. This is why good job security and stability are going to improve workplace success in the long run.

    While the modern gig economy and remote working may make it seem like physical relationships and permanent job security are the things of the past, they are much more critical than ever before. By providing your employees the stability to continue working with you, you can improve their productivity while reducing your organization's costs.

    ReplyDelete
  4. Maduka Udagama May 5, 2021 at 1:26 PM

    Good topic.Job security is the assurance that a person can keep on their job.Some critical facts affecting the job security are as below,
    1.Economic conditions
    2.Business conditions
    3.Local legislation
    4.Individual factors
    5.Labour organizations
    6.Employee skills.

    ReplyDelete
  5. Ranjana BandaraMay 7, 2021 at 2:50 AM

    job Security is the presumption or confidence of an employee that he will not loose his current job he is holding to. High level job security indicates that the employees will not loose their jobs in the near future. Job security is more of a perception

    ReplyDelete

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