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An objective or subjective measure of the likelihood a person will keep his job. Outsourcing, efficiency, company revenue, the expense of employment and an employee's own attitude all affect his/her job security. See also: Job Security Index.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
job securitythe degree of certainty of continued employment with a particular organization. Job security is generally a function of statutory employment rights (i.e. protection against UNFAIR DISMISSAL), other elements of the CONTRACT OF EMPLOYMENT and the financial wellbeing of the organization. It can be said to be low where a company is suffering sustained losses or where the employment contract places a limit on the duration of employment (which may also debar the employee from certain statutory rights). Even where these conditions are not present, job security may be threatened by rationalizations which remove the need for certain jobs and hence lead to REDUNDANCY. See TEMPORARY WORK.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson