DOES JOB SECURITY STILL EXIST?

Years ago, our parents and grandparents found stable jobs, worked continuously for twenty or so years and retired at the ripe old age of sixty. Employees simply needed to work diligently and they were assured of keeping their jobs. Meanwhile employers didn't have to worry too much about employee turnover because most of their people were very loyal and stayed with the company during good and bad times long enough.

During that time, it wasn't uncommon for people to work for one company for twenty to thirty-five years. Many have worked for only one to three companies in their lifetime. It was the norm for employers and employees to take care of each other for a very long time. I guess things were simpler then.

But times have change. The business climate is definitely tougher and more competitive now. In the last decade, we've seen more mergers, changes in management, outsourcing and lay-offs from many companies.

Employers are trying their best to survive and gain profit by increasing sales or decreasing expenses. The latter of which seems easier to control. That is why some companies have resorted to outsourcing or even contractual employment. Honestly, it's cheaper with lesser obligations and headaches. However, it has its downside too. If you outsource, you pretty much depend on an outside party. If you offer contractual employment, you'll have to keep on training new hires and make sure that your company's service quality doesn't go down.

On the other hand, employees nowadays are not necessarily loyal for the sake of being loyal to their companies anymore. If a better opportunity comes along, most people nowadays will jump ship with another company. Many professionals move from one company to another in order to increase their salary level. Younger generations, perhaps because they have more options, ultimately work for themselves and use companies as stepping stones for career growth. That is why employee turnover is a lot higher now. Companies invest in training their people and they lose time and money every time an employee resigns.

So job security, in my opinion, for employees and even employers seem to become a greyer area nowadays.

The Labor Code of the Philippines, however, provide protection for both employees and employers. So to a certain extent, your expectations on job security can be based on what the law says.

For instance, in layman's terms, the law secures that any employee cannot be immediately fired on any bosses' whim or unjust cause. Due process on termination must be followed or else the employer can be faced with an expensive lawsuit. The law also differentiates the types of employment that employers and employees can arrange. Regular employees can enjoy more job security over contractual employees. Thus, it is important to choose your type of job wisely.

Another important provision in the labor code specifies exactly situations that are allowed if a company wants to terminate an employee or a group of employees. These include prolonged and contagious illness of an employee, gross violations of company policies, financial losses of the company (this has to be file and proven to DOLE) or business closure.

The Labor Code does have a say on your job security, so does your company policies. These provide a guideline on what your employer can legally do and not do to you. I urge you to read these to know how you can best protect yourself.

So going back to my question... Does job security still exist?

My answer would be, yes, to a certain degree... but I wouldn't count on it as an absolute right. I think it's good to expect the best but plan for the worst when it comes to your career. See, we ultimately have to be responsible for our means of living. Your current job will help you pay for your living and hopefully your family's expenses but nothing lasts forever. Do your best and hold on to your job as long as you can if it is rewarding. On the side, create a safety net in preparation for your retirement whether I comes early or later in life. You have to adapt with the times, be competitive as an individual. Depend on yourself not on others when it comes to your future. Secure yourself.