Importance of Job Security
The importance of job security cannot be overemphasized, particularly when an individual has significant financial obligations and is responsible for taking care of family members who cannot generate income for themselves due to their age, health, lack of skills or economic factors.
- Particularly in dire financial times, the importance of job security is at the forefront of many discussions. In times of economic prosperity, we might be concerned with job security, but find comfort in the knowledge that jobs are plentiful. In a tough labor market job security can be an elusive concept.
- Job security is important for those with bills to pay. A mortgage or rent, groceries and utility bills are among the basic expenses. Unless there are large savings, investment income, alimony or government assistance, employment income is needed to survive financially.
- Strategies for increasing the chances of job security include displaying a strong work ethic, demonstrating productivity and assisting businesses and organizations to meet their goals. Becoming indispensable to an employer is one strategy for feeling secure in a job. In this case, an employee may be highly skilled or knowledgeable and feel secure in the value brought to the organization.
- In struggling economies, great work is not a guarantee of job security. The notion that someone is replaceable can be easily refuted by virtue of the large number of unemployed yet highly skilled workers who may be willing to take on a position at a lower salary to secure employment. In tough economies, job security becomes more a matter of income security and finding ways to stay financially afloat through alternate income streams until the another job is secured.