Job stability is an important consideration for many people when they are looking for a new position. Likewise, it can also affect your decision as to whether to stay with a company or leave. These push and pull factors vary in importance to different people, which is why we’ve put together this guide on factors to consider when looking for a new role. First, it’s important to consider how important job stability is to you. Secondly, this article will help you determine things to look out for which suggest good stability.

How important is job stability to you?

The first question to ask yourself when seeking a new position or deciding to stay with a company, is actually how important is job stability to you? If the thought of risk leaves you cold, especially where your job is concerned, then look for well-established companies that demonstrate year on year growth.

If you’re happy to take a little more risk and you feel that job stability is not a deciding factor for you, then maybe a start-up is more suited to your goals and personality. The potential for job insecurity with a start-up is greater, but so too is the chance to make a real impact and shape the company. Plus, as any investment banker will tell you, the greater the risk, the greater the potential reward. If you weigh up your options and find that a greater degree of risk, or uncertain job stability in this case, is something you can live with, the rewards may pay off in the long run. The key is really knowing what you’re comfortable with, and how important stability is to you and your lifestyle.

Good indicators of job stability

If you’ve established that a lack of job stability would put you off working for a company, there are some important factors to consider.

Key Performance Indicators: KPIs are something we’re all familiar with in our jobs – they give vital clues about how we are performing and where we could improve. The same can be said for businesses. When considering employment with a company, look out for factors such as profitability and year on year growth. Recruitment drives, or other proof that a company is expanding, also indicate the business is performing well and that the prospect of a stable job is good.

Company benefits: A company that offers an attractive benefits package to its employees suggests that they want to attract the best and keep them; in turn that suggests your job will be stable over the long term. Look out for things such as a generous pension contribution scheme, help towards childcare costs or discounts on things that are important to you, such as health insurance. The most important thing is that the benefits match up to what is important to you, otherwise it’s unlikely they will entice you to stay with a company.

Training: Evidence that a company invests in training is an important factor to consider when evaluating job prospects. It costs time and money for a business to train staff, suggesting firstly that the company is financially stable enough to do this. Secondly, highly trained, skilled employees are valuable assets in their own right; if the company puts that effort into training it suggests that your position is more secure in the long term. Look out for companies that actively take steps to train people at all levels: from apprenticeships, opportunities for development and the chance to undertake secondments for senior leaders. A culture of training across all levels of the business indicates a company is laying the groundwork for the future and is here for the long haul.

Flexibility: There are many things that can happen suddenly which might throw a stable company into some degree of disarray. Client demands can change almost overnight, and so can the needs of employees. New technology, political or economic developments can all put pressure on businesses that have hitherto performed well, as has been demonstrated by Brexit. A company’s ability to deal with these sudden shockwaves and ride them out affects their long-term success and your job stability. Companies that are flexible and can cope with these changing circumstances are likely to be the best choice when searching for your next opportunity.

Location: Ok, so this one’s a bit of curveball, as it’s less about what the company can do to prove its stability, attract and retain you, and more about factors in your life outside of work that may impact your decision. It’s important to consider whether working for a company might mean a significant commute and eat up more of your day. Or on the plus side, does it mean your commute will be slashed in half, giving you more free time? What about lifestyle factors: is it close to your gym, your partner’s place of work, or your children’s school? If any of these factors aren’t fulfilled in the way that you’d like by your employment, you may feel restless and the outcome will be the same as if you had an unstable job: looking for work again.

Weighing up job stability

There are many factors which may push you away from one company or pull you towards another. This blog outlines some key points to consider about whether a company is stable and how that translates to the security of your job. Ultimately though, how important any of these factors are, and which apply to you, is down to you. As the final point on location demonstrates, job stability is one aspect that makes up the many push and pull factors when searching for a new position. How that stability interacts with the rest of your life is likely to be a contributing factor to your decision: the most stable job in the world may quickly lose its appeal if the commute is unbearable. Make sure you consider what you want from a job as a whole, and what job stability means to you.

If  you are currently on the hunt for a new job, get in touch today on 01772 259121 to see how we can help you.

Have a look at all our current vacancies and if you feel that you are right for any of the roles, get in touch.

Love or hate to talk about it, there’s no getting away from that infamous “B-word”.

Brexit has been dominating our headlines for over a year, leaving in its wake a trail of uncertainty and questions raised over the future of businesses right here in the UK…and in particular, the future of EU workers.

In recently leaked documents, it seems the government will be taking a hard line towards EU workers, extending rules that currently only apply to non-EU migrant workers.

In a two-fold proposal, access to the UK jobs market could be markedly restricted; firstly by closing access to low-skilled jobs for EU nationals, and secondly by only allowing EU nationals to apply to jobs paying a minimum of £30,000.

So where does that leave our UK businesses?

This will no doubt have a big hit on our economy – for many industries, including those in tourism and manufacturing, more than 90% of migrants currently working in the UK will no longer be eligible under the new proposals.

It’s certainly a worry for businesses that rely on foreign workers to keep their sectors functioning, and only puts more pressure on the government for a practical plan to be put in place for the post-Brexit UK labour market.

The question over whether the post-Brexit immigration rules will create a skill shortage, and a demand for workers that our own labour market may not be able to meet, is a serious one…and of course, the true impacts on the economy will remain to be seen.

Other options for labour relief are few and far between; while automation has been put forward as a viable alternative to a reduced labour pool, the reality is that this will likely prove too expensive an investment for many SMEs.

How then, can businesses recruit from a reduced post-Brexit labour pool?

Despite concerns over staffing issues, and a no-doubt a drastically reduced pool of potential workers, it isn’t all doom and gloom. Certainly, there will be new challenges to overcome, but there is no reason why many UK businesses won’t be able to recruit as successfully post-Brexit as they were before the election took place.

The principals of recruitment remain the same; you need to be able to find the best talent out there that is best suited to your roles…and that means having the right people on board that can help you find it.

If you have concerns over the impact Brexit might have on your staff, or would like to know more about how we can help you source the best possible talent for your vacancy, feel free to get in touch with the team here at Clayton Recruitment – we’d be more than happy to help.