Job security

Job security is the probability that an individual will keep their job ; a job with a high level of job security is such that a person with the job would have a small chance of becoming unemployed .

Basic economic theory holds That During periods of economic expansion Increased demand businesses experience, qui in turn necessitates more investment in capital or labor. When businesses are experiencing growth, job confidence and security The opposite often holds true during recession : businesses experience reduced demand and looks to their workforces in the short term. [1]

Governments and individuals are both motivated to achieve higher levels of job security. Governments attempt to do this by passing the laws (such as the US Civil Rights Act of 1964 ) which makes it illegal to fire employees for certain reasons. Individuals can affect Their degree of job security by Increasing Their skills through education and experience, or by moving to a more favorable lease . [2] The official unemployment rate and employee confidence indexes are good indicators of job security in particular fields. [3] These statistics are closely watched by economists , government officials , and banks .

Unions also strongly influence job security. Jobs that traditionally-have a strong union presence Such As Many government jobs and jobs in education , healthcare and law enforcement are regarded very secure while Many non-unionized private sector jobs are Generally Believed to offer lower job security, ALTHOUGH this varies by industry and country . [4]

Measuring job security

This is a list of countries by job security , an important component in measuring quality of life and the well-being of its citizens. It lists OECD countries ‘workers’ chance of losing their job in 2012, with some non-OECD countries also included. Workers facing a high risk of job loss are more vulnerable, especially in countries with smaller social safety nets . This indicator has been developed in 2012, but was employed in 2011, but was employed in 2011.

Rank Country / Territory Chance of losing job in 2012 [5]
1 switzerland 2.8%
2  japan 2.9%
2  norway 2.9%
4  South Korea 3.0%
5  germany 3.2%
6  austria 3.4%
7  Netherlands 3.6%
8  luxembourg 4.0%
8  russia 4.0%
10  Czech Republic 4.2%
11  iceland 4.3%
12  australia 4.4%
13  belgium 4.5%
14  mexico 4.7%
14  chile 4.7%
16  brazil 4.8%
17  slovenia 5.0%
18  estonia 5.3%
19  italy 5.5%
20  United Kingdom 5.6%
21  Slovakia 5.8%
21  New Zealand 5.8%
21  denmark 5.8%
24  United States 6.3%
25  ireland 6.4%
25  finland 6.4%
27  Israel 6.5%
27  sweden 6.5%
27  la France 6.5%
30  Canada 6.6%
31  hungary 6.7%
32  poland 7.3%
33  turkey 7.8%
34  Portugal 9.1%
35  greece 12.0%
36  spain 17.7%

In the United States

The United States is particularly susceptible to these forces due to a long history of fiscal conservatism and minimal government intervention. [6]

Minimum government interference HAS Helped the United States create an at-will employment system across That Applies Many industries. Consequently, with limited exceptions, an employee’s job security is an application for their skills. For example, in the aftermath of the dot com boom of 1997-2000, employed in the technology industry experienced a massive drop in job security and confidence. More recently, in 2009 many manufacturing workers experienced a similar drop in job security and confidence. [7]Closely following markets means that employment in the United States rebounds when industries adjust to new economic realities. For example, employee confidence and job security in both manufacturing and technology have rebounded substantially. [8] [9]

In the United States job insecurity is higher for men than women, with older workers 30-64 experiencing more insecurity when compared with other age groups. Divorced or separated workers, and workers with a high school diploma also report higher job insecurity. Overall, workers in the construction industry have the highest rate of job insecurity at 55%. [10]

The impact of unemployment and job insecurity on the mental and physical health is now the subject of a growing body of research. This will offer insights into why, for example, an increasing number of men in the United States are not returning to work. In 1960, only 5% of men ages 30-35 unemployed whereas Were Were Roughly 13% unemployed in 2006. The New York Times attributes a large part of this to blue collar and professional men Refusing to Work in Jobs that They Are overqualified for gold do not provide adequate benefits in contrast to their previous jobs. [11] It can also be attributed to a mismatch between the skills employed, and the skills employers in the traditionally dominated industries (such as manufacturing) are looking for.[12]

According to data from 2014 employee confidence reports, 50% of all workers and 18% of them are confident that they will be employed in the future. Job insecurity, defined as being worried about becoming unemployed, is a concern to 25% of US workers. [13]

Outsourcing

Main article: Job migration

Overseas outsourcing (sometimes called offshoring ) can decrease job security for people in certain occupations such as telemarketers, computer programmers, medical transcriptionists, and bookkeeping clerks. Generally, to outsource work to a different country the job must be quick to learn and the work must be transferable with minimal loss of quality. [14]

In Europe

The main difference vis-à-vis the United States is the system of indefinite contracts . In most European countries, where employment is not guaranteed, it is very difficult to use a job. Employees Who-have Legally Acquired thesis rights, for example Because They Have-been with a company for two years Continuously, can only be Dismissed for disciplinary Reasons (after a number of formal warnings and subject to independent appeal ) or in the case of a company Undergoing restructuring (subject to generous laws on redundancy payments and retrainingpaid for by the company). In Spain, for example, such employees are entitled to be paid by the employer. The high cost of redundancy is in practice what gives employees job security.

Whilst employees who have such legal binding, they are in the enviable position of knowing that they have complete financial security for the rest of their lives, it is important to realize that these obligations work both ways. In Some countries Such As Germany has company May prevent prevention year employee (Whose occupational training They Have paid for) from leaving to take up a post elsewhere up to better compensation is Agreed. Even if they are known to themselves, they are known to themselves, and they know how to behave themselves to the company.

