Description
Employment security is under pressure in public and private sectors because of fluctuating economic conditions and unstable markets. According to the author of this text, the proponents of employment security have been lacking in substantive evidence justifying its existence. The majority of big business explicitly displays its disbelief in the practice through employee lay-off at first sign of economic adversity. Lay-offs are shown to create and prolong a number of socio-economic problems for society. Lack of employment affects personal ego, personal and family stress, and self-identity, as well as financial and economic factors associated with basic needs and success. The analyses of data provides focus on intangible and difficult-to-identify criteria such as employee morale and company loyalty. Productivity and financial ratios are also identified, analysed and compared. The author continues to review recommended and widely-used strategies. Strengths and weaknesses are analysed and compared, and successful national and global application of strategies is cited. The evolving corporation of the 21st century is reviewed to discern its needs, and to determine applicability of employment security to public or private enterprise.
