In light of recent financial uncertainties, job security has become a primary concern for many individuals. The belief in one's ability to sustain their current job and progress in their career without fear of being replaced or laid off is integral to this sense of security. According to a survey of 13,488 individuals across 15 countries conducted by BCW, 52% of respondents cited job security as their top priority. The Professional Resume Writers poll also revealed a significant increase in general employment concerns, particularly among executives (66%) and entry-level employees (48%), with the latter experiencing a 91% rise in anxiety.
Factors contributing to this widespread unease include fears of layoffs, increased competition, economic hardships, and the potential impact of artificial intelligence on job roles. With 69% of respondents expressing apprehension about job loss due to AI, it's clear that people are seeking strategies to enhance their job security and career stability in the face of these uncertainties.
Predict Job Security
A profession’s stability is based on a number of factors, and you can predict which jobs may have the greatest security. First, social trends drive demand for a products and services. From there, industries tend to grow, and the organizations which are part of the industry can offer jobs which tend to be more secure.
- For example, the population today is aging and as a result, healthcare is growing, along with services which enhance physical health and capability. Services for the elderly are up 29%, physical and occupational therapy and audiology are growing at 28%, home healthcare is up 20% and—and an adjacent industry, insurance—is growing at a rate of 13%. All of this data is according CareerOneStop run by the U.S. Department of Labor.
- Or consider tech which has an ever-increasing role in our lives, driving everything from basic appliances to our social networking and the apps we use to order dinner or a ride. Not surprisingly then, all kinds of tech jobs are up 19% based on CareerOneStop.
- Or take pet ownership which has grown significantly as the population ages and more empty-nesters become dog or cat parents. Veterinary services are up 19%, according to CareerOneStop
- Mental health has been declining with steady increases in depression and decreases in overall wellbeing. Relatedly then, mental health practice is up 21% with psychiatric and substance abuse services up 12% and wellbeing/fitness centers growing by 11%, based on data from CareerOneStop.
Bottom line: To obtain a job that is secure, look for social trends which drive growth in industries, markets and organizations—and seek roles there for a greater likelihood of job security.
Create A Stable Career Path
In addition to paying attention to trends and industry growth, you can create a stable career path in a few specific ways.
- First, manage your perspective. Know that your job security is the result of your ability to adjust, adapt and learn. You can think of your job security not only as the stability of a particular job, but the stability of your career—which is based on your ability to shift easily to the next opportunity when the time is right.
- To ensure your career stability, you’ll need to stay aware of context. Pay attention to trends and patterns both in society and in your industry. Also listen to what’s going on within your organization and anticipate where the market may be softening or business may be shifting—so you can be ready to respond and adapt in terms of your role, responsibilities and contribution.
- Also recognize that job security goes beyond pay. For your own financial health, you may determine a certain salary is necessary, but also know that security itself has value. If you lose your job, you’ll lose your income, but you may risk having to take a lower-paying job to re-enter the workforce. Based on these factors, the value of job security is estimated at 17% of pay, according to AEI. Select jobs and make choices with this perspective on pay.
- In addition, be sure you’re performing brilliantly, taking initiative and always learning. Your job security is significantly based on how much your employer sees your value today (think: great performance) and for the future. When you raise your hand for a new project or suggest an innovative way to solve a problem, you enhance your value beyond your current performance. And when you keep learning and growing, you send a message about your future potential and your agility in going places the business will need to evolve in the future. All of these are important ways to enhance your job security.
- Another way to enhance your job security is to build strong networks and relationships. Companies want to retain and develop people who are strong team players and bring a positive attitude toward their work. They are more likely to keep and invest in employees who get along well with others and have strong social capital—the ability to form positive relationships and get things done constructively within the culture.
Ultimately, these approaches will not only enhance your job security, but also your career stability based on your strong credibility, great skills and people who will support you in your next opportunity.
And in addition to creating your own job security, you can also find it in specific fields and roles.
