Abstract
The purpose of this paper is to examine perceptions of job insecurity among employees, applying a panel model that allows us to account for the business cycle. In addition, the data will enable the comparison of two measures of job insecurity, one with a cardinal scale, and one with an ordinal scale. First of all, this paper carries out a descriptive analysis of job insecurity, taking into consideration two empirical measures, and using a panel data set from the longitudinal Swiss Household Panel (SHP). Second, an ordered probability unit (probit) model is applied, analyzing both workers’ concerns about job loss, and their subjective job security. Controlling for differences in socio-demographic and job characteristics, estimations show that perceptions of job security affect workers heterogeneously. This study contributes to the literature by revising variables that help to explain the formation of job insecurity perceptions.
Highlights
Studies conducted at the European level found that the performance of the worker is deeply influenced by the perception of job insecurity that alters their physical and psychological well-being [1,2], as well as the workers’ job satisfaction and general employment loyalty [3]
Labor market flexibility, job security and their mutual relations are a lively policy issue [6,7]: Investigating the perception of job insecurity is important for several reasons
In order to take into consideration the variation, over the business cycle, of different factors to perceptions of job insecurity, and according to the literature [39], two different types of analysis were conducted
Summary
Studies conducted at the European level found that the performance of the worker is deeply influenced by the perception of job insecurity that alters their physical and psychological well-being [1,2], as well as the workers’ job satisfaction and general employment loyalty [3]. The perception of job insecurity may demotivate workers to invest their time and financial resources in education and training, as opposed to the acquisition of additional firm-specific human capital [4]. The perception of job insecurity can directly affect consumption and employment, having, a negative effect on the worker’s side in bargaining [5]. Labor market flexibility, job security and their mutual relations are a lively policy issue [6,7]: Investigating the perception of job insecurity is important for several reasons. Studying the criteria of efficiency and effectiveness to be applied to labor market policies, one cannot, fail to know in detail the regional labor market, the skills level and the degree of dynamism and security of labor markets
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