Every company will have a mix of employees on different types of contract. Indefinite contracts can also exist for seasonal work . These so-called discontinuous contracts mean that a hotel , for example, may dismiss its staff in the autumn, but it must take the same people back to the following spring.

The proportion of the workforce is indefinite contracts Has Fallen across Europe in response to Increased competition and globalization . Companies can dismiss an employee just before they reach the two-year mark and then re-hire them as a new employee. Many economists argue that greater labor market flexibility is necessary. Economics professors argue that the threat of unemployment is necessary to maintain incentives to high productivity. Meanwhile, John Kenneth Galbraith has argued in The Affluent Society that [15]Jobs that are not backed by an indefinite contract are still poorly regarded in many European societies, often disparagingly described as “precarious” or ” McJobs ” -even when the company has good prospects.

In less regulated European economies, such as the United Kingdom , it is much cheaper to sack permanent employees. In Britain, employees are only entitled to a minimum wage for one week and to be paid for (one and a half weeks for workers over 40 years old). Instead, private- and public-sector employees who feel they have been unfairly dismissed to an employment tribunal in order to be reinstated or to obtain extra compensation. It is not necessary to go through the normal short system .

In Sweden , employment contracts can be time-limited, and can be extended for new time-limited periods, or not, without reason. This is only allowed for the first two years of employment. Expansion does not take place. Most unemployed people, if they get a job, get a time-limited contract in Sweden.

In all European Union countries, an employee retains their existing contracts under the Acquired Rights Directive (in the UK, known as TUPE ), and so on.

Measuring job security

Job security score

A job security score is a numerical expression of an individual’s unemployment based on a statistical analysis of a person’s individual demographics , such as location, industry, and occupation, as well as external factors, such as technology, outsourcing , and overseas competition, which is captured in macroeconomic data and trends. Job Security Score also represents the creditworthiness of an individual based on their ability-to-pay by predicting an individual’s probability of unemployment risk. It is similar to the Credit Score, which represents the creditworthiness of an individual based on their willingness-to-pay by the individual. The Job Security Score is a patent-pending payment risk scoring technology that was first developed by Scorelogix [1] , a pioneer in consumer risk analytics.

Job Security Index

Job security index is a measure of job conditions. Developed by Scorelogix, Job Security Index is representing how economic factors, internet and computers, international trade and competition, outsourcing , offshoring , job migration, etc., are impacting the demand and supply of employment. A higher job security index for a region, such as a ZIP code, or metropolitan statistical area (MSA), indicates that people in this region have a better opportunity of finding jobs and remaining employed. A lower job security index for a job or a job that is relatively difficult to find and keep. Typically, cities and counties that have a higher concentration of government jobs and higher job security jobs.

Other meanings

This section is empty. You can help by adding to it . (November 2016)

See also

  • dismissal
  • List of countries by job security
  • First Employment Contract (a French contract that provoked massive protests before being finally repealed)
  • Contingent work
  • permatemp
  • McJob

References

  1. Jump up^ Neely, Christopher J. (2010). “Okun’s Law: Output and Unemployment”(PDF) . Economic Synopses . Number 4.
  2. Jump up^ “All hands on deck” . www.economist.com . The Economist. January 18, 2014 . Retrieved 9 August 2014 .
  3. Jump up^ “Randstad US Employee Confidence Index” . www.randstadusa.com . Randstad USA . Retrieved 20 July 2014 .
  4. Jump up^ Cliff, Jeramy (6 April 2013). “Unions, Inc.” . www.economist.com . The Economist . Retrieved 14 August 2014 .
  5. Jump up^ http://stats.oecd.org/Index.aspx?DataSetCode=BLI
  6. Jump up^ Studenski, Paul; E. Krooss, Herman (1952). Financial History of the United States . McGraw-Hill. ISBN  1-58798-175-0 . Retrieved 15 August 2014 .
  7. Jump up^ “Unemployment Rate – Industry Manufacturing, Private Wage and Salary Workers” . Bureau of Labor Statistics . United States Department of Labor. Retrieved 15 August 2014 .
  8. Jump up^ “Confidence Among Manufacturing and Logistics Workers High Record Hits in Q2 2014” . www.randstadusa.com . Randstad USA . Retrieved 6 September 2014 .
  9. Jump up^ “Optimism, Security and Confidence: IT Workers’ Outlook on Jobs and the Economy Holds Steady in Q4” . www.randstadusa.com . Randstad USA . Retrieved 1 October 2014 .
  10. Jump up^ Alterman, T; et al. (2010). “Job insecurity, work-family imbalance, and hostile work environment: Prevalence data from the 2010 National Health Interview Survey.” American Journal of Industrial Medicine . 56 (6): 660-669. doi : 10.1002 / ajim.22123 . PMID  23023603 .
  11. Jump up^ Leonhardt, David; et al. (July 31, 2006). “Men Not Working, and Not Wanting Just Any Job” . New York Times . Retrieved October 4, 2013 .
  12. Jump up^ “2014 Manufacturing and Logistics Salary Guide”. www.randstadusa.com . Randstad USA.
  13. Jump up^ “US Employee Level Confidence Reaches Seven-Year High” . www.randstadusa.com . Randstad USA . Retrieved 15 August 2014 .
  14. Jump up^ “Fact of the Day # 39: Help Wanted Overseas (INFOGRAPHIC)” . www.huffingtonpost.com . Face The Facts USA. 6 September 2012 . Retrieved 15 August 2014 .
  15. Jump up^ John K. Galbraith, The Affluent Society , 1969 2nd edition, p. 81,ISBN 0-395-92500-2

Leave a Reply

Your email address will not be published. Required fields are marked *