Employment security
- Employment Security
- Providing job security encourages employee loyalty and commitment to the organization
- It increases employee productivity through training opportunities offered in the organization.
Employment security involves a long-standing commitment of employers to keep their employees. Organizations need to give the employees the security that their jobs are safe, and they are not dispensable but rather a valuable addition to the company. Job security increases employees’ loyalty and commitment to the organization as well as their involvement and motivation to work. As a result, companies can get the best out of their employees, which in turn increases the firms’ productivity. Besides, job security allows employers to offer training opportunities to their employees with a guarantee that the employee will stay long enough to enable the company to earn a return on their investment in skill development.
- Selectivity in recruiting
- Selective recruiting helps employers get competent employees that are motivated to succeed.
- It also helps in driving symbolic aspects like high expectations within the organization that encourages employees to work harder to meet those expectations
To stay competitive in the market, an organization must be able to choose the right set of employees. Firms need to select employees that are highly competent and motivated to succeed in whatever they are doing. For instance, Southwest Airlines managed to solve their worries of getting the right employees by involving their passengers in the selection process because they are the ones who spend most of the time with these employees. Also, organizations need to have vigorous recruitment processes to drive certain symbolic aspects that motivate employees to work harder. For instance, a job seeker that passes a tedious and strict recruitment process builds a mentality that the job involves high expectations. As a result, he or she gets motivated to work harder in order to stay on par with company expectations.
- High Wages
- High wages help in attracting and retaining a competent and skilled workforce.
- It also drives the narrative that the employer values his employees’ thus increasing productivity.
Companies often believe that lowering labor costs is essential to reduce operation costs and create an environment for competitive success. However, cutting employee wages demoralizes employees and significantly reduces production. If you want to attract and retain a competent workforce, offer them high wages. Offering a high wage, especially more than required market wages, drives a narrative that the organization values its employees. The employee might passive the extra income as a token of appreciation and work more diligently as a result. For instance, Nordstorm gained a competitive advantage in the market by paying its employees more than the prevailing wage rates to act as a motivation for their employees.