Is Job Stability Important When Looking for a Company?
When researching companies for employment, job stability is a factor of varying importance. Its importance depends on the company, and the combination of multiple factors.
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Features
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Job stability is measured by job tenure, or the length of time that employees stay with their employer.
Considerations: Job Stability versus Job Security
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Job security refers to the chances that an employee will lose his or job job by being fired or laid off. Job stability does not make a distinction between being fired, laid off, or leaving the job for a better opportunity.
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Perspectives
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In today's competitive, globalized market, job stability weighs heavily from the employer's perspective, since work opportunities are omnipresent. Yet, an unstable history may be unappealing to prospective employers.
Industry/Profession
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Industry and profession determine the importance of job stability. To illustrate, compare freelance writers and medical professionals. In a "laddered" industry, a corporation, like Nike, may favor long-term employment.
Economic Climate
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Expanding economies make job stability an issue for employers, since opportunities are abundant. In a recession, potential unemployment magnifies the importance of job stability to workers.
Benefits
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Salary increases, education, and professional growth are obvious benefits, while the demonstration of tenure, dedication, and loyalty may create opportunities.
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