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What should I look for in a company for job security if my priority is job security?

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Terrell’s Answer

What should I look for in a company for job security if my priority is job security?

I would suggest the following.
1. Look for any organization changes
2. Worker characteristics
3.Economic factors
4. Review website to see of any turnover ratio information
5. Look at reviews from past employees
6.Network online (LinkedIn) to speak with current employers for insight
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Briana’s Answer

Terrell had some great points. Looking at the turn-over rate for the companies you apply to is a very good idea. I'd also suggest...
- Asking your interviewer why they have a current job opening. Did someone get promoted to another position? Leave? Get let go?
- Does the company have opportunities for advancement from your starting position?
- Does the company provide and/or finance continuing education, training and skill building?
- How long has your interviewer worked for the company?
- Is there a strong HR department and/or workers' union that can protect your interests?
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Mark’s Answer

I think of 3 things with job security:

1. Is the industry stable and will it show some growth? I am in Computing and we go through ups and downs and there are layoffs. This does not happen the same way in areas of Healthcare, Government, ...

2. Is the company consistently growing? This is important because growth hides mistakes of management. If you are growing you can just stop hiring for a little while to get your costs back in line vs letting people go.

3. Will you like what you do and the company? I know this one might seem a little strange. However, if you do not like the company or what you do, most likely you will not do a good job and this could effect your job security.
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Chirayu’s Answer

If job security is your top priority, here are some key factors to look for when considering a company - Look for companies that have a history of financial stability and long-term success in their industry. Companies that have been around for many years and have a strong reputation are generally more stable. Some industries are more stable than others, such as healthcare, government, and education. Consider targeting companies in these industries for greater job security. Larger companies with a diversified portfolio and a strong balance sheet tend to be more stable than smaller companies or startups. Look for companies that have a history of consistent profitability, as this is a strong indicator of financial stability. Look for companies that are growing and expanding, as they are more likely to offer stable employment opportunities in the long-term. Look for companies that have a low turnover rate, as this is a sign of a stable and supportive work environment. Look for companies that offer a comprehensive benefits package, such as health insurance, retirement plans, and paid time off. These benefits can provide a safety net during tough economic times.
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Jim’s Answer

I think it is important to point out here that when talking about working in the private sector corporate world, there is no way to obtain total job security. Any number of occurrences can happen to jeopardize jobs: market conditions, economic downturns, recession, new competition and so on. In my opinion, it's therefore a mistake to rely on a company's fundamentals when looking at job opportunity, the reason being that fundamentals will change over time and you can't predict that or what happens as a result. For example, I was laid off from JP Morgan's Compliance Department simply because the firm was relocating jobs to Florida and Texas to save costs. Morgan was doing well at the time and I was performing well on my job. However, senior management decided New York was too expensive as a business location and so me and a few thousand others were out of a job. The key to job security, if there is one, lies with you. Whatever career field you are in, expand on your skills, obtain whatever professional accreditations you can, broaden your professional experience outside of your particular team by volunteering for projects or cross-training with other teams. Strive to diversify and strengthen your experience so if you do lose a job, you will have something to offer prospective employers, something you can use to demonstrate you can meet their needs so you get your career back on track. Lastly and more importantly, learn and practice networking so you can develop relationships that can be resource for you. Many jobs are gotten not by what you know but who you know; it's a cliche but it's true. When the chips are down, your professional network can be a supportive resource for you and can you help you move on from an adverse event in the same way you can help someone else. Personal relationships are key no matter what industry you're in. I've used all of the above in my career, which is back on track now after two bad mistakes (yes, even at my age). This is why I say job security depends on you and you alone; you can't control anything else.
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Kathryn’s Answer

Job Security is a very good concern. And everyone has provided some great thoughts. But I would challege you to continue learning and building your skill set. Companies offer training, and some offer assistance for graduate degrees. Be sure to ask about these programs and take advantge of this opportunity. You may not be with the same company for 20 years - but you will always have new knowledge for future job opportunites. In this sense, you will have resolved your Job Security concern. Wishing you the best!
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