Every job holder is familiar with the term job security. Most of us in the IT industry have suffered the mental torment of the lack of security in our day job at some point of our career. I am pretty new to this job market and struggling to keep up with the growing competition in the job market and price hike in my native market. This is a point of my career where I am going through a devastating mental state and a bad financial condition. I bet most of us entry level IT professionals face the same difficulties in their professional journey.
I am a 26 years old Software Engineer from a small developing country called Bangladesh. Our population is almost 180 millions. In our current economy labor cost is very low and and competition is very high. There are so many qualified candidates for any job you look at, specially in the newly growing IT sector. Most of the IT enabled service companies rely on foreign projects and outsourcing to run their business. The fact is it is really hard to run business with only local clients because of very low pricing of the products and services. So most of the startups and even established companies rely on international clients to run business here. Apart from a very few old and established companies most of the companies does not have proper funding for near future. They are uncertain about their next big project. Many companies even get shut cause they don’t get enough good projects to keep their business running. As a results most of the employees if not all of the employees loose their jobs. In such cases employees are terminated without any compensation and its not their fault. The employers are unable to keep them. This is the sad reality in the IT industry in my country and I think in many other countries.
What I have said so far was to give you people a general idea about the present job market and IT industry in many small and under developed countries. Now the term “Job Security” comes in question. Let me put two paragraphs from US Legal here.
Job Security is an assurance that an individual will keep his or her job without the risk of becoming unemployed. S/he will have continuity in employment and it may be from the terms of a contract of employment, collective bargaining agreement, or labor legislation that prevents arbitrary termination. Lack of job security refers to a situation where a person with a job would have a high chance of becoming unemployed.
Job security may depend on economy, prevailing business conditions, and the individual’s personal capacity. Employees have more job security in times of economic expansion and less in times of a recession. Normally, government jobs and jobs in education, healthcare and law enforcement are considered very secure. Private sector jobs are generally believed to offer lower job security.
Here we see that govt. jobs provide the most security and private sector jobs provide much lower security. In most of the cases IT sector is mainly controlled by private companies. There are government IT jobs available but those are very few in number and most of them in my country does not provide opportunity for career growth. All the challenging tasks are done in companies where foreign projects are developed and maintained. So a person who is passionate about technology and code, who wants to build a prominent career in the IT field and who is planning a future in this sector has no other choice but to work in the private sector. Well many developers or designer choose freelancing as a career but that is a whole different story than this. A permanent job is what most of us look for after we graduate. But a permanent job is not so permanent in case of an IT personnel. As a software engineer I find it really challenging to keep myself updated with new technologies and languages. But there is no alternative of constant learning if you are a programmer/ developer/ software engineer/ IT personnel. Your future depends on your skills. No matter how many years you have been working in a certain company if you can not show the expertise your employers expect you to have then your job is in danger. And you will definitely face a hard time finding another suitable job for yourself.
So, if you are not willing to learn new stuffs everyday and/or does not want to pursue your career in the tech field you better look for a different job or a govt. job with more stability and security. But if you are passionate about your work and want to move forward in life in this field then you better forget about job security. Cause it will make you feel invulnerable and you will eventually stop improving your skills. Which will cause a massive threat in near future and before you realize it you will be shattered and consumed by depression and frustration. When you will constantly improve yourself and develop your skills then those skill set will be your job security. You won’t have to find a job. Employers will find you and offer you jobs. Most of us will go there only by the insecurity of our current position. It will make us work harder and keep us focused.
That’s why I think Job Security is NOT good for us.