The Job Security.Importance on job satisfaction

 

• ·        What is job security?

Job security can be interpreted as the level of job satisfaction that guarantees a lifetime of employment in the factory. While working for the factory, employees shouldn't be concerned about losing their jobs.

With a sense of safety from things like layoffs, economic downturns, and other potential employment-impacting variables, job security is a good thing. The importance of job security for both employees and businesses are outlined in the following five reasons.(Rabia Imran,2015)

• ·        Makes workers feel appreciated.

Employees who feel secure in their positions feel valued, which shouldn't come as a surprise. Employees feel respected as people first, then as employees, if an employer can instil a sense of security.(Rabia Imran,2015)

• ·        A rise in employee engagement 

A recent study examined employee engagement and job uncertainty. According to the study, employee engagement is significantly impacted by job instability. Gallup discovered some intriguing data that supports this statistic. A 37% greater likelihood of disengagement in the workplace exists among employees who feel uncertain about their jobs.(Rabia Imran,2015)

However, employee engagement rises when workers feel respected, safe, and secure. A motivated workforce has advantageous spillover effects. greater employee retention, lower employee turnover, and even greater corporate performance are all examples of this. Furthermore, how attached employees feel to their company has a big impact on job security.

• Reduced worry and stress among employees

The health of your staff members is crucial. Performance is known to be correlated with employee well-being, particularly with regard to stress, anxiety, and burnout.

The employees' well-being is likely to suffer when there is a lurking worry about job uncertainty. The mental and physical health of your employees can be greatly impacted by job instability.(Rabia Imran,2015) A protracted state of worry, rage, or burnout can result from job uncertainty. Both manifestations of physical and mental health may be affected by those effects. This covers issues including poor sleep, substance abuse, weight gain, depression, and other things.

• How LOLC Finance can improve job security?

Promote chances for learning and growth.

The new current status is skill. Encourage your staff to improve in order to stay competitive as a manager. It may assist the staff develop their skill set by empowering their learning journeys. You've hopefully contributed to skill development in case anything like layoffs occurs. They might be better equipped to survive a challenging employment market if they do this.

Promoting career mobility

The time when workers held positions for protracted periods of time is long gone. We are aware that career and internal mobility are essential for employee development. Encourage career mobility as a manager. It could imply that some of the staff members don't stay on your particular team for as long as is ideal. However, the employees will advance in their jobs and pick up new skills. By doing this, you'll contribute to their increased employment stability and boost the bottom line for the companies.

Be a visionary leader.

Preparing for the future is one of the main tenets of being future-focused. The key to future-focused leadership is being ready for potential obstacles and failures. Having both optimism and practicality will help you develop the essential abilities. and as a result, your team will exhibit improved innovation, performance, resiliency, and agility. A future-focused mindset is essential for boosting job stability. You could be better able to develop career paths for your team if you can plan far enough in advance and be ready for the unexpected.As it is a large conglomerate the job security is in high level. but as a manager human resource manager can practises the above mentioned procedures to increase the job security.

 

 

 Reference

Rabia Imran (2015) ‘Impact of Organisational Justice, Job Security and Job satisfaction on Organisational Productivity’, Journal of Economics and Business Management, 3(9), pp. 840–845