How secure are today’s jobs?

How secure are today’s jobs compared to those of twenty years ago? Plus to what extent do these findings even affect employees and job-seekers?

Before we delve into the latest stats, there’s one important question we should be asking…

What does job security really mean?

There was a time when job security was closely correlated with a ‘job for life’. Something now considered to be a feature of the distant past – and not expected to return, either!

In more recent decades (and as per the Oxford Dictionary), job security has become “the state of having a job…from which one is unlikely to be dismissed”.

How secure are jobs in 2019 versus 1998?

Due to the discussions surrounding the gig economy, you won’t be surprised to hear that most people think national job security is diminishing.

However, CIPD research suggests this is untrue:

  • The total share of non-permanent jobs has ‘not increased since 1998’.
  • Nor has the ‘under-employment rate’ of people requiring additional work.
  • The vast majority of national employees are in fact in ‘regular’ 9-5 jobs.
  • Any fluctuations that have occurred throughout this twenty-year period are additionally temporary in nature and relate to specific events, such as recessions.
  • While largely positive, the CIPD has called on the government to do more to tackle poor pay and discrimination issues.

Does it matter how secure your job is in 2019?

You’d be forgiven for thinking that the growing gig economy and increase in ‘side jobs’ are signs that professionals are less concerned about job security…

Advice for those worried about job insecurity:

MindTools has issued advice to help people cope with the uncertainty of their work.

Two of the best tips from this piece also apply to your job-seeking process…

  • ‘Show your value’: not only does this approach help you stand out as an employee, yet it also helps set you apart from your job-seeking competitors.
  • ‘Stay current’: upskilling is sure to be a continued theme in recruitment news, as technology advances alter the jobs landscape. The way you market your skills should also be current…including regularly refreshing your CV!

Looking for a new job? You’ll find the latest temporary, permanent and contract openings listed here



Forced into side hustles

Why do employees opt to work in so-called side hustles? Is it by choice or is there something else forcing their decisions?

If you read our recent salary news roundup, you’ll know that more than 1/2 of professionals are finding it difficult to meet their financial needs on a monthly basis.

So, it’s of little wonder that the majority of people who undertake side jobs are motivated by the chance to earn more money.

The top motivations for side hustles are:

  1. To increase income (59.9%)
  2. For personal enjoyment (14.1%)
  3. To ‘improve a hobby’ (10.4%)
  4. For better job security (9.4%)
  5. Or to enter a new career (6.3%)

The fact that 67.7% of respondents could be willing to stop their side jobs if their employer increased their salary adds further proof of their financial incentive.

That said, the remaining 1/3 of respondents intend to eventually turn their side gig into their career role.

Should employees and/or their employers be concerned?

There are important considerations for all parties…

  • As the Onrec post suggests, employees should have a good look at their employment contracts before embarking on any side jobs. Many businesses place restrictions on work that can be completed out of office hours.
  • Naturally, employers need to promote productivity and will be concerned if their team members turn up unreasonably tired or distracted. There’s also the chance of competitive overlaps and even public relation problems.
  • Yet, as the piece also mentions, businesses need to do more to attract and retain their employees; particularly in a time of continued skills shortage. Where possible, increased salaries can help professionals to better balance their work and home needs.
  • Business leaders can consult their recruitment agencies for more guidance on achieving competitive and attractive salary packages. We’re delighted to assist local employers with their recruitment enquiries – please call the office on 01225 313130 for more information.
  • Employees who feel overwhelmed with balancing extra work alongside their careers should consider whether their day job is the right role for them. If they’re not able to negotiate a salary increase, they may find their earning potential is greater in a new role. Regularly reviewing local job opportunities can help you to gauge your salary potential.