We are living in a time that we see many individuals working in what we call the “Gig Economy”. This can be defined as a labour market which is characterized by short term contracts and freelance work as opposed to permanent and long-term jobs. While this does have some perks including learning about various industries and freedom to work remotely, today we will be outlining the benefits of long term work, and sticking with one company! Keep reading below to learn more!
The first and most obvious reason to maintain tenure with your company is to gain seniority! With seniority comes more opportunities to move up in the company, continue to learn more skills and gain more leadership opportunities. Many executives are looking to promote internally before looking to outside job seekers, and if you have been with the team for a while and have put in the work, you are more likely to get promotions. More seniority also comes with other perks such as increased benefits, vacation time and other opportunities!
In life, we often find ourselves in unstable waters. If you are constantly moving jobs, you could also be moving cities, relocating for work an uprooting your life. This can lead to increased levels of anxiety and stress. If you are always on the move, it is also more difficult to make long term life plans!
With a longer tenure, you are more likely to get promotions more often, which will lead to an increased salary! You will also often get yearly performance reviews from the managerial team which often come with salary increases each year. Some companies also offer additional benefits that come with tenure including service awards or company stocks!
This can be considered two different ways! If you have gained tenure within your company, you will be seen as dependable, reliable and valuable, which all are excellent qualities to have in an employee. On the flip side, if you are ever in need of new employment, and your resume shows you have worked with companies for a long time, recruiters will look favorably on that, and you will have a higher chance of getting hired!
With an increased tenure comes increased job security! If you have been with the company for multiple years, you are more likely to keep your position should something happen with the economy. In poorer economic times, the newest employees are the most likely to be laid off. If you have proven your value add to the company for a long time, you are more likely continue working through tougher times than employees who have just joined the company!
People Store is always here to help, no matter what kind of employer or employee you are looking for! Contact us today and let’s see how we can help you!