Published in Human Resources Terms by MBA Skool Team
What is Job Stability?
Job Stability refers to the stability that one has in his/her has or desires in job or occupation. Job Stability can also be understood as the duration one perceives to keep his/her current job without external factors. Not long time ago this was one crucial parameters in selecting a job, people chose stability over nature of work. That was the reason people sought government jobs. With the changing times the scenario has just reversed, aspirants are choosing skills and quality of work over job stability.
Average tenure in a company has gone much down. There is one thing that have always been felt is that job stability will not always lead to life stability .Job satisfaction is what then comes into picture. While several conditions are considered for stability –output from employees, satisfaction, economic growth of the country, growth of company and the employee, productivity are one of the few. Japan is the country that is known to have job stability index higher than most of the countries which are developed. We live in the times where stable job might be a myth. Health care, good retirement plans, provident funds are few ways in which there is stability added to the job that one does.
A stable job is not that one finds easily these days .Even people at the management holding key positions can’t be secure of their jobs, if the shareholders are not happy with the way the company is functioning, the CEO might have to resign. Acquiring new skills and teaching them can help one become firm in one’s position. The technology and skill sets are changing every day, if one has to survive in the market one should not become obsolete. Information is what might get you there but knowledge is that will make you sustain.
Hence, this concludes the definition of Job Stability along with its overview.
This article has been researched & authored by the Business Concepts Team. It has been reviewed & published by the MBA Skool Team. The content on MBA Skool has been created for educational & academic purpose only.
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