There is a hot topic for discussion where I work at the moment and it revolves around pay rises and job security. You see the company that I work for is currently undergoing negotiations with various unions as to the working conditions that staff will be covered by for the next few years.
Traditionally it has been a bit of a nonevent, and most of the time both the company and the unions agree on a way forward. However this year things are different. Economic conditions have changed and one of the things the company wants to introduce is less job security, but also a consistent wage rise year on year. It is my understanding that the unions representing the staff want to keep the existing conditions including the job security, but sacrifice future pay rises.
Now i’m not going to go into any more specific details on the agreement being formed, but it is an interesting question – What’s more important – pay rises, or job security?
I’m a little bit torn as to the answer, in one corner I feel that job security is paramount, especially considering that we are a single income family embarking on building a new house. But on the other side, wage increases are an important part of staying ahead of inflation and extra money is never something to dismiss.
It also seems that no matter who I talk to there are almost equal numbers of people sitting on either side of the fence. Many love job security, while others lust after more money. What I have noticed is that people who are older tend to be more interested in job security, while the younger generation consider wage growth their number one priority. I suspect this is because the older generation are far more financially secure than those people in their 20’s or 30’s, and so earning more is less important. The flip side of that is that younger people are likely to be more employable than older people, and so they have less to worry about should they lose their jobs.
So my question is this – what is more important to you? What would you consider if you had to make the choice?