Is Job Security Slowly Fading Away & What Can You Do About It?
When I was about 16 years old and getting closer to the end of my time in high school, I was forced to think about what my life would be like after I graduated. My ultimate goal was to find job security but I wasn’t quite sure the route I would take to get there.
- Go to college?
- Join the military?
- Find a job close to home?
- Move to find a job?
Honestly, I did not see many options. I didn’t realize it at the time, but I do now. And I’m sure many people are looking at these same options today. They are not bad options. The issue is that today, none of these may be great options for job security now and into the future. Even government jobs are no longer safe.
But you often hear that the strategy for success is to go to college and then find a good job with job security. So this is what most people do.
According to SHRM, “employees ranked job security and benefits as the top two ‘very important’ contributors to job satisfaction over other factors such as career development, flexibility and compensation…”
Many people still follow and promote this philosophy of college and the importance of job security today.
But the world is changing.
Business is changing.
And the strategy for success is changing.
What is job security?
As defined Wikipedia, “Job security is the probability that an individual will keep his or her job; a job with a high level of job security is such that a person with the job would have a small chance of becoming unemployed.”
The idea of job security was a good idea, but it is an idea that you ultimately have no control over.
You could be the best employee, work hard everyday, and go above and beyond your boss’s expectations. But that doesn’t guarantee you will have job security. You can be loyal to your company, but will your company be loyal to you?
Companies focus on doing things better and cheaper. This can be accomplished with software, technology, and outsourcing. So you must look at your job very carefully and determine if you could be replaced by either software, technology, outsourcing, or a combination of these.
John Chow recently wrote an article about how your job will become obsolete. In this article, he mentions that overseas, he saw a McDonald’s restaurant with self ordering stations. In the video on his website, the restaurant had 1 person working the counter and 6 self ordering stations.
This is no surprise.
Companies have been slowing introducing us to more self service offerings for at least the last decade.
Remember when you had to pay for gas inside before you pumped at gas stations?
I don’t remember the last time I did that. You can now pay right at the pump using a credit card.
And by the end of 2017, more people will be getting the new Tesla Model 3 and skipping gas stations altogether.
Walmart and grocery stores have self-service lines as well.
John Chow says, “The store of the future will have much fewer, if any employees at the front counter. Just look at Amazon Go, a new grocery store that has no checkout lines. Using the Amazon Go app, you walk into the store, grab what you want, and walk out. When you leave, they know exactly what you bought and will bill your Amazon account for it automatically.”
John also mentions in the next decade there will be more self driving vehicles eliminating the need for drivers. As Amazon starts delivering packages using drones, more jobs will go away.
What can you do about job security?
Well, there isn’t a lot you can do to gain more job security. You just don’t know when new software, technology, or outsourcing will become available to make your job obsolete.
Basically, job security is not something you have control over.
But you do have control over the decisions you make today. You can begin making changes in your life so you are ready if and when your job security vanishes or your job becomes obsolete.
- Invest passively in real estate with a team of professionals to earn income like a landlord without actually having to be a landlord. Request your free game plan now.
- Start an online business and build it in your spare time until you earn enough income to replace your full time job. Start building your business now.
With these strategies, you could regain control. Then if your job goes away, you are better prepared.
Change is coming.
Job security is fading.
It’s time to adapt and prepare now.