![]() Organizations really leaned on employees throughout the disruption. ![]() The challenges of the pandemic changed how people viewed their work life balance, craving meaning and purpose in their work rather than spending their lives working for The Man. These adventurous, less permanent employees feel more job stability when they are free to move around different employers, perhaps within the gig economy, and building portfolio careers. The last thing they want are stable jobs for life that curtail their zest for experience and adventure. It no longer means ‘with the same company’, it means a vocation that changes and develops, often with multiple employers, periods of freelancing or contract work, and maybe even one’s own business.įor many Baby Boomers and Generation X workers, the traditional definition of job stability with one employer was an important feature of their career, whereas Millennials and Gen Z want to develop, learn, grow and move around. But, the definition of ‘job’ is evolving. It’s defined as the length of time an employee stays in their current job without any disruption. But job security is very much focused on the present, without giving much consideration to future career growth and skills development. Job security versus job stability Job securityĪs we’ve seen, job security means that an employee is not going to lose that job anytime soon. A lack of job security results in employees being destabilized. Job security and a decent salary is what pays rent or mortgage, puts food on the table, covers healthcare, and supports children as they grow up. ![]() Our 2023 EX Trends Report found that only just over half (57%) of survey respondents are satisfied with their current pay and benefits, and that satisfaction has dropped 10 points since last year. More than anything, people want to know that the organization they’re working for will continue to be successful in the future, and pay them a competitive salary. Many employees are starting to question the security of the organizations where they work, and whether these have the necessary integrity and structure to survive the current turbulent economic period. Increasingly, it’s not just about employee job security, but also about the security of employers as well.Īs the global markets and economic climates become more volatile, job security and financial certainty have unsurprisingly shot to the top of the priority list for employees. While this traditional definition of job security focused solely on employees, the definition has evolved into 2023 and beyond. According to the traditional definition, ‘If someone has job security, it means that they’re unlikely to lose their job, or their role is unlikely to become obsolete in the near future.’
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