As recent as a half-dozen years ago, job-hopping was an accepted practice, and retirement and employment security were not American workers’ chief concerns. Then the recession hit, and things changed.
Job security, which used to seem so vintage, is coming back as the most desired attribute.
The recession’s sting has subsided some, but American workers and companies will continue to feel its effects for years to come. In particular, job security, which used to seem so vintage, is coming back as the most desired attribute — so much so that employees now say they will overlook a position’s limited advancement opportunities if it offers greater long-term security.
In its most recent biennial Global Workforce Study, researchers at the professional services company Towers Watson found that eight out of 10 respondents want to “settle” into a job, with about half saying that they would like to work for one company in their entire career — despite the employees’ knowledge that they are in dead-end jobs with no possibility of advancement.
This is a marked change from previous Global Workforce studies, in which researchers reported that advancement opportunities were most important.
What a difference a recession makes.
The study’s authors don’t see a shift any time soon either, but offer a few suggestions for companies looking to turn “passive” security into “active” security:
“Organizations must hone their ability to enable employee self-reliance, fostering within each person the knowledge, skills and confidence necessary to effectively manage their careers, their health and their financial future outside the safety net provided in the past,” Laura Sejen of Towers Watson told Chief Learning Officer magazine.
Sejen’s colleague Max Caldwell added that, although most employees realize that they have some control over their future, it’s ultimately up to the employers to “equip [them] to act by giving them the tools and training they need to be confident and successful.”
Welcome to the new normal. What are you doing about it? Tell us in comments.♦
Read Chief Learning Officer magazine’s article here; and visit Towers Watson’s web site for more details about the study.
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