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Companies often treat employees as disposable assets, exploiting them until they no longer meet demanding work standards. This ethically questionable practice is widespread due to inadequate job security regulations, prioritizing profit over the well-being of citizens. A federal initiative to bolster job security is crucial not only for individual welfare but also for fostering economic growth.
Historically, the U.S. has embraced laissez-faire capitalism, resulting in at-will employment with minimal legal binding between employers and employees. The belief in competition as a driver for certain benefits has intrinsically favored companies, leading to the decline in the power of labor unions. However, this system, while idyllic in theory, disproportionately benefits companies and neglects the well-being of workers.
In a nation founded on the principles of a government “of the people, by the people and for the people,” prioritizing citizen protection is paramount. Federal regulation of the workforce is necessary to enhance overall well-being, addressing mental health issues associated with job insecurity. Stable employment not only alleviates anxiety but also contributes to societal harmony by providing jobs that benefit the community as a whole.
Moreover, the importance of job security is crucial to promoting economic growth. A study conducted by the Brookings Institution demonstrated that increasing work rates, unsurprisingly, leads to lower poverty rates. If consumers are secure in their employment, they are willing to spend more money, thus driving economic growth. They are also much more invested in their job, working harder and feeling more committed to their profession. Additionally, a study by the Washington Center for Equitable Growth confirms that job security helps both boost and stabilize the economy by reducing income inequality, promoting consumer spending and decreasing employee turnover rates. In times of economic turmoil, the workforce can stabilize by maintaining a steady consumer base that doesn’t stop spending, ultimately mitigating economic fallout.
Finally, improving job security fosters enhanced employee engagement. An article by Betterup, a company that aids other corporations in maximizing their performance, found that job security promotes employee engagement and reduces anxiety, allowing individuals to better work on their assignments. A study hosted by the NIH detailed that with proper corporate supervision and structure, not only is job stability beneficial in terms of unemployment and poverty, but it is also greatly beneficial to the well-being of individuals. Job security is linked to lower anxiety, lower risk of damaging behavior (suicide, alcoholism, etc.) and overall better worker life quality and expectancy.
A reformed system holds the promise of a content and prosperous future, fostering economic growth and improving employee engagement. Implementing job security measures enhances individual merit, ensuring fair employment terms and peace of mind. To achieve this, individuals can support political candidates that prioritize employee rights, correspond with elected representatives or engage in peaceful protests. All in all, improving job security is crucial to improving the current economic landscape.
