Dinesh Kamath's Editorial 'Need of job security' that was published in Newsband

Need of job security

Everyone today needs job security. The job security is not something that only 50-somethings care about. Even many younger people find the need of job security.

The moment a youngster comes out from the university, he or she is in need of a job. Many youngsters who have just finished their degree course begin to realize the fact that it is difficult to get a really secure job. Some take up whichever job they get first. Others are very choosy. They think of the future. They want a job that will ensure bright future for them. Hence the moment they are offered a job they evaluate just how good the security blanket employers set up is. They are not bothered about the reputation of the organization. They bother about the salary they are offered in the beginning, their financial position two years later and the retirement benefits the company will offer.

Stress and anxiety about the future are common, as over half the youngsters agreed retirement security is more important today than just a few years ago. That’s a completely new trend of thinking displayed by the youngsters. That’s because they have probably seen their elders without a job just when they reach their middle-age. They know how difficult it is to get a job for one who reaches that stage of life. The experiences of their elderly ones have created such mindsets among them. They are become aware that if today they have a good post and salary, the same need not be the case when they reach their middle age. They wouldn’t like to be at the mercy of whims and fancies of their employers. They would prefer to do a job which will ensure secure future for them even if that particular job fetches them a little low income. Their logic is that it is better to do a low salaried job throughout one’s life rather than do a high salaried one just for a few years.

Many human resources experts, however, are not surprised by this kind of mindsets that the youngsters of today possess. They attribute such a mindset to the global slowdown, a listless economy and uncertain job markets.

Today the security is taking precedence over almost everything all over the world, and most employees would trade a smaller salary increase or bonus for a guaranteed retirement benefit that doesn’t rise or fall with the market (in other words, a defined benefit). More than half want to stay with their current employer until they retire. Salary and job security top the list of what people want when considering a job, followed by the opportunity to learn new skills and build a career — which are, of course, also routes to a higher salary and long-term security. This is the mindset of a typical youngster belonging to 21st century.