Find Job Security in Tech
One of the fastest growing industries with tons of jobs being added annually is tech. Tech is integral to life, which leads to increases in products, services, businesses and jobs. But tech is also integral to every company—so the job security in tech jobs is among the best available. You’ll enjoy this kind of career if you have attention to detail and an analytical bent. Consider these roles:
- Data Scientist – Roles in data science are growing at 36%, and the average salary is $115,000. The job works with data to inform decision making in all kinds of fields and professions. Get started by obtaining a bachelor’s degree or finding a company that hires for potential and trains you themselves.
- IT Security Professional – Growing at 35%, this role is focused on cyber security and averages $120,000. Get started by obtaining your bachelor’s degree.
- Software Developer – Jobs as software developers are increasing by 26%, and the average salary is $133,000. Get started by finding a company that will train you—or obtain your bachelor’s degree. You’ll do work in which you’re creating software programs which go into services and products.
Find Job Security in Healthcare
The field of healthcare is growing tremendously, and this includes a significant number of related professions. People who enjoy healthcare typically have a penchant for science as well as a desire to work with people.
- Nurse Practitioner – This role is growing at 40% with an average salary of $125,000. As a nurse practitioner you’ll see patients and offer services greater than an RN, but less than a doctor. You’ll do patient exams, diagnostic tests and prescribe medications. Get started with a bachelor’s degree and two years of an advanced degree, as well as a license.
- Assistant Occupational Therapist – The growth for this profession is expected to be 25% with an average salary of $66,000. Assistant occupational therapists work with occupational therapists to help people develop their physical abilities. You can get started with an associate’s degree and a license to practice.
- Speech-Language Pathologist – This job is growing at 21% and makes an average of $89,000. Get started by obtaining your bachelor’s and master’s degrees and your license. Your work will be in supporting people who have difficulty swallowing or speaking.
Find Job Security in Business
Business roles also offer plenty of job security, and CEO outlook has been steadily improving. In fact, CEO confidence is at its peak today compared to the last 18 months, according to data from Vistage. Business is a fit for all kinds of interests from those who are analytical to those who are more conceptual and from those who prefer to work alone to those who thrive on working in a team.
- Market Research Analyst – This role is growing at 19% with an average salary of $79,000. You’ll examine market patterns and develop insights to inform business decisions. Get started by obtaining a bachelor’s degree.
- Financial Advisor – The job of financial advisor is growing 15% with an average salary of $117,000. Get started with a bachelor’s degree and a licensing exam in order to help people plan and manage their finances.
- Real Estate Agent – This role is growing at 5% with an average salary of $71,000. Get started with an associate’s degree or with employer training and by obtaining a license.
- Engagement Manager – The average salary of an engagement manager is $112,000 and you’ll be a liaison between your company and the customer, helping them to set up programs and products. Get started by obtaining a job at a company that will train you. A degree is not typically required.
- Within business, you may also want to focus on a role within the field of energy, including geothermal, solar, wind, and other sources of electricity. These are growing at 60%-61% which bodes especially well for all the jobs within the field.
Find Job Security in a Helping Profession
Helping professions can also be a great source of job security because of their growth. Those who enjoy helping professions especially appreciate working with others to provide support or guidance.
- Therapist – This role is growing at 14% and offers an average salary of $88,000. As a therapist you’ll guide and counsel people who are struggling with mental health challenges. Get started by obtaining a bachelor’s degree.
- Non-Profit Lawyer – The job of non-profit lawyer is growing at 10% per year and offers an average salary of $164,000, helping people with legal issues. Get started by obtaining a bachelor’s degree and a law degree and by passing the bar exam.
Find Job Security in the Arts
For those who are creative and musically inclined, you could also consider a role in the arts. While the area as a whole isn’t growing tremendously, the jobs of music director and composer are growing at a whopping 80% and have average salaries of $49,000. You can get started without a degree.
Achieve Stability
Job security can feel tenuous today, but you can create tremendous success for yourself both today and in the future—as you stay aware of the environment, trends and growth industries and as you perform, learn, grow and adapt.