In our Voice of the American Workforce survey, we've found that although all groups of people want job security in their next position, this was especially true for male workers. With millennials overtaking the workforce more and more each day, employers need to understand that stability is one of the top priorities for this generational group. This is a demographic that has seen two major economic recessions in their lifetime and ensuring the value they put in is the value they'll receive is essential.
Here, we'll explore some of the factors that contribute to job security that you can implement in your business.
What is job security?
Setting up your resume, writing a cover letter, getting references, applying for a job, going through the hiring process and finally landing a position take a lot of time and effort. It's fair to assume that most people do not take a job just because they plan on quitting or getting fired anytime soon.
In this case, job security means an employee is not worried about losing their job and subsequent income unexpectedly at any time. This phrase holds a lot of weight coming out of global company shutdowns, lay-offs and furloughs and helps to ensure that if an employee is putting in hard work and meeting expectations, they will not get laid off to keep profits high.
A lack of job security can put employees on edge, reduce company loyalty and can even lower their productivity. But what factors contribute to job security?
Improving security at work
In manufacturing, job security is a natural expectation. It's an industry people enter and work their entire adult lives doing. However, with incoming technology improvements like robotics and AI, some employees are beginning to wonder if their positions are being threatened.
Having a close relationship with their supervisor can help improve an employee's sense of job security. Offering your time to your employees, getting to know the people who run your business and showing gratitude for the individuals who make your company work can help ease job security anxiety.
Consistency can also greatly improve job security. Ensure your management personnel are setting up one-on-ones with their team members to review their performance, talk about needs and expectations, and ensure they're headed in the right direction. From these conversations, stay consistent with your feedback and reward employees who are exceeding their duties. You want to give employees goals to achieve, while ensuring that the target is not constantly being moved.
Overall, employees want consistency, to be seen and valued as human beings, and that there is a future in the business they've spent their time improving.
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