Job security is ranked among the top contributors to job satisfaction. It is the assurance that you will keep your job without the worry of becoming unemployed despite the internal and external forces that might affect the business. For employees, Job security is significant as it is a great motivator to perform their best. Without the constant worry of their future in the company, employees are able to relax and focus their energy on something more productive. Job security is equally essential to employers. It can help them:
- Boost the reputation and image of the organisation
- Attract and retain the best talent giving them a competitive advantage
- Enhance productivity
- Encourage employee loyalty
- Boost employees Morale
Job security in the modern market is slowly becoming a mirage. Companies are finding themselves in murky waters where disruptive changes are happening faster than before. With factors like Gig-economy adoption, the modern workforce comprising of millennials and Generation Zs prefer short-term, remote, and on their own terms kind of contracts. Independent contractors such as freelancers and permalancers are best suited for these kinds of roles as opposed to individuals who prefer long term stability. Technological advancement has also been a threat to job security. The adaptation of new and advanced technology has rendered many employees jobless or with a need to upskill to remain relevant. Other factors that have been a threat to job security are; Globalization, Mergers and acquisition, Lack of business due to scarring economy, change of management, and most recently a global pandemic.
One thing the global COVID-19 has reminded us is how businesses especially those in the private sector are receptive to disruptive changes. The shutting down of some sectors of the economy means a large number of workers have been unable to work. A career paradigm shift is needed as the disruptions will keep on occurring. Consider whether you want to keep riding shotgun or you want to put your hands on the steering wheel when it comes to your career. Being in charge means working towards career security as opposed to job security. Job security is not guaranteed in the times we are living in. Your job is as secure as your notice period. Go through your current contract and look up the notice period. That is the only assured security as far as job security is concerned. Currently, many employees worldwide are insecure about their jobs. The uncertainty and doubt are affecting their productivity and most importantly their mental health.
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Career security on the other hand gives you the ability to perform in your profession regardless of the job you have today. It defines your journey and gives you a competitive edge in your profession. The beauty of career security is that it is not pegged on the economic situation or an employer. It is deeply embedded in an individual’s personal brand. Working for a career leads to a more secure future due to the ability to perform in your career without necessarily having to rely on one specific job. The benefits of chasing career security are that individuals are able to be fully present and dedicated to what they do, focus on solutions, are reliable, and more productive due to the career targets they set on themselves.
So, how can you achieve career security? By investing in yourself to position yourself for future impact. Position yourself strategically in a bid to take over the industry and to be noticed by decision-makers. Consider personal development through upskilling, professional body certification, online learning, mentorship, and collaboration with others in the industry. Be ambitious and be flexible and I can assure you with the next disruptive wave, there will be no job security worries. Instead, you will be overwhelmed providing solutions to the problems the wave creates.