The Benefits of Job Security & Stability for Employees

Job security generally refers to having confidence that your role with your current employer is secure and safe from layoffs or sudden firing. However, this can mean different things to different people. Some things that influence a person’s sense of security include how well their employing company is performing, how it’s projected to perform, and the overall state of the economy.

Other factors, such as confidence and consistency in company leadership and culture, can also have a considerable impact. While some degree of staffing changes are inevitable, high turnover rates don’t tend to foster feelings of security. 

Most people use the money from their jobs to live – to pay for food, housing, clothing, children, cars, insurance, healthcare, retirement funds, etc. Ideally, people prefer not to have to worry about their ability to afford these things, which would be jeopardized by being made unemployed. 

In the US, health insurance adds another layer. Most people’s health insurance and their access to healthcare and medicine for themselves and their families are tied to their jobs. As such, job insecurity may seem a direct threat to the health and well-being of employees and their families. 

Beyond just affording the basics, job security informs an individual’s future goals and economic mobility – the potential to move up in the world. A lack of job security can put a halt to your present goals and future plans. 

Psychology tells us that people feel and perform better when their basic needs are met. Job security helps employees meet their basic needs and feel confident they’ll be able to continue to do so, increasing productivity and the quality of work. 

However, there’s an old-school mindset that some degree of job insecurity motivates people to work harder out of fear and desperation to keep their position. Unsurprisingly, research has shown that there are more efficient ways to raise productivity. Researchers found that job insecurity negatively impacts innovation, creativity, and collaboration; any positive impacts on productivity are limited and insignificant. 

Job stability means that your role and responsibilities remain consistent over time – things remain stable. On the other hand, job security means you’re likely to be able to stay employed, and you don’t have to worry about being laid off or suddenly fired. Here are the main differences:

• Job security deals with feelings of safety, value, reassurance
• Stability is linked with things not changing
• Stability is not as popular in today’s job market as it used to be, as younger workers often job-hop to learn and earn more
• Security could also include confidence in one’s ability to land a new position, i.e., their security in the overall market

The specifics and importance of job security and stability can vary from person to person – it depends on their background and unique situation. 

Job security has many significant benefits for employees – and it comes as no surprise that the constant worry of losing your job can have detrimental consequences in all areas of life. Each benefit may seem like common sense, but their impact on an employee’s life is profound. 

Decrease stress and anxiety

Feeling constant fear that your job is on the line is no way to live. It can take a serious toll on a person’s physical and mental well-being, which spills over into all other areas of life, including friends and family relationships. Compounding stress and anxiety is also a fast track to burnout. 

Employees feel valued

Feelings of security and value go hand in hand. Employees who feel valued, recognized, and rewarded for their skills and effort in their position are less likely to worry about being laid off and can focus more on the tasks at hand. 

Improved performance 

Some degree of stress and anxiety is standard in almost every workplace at some time or another. However, feelings of security can reassure employees during these increasingly trying times. Removing those worries allows people to spend more energy tackling problems and improves overall performance. 

Increases productivity and engagement 

Happy, well-supported employees are more productive and more engaged. Contented workers perform and interface better with each other, leading to less turnover and fostering teamwork and cohesion. This type of environment can also help reduce employee turnover, which can be a big cost-saver for companies by reducing the cost of constant hiring and onboarding. It’s also a great way to attract new talent.

Here is a list of some of the most secure careers right now:

• Data scientist
• Software Developer
• Mail carrier
• Accountant
• Nurse
• Market research analyst
• Administrator
• Physical therapist assistant
• Web developer
• Actuary

Deciding between jobs and choosing a career path is a very personal decision. Some industries are more volatile and are, therefore, less secure than others. Often, these industries have some extra incentives to entice people despite these risks, such as high pay or good benefits, allowing employees to grow their own security net to fall back on in case of layoffs. 

People in these fields may be highly skilled, sought after, and well-adjusted to volatility and job hopping. It can be helpful to reflect on your priorities and evaluate if your current position aligns with them. It’s also good to evaluate potential future positions through this lens. 

For some, no boundary is more important than security. It depends on the person, their lifestyle, and priorities. There is no one-size-fits-all answer. Some people prioritize work, while others want to balance family, hobbies, and well-being – they may want their life to revolve around something other than their job. 

Other boundaries may include being treated well and respectfully and compensation for work outside of normal hours or responsibilities. Legal boundaries, such as adherence to safety regulations, meeting industry quality standards, reasonable accommodation, and freedom from harassment and retaliation, should always be non-negotiable. 

While factors like the economy, industry volatility, and company performance and culture are significant drivers of job security, employees can do a few things to bolster their position.

Network, Network, Network

Networking is a great way to make yourself a central part of the team – and even secure other opportunities. Creating and maintaining relationships can help you find new positions and give you a leg up in interviews. 

Seek out opportunities for growth

Try continuously to learn new skills and take on new challenges – it will improve your performance and bolster your resume. It can also make you an indispensable part of the team. 

Be receptive to constructive feedback

Be open to well-meaning, constructive input. Our words and actions aren’t always received in the way we intend, and this type of feedback can be an excellent opportunity to understand how others perceive you and for you to grow in new ways. 

The negative impacts of job insecurity are well documented; it’s physically, emotionally, and financially draining. People in these situations often feel like their options are limited, but it can be a good idea to explore other job opportunities if you are able.

You can also prioritize your mental and physical health as much as possible: try adding in short walks throughout the day, eating healthier, and exploring therapy or medication if needed. 

If you’re able, try to factor insecurity into your financial planning. Leave yourself a nest egg if you can to have something to fall back on. Be mindful of insurance alternatives and unemployment help so you’re not caught off-guard if you were to be laid off.