In Canada, having a secure job is really important to most people, even more than getting paid more money. A recent report shows that many Canadians now care a lot about keeping their jobs, especially in tough times. This blog will help you understand why job security is so important and what employers are doing about it.
Canadians Are Choosing Job Security Over Higher Pay
A survey done in June 2024 asked more than 300 Canadian employers and 1,500 workers about what matters most to them. The survey found that 80% of Canadians would rather have a secure job than a higher salary. This is interesting because, before, many people didn’t even think about job security. Now, 64% of Canadian workers say they are worried about job security when they think about changing jobs, and 13% are so concerned that they won’t even apply for new jobs.
Job Security Concerns in Job Interviews
Canadian workers are also bringing up job security more often during job interviews. The survey showed that 74% of employers have noticed that people are asking about job security when they’re being hired. This has become more common in 2024. Two-thirds of workers say that the state of the economy is a big factor in deciding whether to change jobs. Things like inflation, unemployment, and the economy’s growth are on their minds.
Employers’ Response to Job Security Concerns
Because job security is such a big worry, many employers are doing more to make sure workers feel secure. Over 80% of hiring managers have seen an increase in people turning down job offers this year. While many turn down jobs because of pay or company culture, 16% do so because they’re worried about job security, and 14% are concerned about company stability. To address these worries, 67% of companies have changed how they hire people. They’re sharing more about their growth plans and being open about how the company is doing.
How Job Security Benefits Employers
Offering job security doesn’t just help employees; it also benefits employers in several ways:
- Less turnover: When workers feel secure, they are less likely to leave, which saves money on hiring and training new staff.
- Better work environment: Secure workers tend to feel happier and more positive about their work and the company.
- Increased productivity: When employees don’t have to worry about losing their jobs, they can focus more on their work, leading to higher productivity.
- Good reputation: Companies known for providing job security are seen more positively by others, which can boost their public image.
In today’s uncertain world, job security is more important than ever for Canadian workers. Employers who understand this and take steps to address job security concerns can build a stronger, more loyal workforce. By focusing on job security, companies not only help their employees but also benefit themselves in the long run.
