Can you imagine waking up one day to find out you have lost your job out of the blue?
We know that job security is very important for employees as it makes them content and happy at work.
No wonder many Indians are willing to give up 10% of their salary for job security.
But since no company promises job security per se, it is upto you to find a company that makes you feel safe about your job.
If job security is a priority for you in your job hunt, here are 5 signs you must checkout in a company before you say yes!
1. The company has low employee turnover rate
One of the signs of job security in a company is that its average employee shelf life is higher than its competitors.
This also reflects that the company does not believe in the hire-and-fire policy and mostly hires for growth prospects and not to replace people.
So before you decide anything, research the company’s hiring trends and employee shelf-life on the internet.
To do so, Google (name of the company) employee turnover rate to find out more about the company's employee shelf life.
You can also search the company on job portals like Naukri.com and LinkedIn to evaluate the hiring patterns.
2. High job security ratings
A high job security rating is a sign that people working in a company feel safe in their position and do not fear the loss of their job.
Such employees are content and work better, as opposed to the people who are under the constant stress of losing their job.
So, before applying or interviewing for a company, check its job security ratings on AmbitionBox.com.
To gauge a company's job security ratings,
- Visit AmbitionBox.
- Enter the company’s name in the Search Company field, select Company Overview from the dropdown, and click the Search button.
3. Evaluate the Reviews Summary to see the overall company ratings by the people working there.
4. Check out the ratings against Job Security and make an informed career choice.
3. The company has a strong financial standing
A company’s financial standing in the market can directly impact the magnitude of job security you can expect.
Because if a company starts collapsing, so will your job security.
So make sure you assess the company’s performance and reputation in the industry before-hand.
Find the projects the company is involved in, their clientele, turnover, and expansion prospects.
Also, gauge the net worth, stakeholders & investors, net sales revenue, and market reputation of the company.
If you are ahead in your interview process and have reached the stage of accepting the offer letter, you may also want to look for these signs.
4. You are asked to serve a reasonable probation period
The probation period plays a crucial role for all new employees as it is in this trial period that companies evaluate their performance.
The completion of probation period entitles you to the long-term benefits like job security, insurance, pension plans, etc.
Now, most companies have a standard probation period of 3-6 months, ending with a review meeting.
But a company that expects you to serve a longer probation period may not be the right fit for you.
Companies that refuse to commit to their employees and take more time than usual to assess them may indicate trust issues, directly affecting the sense of job security.
So, make sure you ask about the probation period before-hand to avoid the uncertainty.
5. The company offers long-term employee benefits
Employee benefits play a crucial role in retaining employees and directly impacts job security.
Long term employee benefits show that the company cares about its employees' needs and wants to make them comfortable.
Companies that invest in these benefits make the employees feel safe in their job and develop a trusting atmosphere.
Some employee benefits you must look for before you say yes to the company are:
- On-the-job training
- Child care
- Retirement pension
- Post-employment insurance
- Gratuity
- PF & EPF
- Healthcare benefits
You can also check the company benefits on AmbitionBox.com.
So go ahead, look for these 5 signs and find a company that makes you feel safe in your job rather than making you anxious!
All the best!