We’ve heard a lot about job security over the last year, as the COVID-19 pandemic has created record levels of unemployment and more people than ever have struggled to find permanent jobs.
In October 2020, HR News reportedthat over 60% of UK workers don’t feel as though they have job security. But what exactly is job security, how do you know if you have it, and how do you cope if your job is not secure?
What is Job Security?
Job security is simply the likelihood that you will keep your job. Someone with a high level of job security is unlikely to lose their job, while someone with low job security is at more risk of being made redundant, laid off, or simply not rehired at the end of a fixed-term contract.
Many factors can impact job security, from the industry you’re in to the financial situation of the company you work for. The law also prevents you from being fired or laid off on certain grounds, such as those connected to protected characteristics.
Workers contracted to a full-time role or a specific number of part-time hours have more protections than those on zero-hours contracts, who can usually be laid off without notice. In general, you also have more protections the longer you’ve worked somewhere. If you’re made redundant, you’ll be paid statutory redundancy pay (at a minimum) as long as you’ve worked for your employer for two years or more.
Companies must also lay out their disciplinary rules and procedures so employees know what to expect. This means that you can’t be fired out of the blue without proper warnings and processes being followed.
Why is Job Security Important?
It is very hard to do your best work if you feel constantly stressed out about whether your job might suddenly come to an end. Most people work better and feel more invested in their job if they feel secure.
Stress about insecure work can also bleed into other areas of your life. You might find yourself avoiding social and leisure activities that cost money in case you suddenly lose your job. This can have a big impact on your mental health and wellbeing. At its worst, worry about money and job security can lead to severe depression and even people staying in unsafe living arrangements.
Job security can also impact your ability to secure things like a mortgage, a car contract, a credit card, and other types of financial services. That’s because banks and other providers have a responsibility to make sure you can meet your payments, and a clearly insecure job (such as a zero-hours or fixed-term contract) can work against you.
Of course, some people accept job insecurity because it comes with other trade-offs. Freelancers and the self-employed, for example, accept a degree of insecurity for the benefits of being their own bosses, setting their own hours, and enjoying theoretically uncapped earning potential. You must decide how important job security is to you when weighed against other factors.
Which Jobs Are the Most Secure?
Some industries are notorious for job insecurity in the UK, while others tend to be more secure. This is by no means a complete list and you should consult the latest data on your industry if you’d like to learn more.
Creative workers and performers such as actors, writers, and musicians deal with high levels of job insecurity, often moving from one short-term contract to another with no guarantee of work in between.
Roles in academia (and higher education generally) are amongst the most insecure jobs in the UK, with over half of all academic staff on insecure contracts according to the UCU.
Retail and service-based jobs are also often insecure, with many workers in these roles on either seasonal or zero-hours contracts.
By contrast, some of the most secure jobs in the UK include engineering, healthcare, and teaching at primary and secondary school levels.
How Can I Cope if My Job Isn’t Secure?
So you’ve determined your job isn’t secure. What now?
First: don’t panic! You’re far from alone and young people, in particular, often find themselves in insecure jobs. Read on for a few of our top tips on surviving the dreaded job insecurity.
Try not to catastrophise
Anxiety is understandable – we live in precarious times and insecure employment can be incredibly stressful. But if you can, try to keep your anxiety in check. An insecure job doesn’t mean that you are necessarily about to lose it at any moment!
If you’re really struggling with insecure job anxiety, try speaking to your GP or your company’s employee assistance programme to access some mental health support. No-one should have to live with chronic, debilitating anxiety!
Plan for the worst
Planning for an eventuality won’t make it happen! You can take a lot of the stress out of job insecurity by knowing what you’d do if the worst came to the worst. This might include asking family members for financial support, moving in with family or friends in the short term, cutting back on spending in certain areas, or applying for certain benefits.
By knowing your options, you can remove a lot of that catastrophic thinking we just talked about. Chances are the worst case scenario won’t come to pass but if it does, you’re well prepared to weather the storm.
Join a trade union
Trade unions exist to get you a better deal at work. These organisations support employees, lobby companies to operate with fairer policies and procedures, and even help enact changes to the law. According to Labour Unions, union members are likely to enjoy more job security and better benefits.
In addition, membership to a union can get you access to benefits such as legal advice if you feel you’re being treated unfairly at work, and even representation at tribunal if you have been unfairly dismissed.
Check out the Find Your Union tool to find the most appropriate one for you. Many larger companies and organisations also formally recognise a specific union.
Save if you can
You’ll feel more comfortable about your insecure job if you have a financial safety net to fall back on. Unfortunately, this won’t be possible for everyone. Cost of living is rising and salaries are not keeping up, with increasing numbers of people living paycheque to paycheque.
But if you are able to save even a small amount of money from your salary every month, this can give you a small buffer to fall back on should you lose your job.
Look after yourself
Take the time to practice self-care and look after your physical and mental health. This means getting fresh air and exercise, eating foods that you enjoy and that nourish you, and making time for the things that bring you joy.
You might not be able to control your job security, but you can equip yourself to better handle the situation.
Search for a more secure job
If all else fails and the insecurity is outweighing the positives of your job, you can always search for a more secure job. There’s no shame in wanting security – it actually makes a lot of sense for all the reasons we’ve discussed!
It’s Not a Reflection on You
Insecure jobs are sadly a fact of life for many people. While there are things you can do to change your situation if you want to, don’t blame yourself or beat yourself up if you’re struggling. Millions of people are in the same boat.
Whatever you decide, good luck!
