Job Security: The Benefits for Employees and Employers

One of the greatest deal-breakers for people seeking new job roles is security. Many will often weigh their choices on the potential of a job to sustain them in the long-term and neglect jobs without it. It’s even more important now that making enough money while still being able to save for emergencies tops the list of financial concerns for most people.

How can employers and employees contribute to improving job security? In this article, we explore job security definition, why it’s important, and ways employees can improve their sense of security on the job.

What does job security mean?

It is the perceived ability of employees to be able to retain their jobs for as long as they can foresee. It is also the sense of confidence that employees have knowing that they will still have a stable job in the event of an economic crisis.

Why is job security important to managers and employees?

Here’s why everyone must prioritize job security.

Effectiveness and job satisfaction:

Employees who feel secure on the job will have a sense of job stability and effectively contribute to the organization’s growth. Job security is important for employees to have a sense of job satisfaction, and the right mental stability to keep their jobs. Where workers are effective and mentally stable to do their jobs, managers can rest assured of quality work and attaining organizational objectives faster.

Improved engagement on the job:

A study reveals that employees who have the support of their supervisors will actively engage with the organizational objectives. This is because they feel valued and can picture themselves in the company’s future. Managers are likely to face difficulty engaging employees when they feel insecure and are likely to hit a brick wall with them. Such employees will only do the barest minimum on the job while it lasts.

Job security and job stability; key differences

While both terms seem interchangeable, job or career stability involves the length of time an employee can maintain their job role without having to switch to a new one or seek new employment opportunities. However, even this is evolving as employees are now seeking flexible and mobile job opportunities that allow them to provide their skills across multiple jobs.

On the other hand, job security is an employee’s sense of confidence to take a job knowing that they won’t be waking up without it someday. The reason why job stability is important for most people is because the sense of job insecurity is negatively impacting people’s mental health.

Examples of secure careers

Some careers often have a level of career security attached to them, mostly due to their uniqueness. People in these roles are likely to still have their jobs despite economic instability and financial meltdowns because of the critical nature of the services they offer. Such jobs include:

• Lawyers
• Physician assistants
• Physicians
• Librarians
• Emergency officers
• IT managers
• Veterinarian
• Court clerks

Taking a Less Secure Job; When is it Okay?

Every employee wants to be certain that they’d always have their jobs to meet their bills for as long as they want to. There are times when less secure jobs might be the perfect option to go with. You may want to work with a coach to guide you on when to do so as it pertains to your unique situation. Some instances when it’s okay to consider a less secure job include:

• When you’re not sure about your career choice and you’re yet to determine what to do next.
• Situations when you just need a job to make ends meet.
• When you’re certain to relocate and need to work on a transitionary job.
• Need funds to acquire more education or skill required for more secure roles.
• Awaiting a more secure offer you already applied for.

How managers can improve employee job security

Most employees want to be sure that they’re not being “used” in the meantime to be dropped later. While this may not be the intention in many organizations, some actions and workplace culture can make employees feel less valued and insecure in their job roles. Here are a few ways managers can bridge the gap.

Prioritize employee welfare:

Companies that have a strong culture for prioritizing employee welfare are likely to earn the trust of their employees and gain a sense of job security. Others who consider the job primary to employee welfare will likely lose talents who seek more secure job roles. Basics like health, family bonding, and personal development opportunities for employees go a long way in ensuring job security.

Encourage healthy cohesion:

When building teams, managers must ensure a healthy balance of strengths and weaknesses, such that interdependence is encouraged in the workflow. Collaborating on projects can get employees to work towards the project in the long term and instill a sense of job security. Great thing is, they’ll always seek ways to achieve more on new projects.

Give employees a sense of belonging:

Managers who give their employees a sense of belonging are likely to feel safer on the job. Knowing that they are an integral aspect of the company’s operation, and seeing the organization involve them in strategic planning, and other employee-focused objectives can make all the difference in ensuring job security.

Invest in coaching for professional and personal development:

Your employees are top company assets and it’s best to invest in them so they keep getting better on the job. When you commit to their personal and professional development, they consider themselves valued and have a sense of security. It becomes obvious to them that the organization is committing resources to their growth and this makes them willing to go all the way.

How employees can improve their job security

Different metrics are used to determine an employee’s job performance, and the results can weigh heavily on an employee’s job. Ineffectiveness in an employee’s performance can lead to job insecurity and the management may be forced to let them go. To enhance your job security as an employee, here’s what you should know.

Contribute your ideas where necessary:

An employee who provides relevant ideas is likely to have an edge over one who doesn’t and never seems to have an idea of what to say. Always look for ways to proffer solutions to a challenge the organization may be facing as it pertains to your role and area of expertise.

Be valuable and reliable:

Don’t just be the employee that works for the bucks. Familiarize yourself with the objectives of the company and seeks ways to bring value onboard. This might require you to take initiative on doing tasks, create plans, etc. before it is requested. Be willing to go all the way without compromising on your time off work.

Build capacity and stay-up-to-date with your career trends:

Employees must be willing to evolve as career trends evolve to ensure effectiveness in their job roles. Updating your knowledge and skills on the job will make you highly indispensable and increase your chances of being retained for the long term. Employees who are out of touch with their career changes are likely to be replaced with new employees with more current skills, no matter how great their personalities may seem.

Work with a coach:

It’s easier to improve your chances of job security when you work with a personal coach who helps you to discover your strength and weaknesses. With the coach’s help, you discover ways to harness your strength for better job performance. Also, you discover ways to improve on your weaknesses so it doesn’t hamper your job productivity. The impact of working with a coach is multidimensional and it could yield ripple effects that could make you the one talent the company never wants to let go of.

Important boundaries to identify over job security

Despite an employee’s need to stay on the job and advance in their careers, certain boundaries are important to put in place. Employees and employers alike need to realize when pursuing job security becomes toxic. Employers must realize that employees are first humans before they’re employees—they have lives to live, families to attend to and personal goals and aspirations to attain. None of this should be put on the line in a bid to ensure job security. It could result in mental stress, burn out and depression leading to low job productivity.

Employees who are seeking job security shouldn’t also sacrifice their sense of purpose and other important things yielding to toxic working standards. You must be able to identify when job demands become toxic or when you’re overworking just to make an impression on the management.

Living without job security? Here’s what to do

No one likes to deal with the challenges of job insecurity as it could impact one’s mental health negatively. Here are a few things you could do to cope.

• Prioritize your mental well-being, you need to be stable to find a secure job
• Work with a coach to help identify strengths that may be useful in a different role
• Seek ways to manage your finances so you’re not caught unaware
• Keep a circle of positive people who encourage you not to give up on your search

Final words…

There are enormous benefits of job security to both employees and employees. It ensures that resources are put together for the common good and helps to keep productivity levels high. Where job insecurity becomes a challenge, coaching can help to discover the missing link and yield massive results.