The Importance Of Job Security

822 Words 4 Pages
Job security is an important factor of any employee’s satisfaction. Job security is the probability of someone losing the position they hold inside an organization. The higher the level of job security the less chance of an individual becoming unemployed. The average employee strives for a job with a high level of security. Organizations are even known to increase job security through various means to improve job satisfaction. While both employees and organizations pursue high job security there are a number of things that affect it, such as unions, laws, turnover rates. All of these factors allow it in the end to be quantified into an individual’s score or an organizations index, creating a unique index for each country. Unions influence …show more content…
The countries with the top three highest job security indexes, calculated in 2012, are Switzerland with a chance of losing one’s job at 2.8%, Japan and Norway tying at 2.9%. The country with the lowest job security index is Spain with a 17.7% chance of someone losing their job. The United States of America comes in around the lower middle at 6.3%. Switzerland has achieved the highest standing job security index score due to what it views as attractive to customers and how it implements that into its government and businesses. Job security ranks second among the things that are prioritized in attracting workers, and fifth in retaining workers. This is due, in part, to the citizen’s fear of fluctuating economies so they strive to find a job that will not only be in business for a long time, but will keep them hired for an extended period. They also hire using indefinite employment process, which defines the duties, work hours, length of employment and their salary and benefits in a contract. It also defines what the employee may be fired for, as well as how it will be handled. In this contract it is also stated that upon termination there is a notice and severance pay for the fired individual. Severance pay in these countries can last months or even years, so whenever someone is hired the company tends to take more stock in keeping these people so they don’t have to pay people they have

Related Documents

Related Topics