404 Not Found

nginx
- Dailymart.pk : Pakistan’s Trusted Online Marketplace for Fashion, Electronics, and More Syed Asim Raza Bukhari

Precarious Positions: The Job Insecurity crises in Pakistan

September 22, 2024 / by Syed Asim Raza Bukhari / in Business
Post Views: 21

Imagine working for 16 years in the IT department of a frontline company in Pakistan. At 45, you’re well-established in your career, confident in your abilities, and secure in your position. Then, one day, you receive a call: your services are no longer required. The HR department will send you a one-month notice. Suddenly, everything you’ve built—your job, routine, and financial security—comes crashing down. This scenario exemplifies the job insecurity crisis in Pakistan, where long-serving employees are often blindsided by abrupt terminations, resulting from economic pressures, internal biases, or ineffective HR policies, further destabilizing an already fragile workforce.

This scenario is more common than you might think. Job insecurity has become a widespread issue in Pakistan, affecting millions of workers across various industries. It leaves employees uncertain about their future, forcing them to confront the possibility of losing their primary income with little warning.

This post will explore the causes, impacts, and potential coping strategies for job insecurity, particularly within Pakistan’s current economic and political landscape.

The Perfect Storm: Causes of Job Insecurity

In Pakistan, several factors contribute to the rising job insecurity that workers face:

  1. Economic Instability:
    Pakistan has been struggling with economic downturns, inflation, and devaluations, which put immense pressure on businesses. Many companies are resorting to cost-cutting measures, including downsizing, to survive. This has a direct impact on employees, especially those in long-term service, as they are often seen as expensive assets in times of financial distress.
  2. Globalization and Outsourcing:
    Although Pakistan’s workforce is highly talented, many multinational companies are now shifting their operations to countries with even cheaper labor. This trend has led to a loss of jobs in local markets, especially in industries such as manufacturing and call centers.
  3. Political Instability:
    Frequent political changes, policies, and inconsistent economic plans have affected job stability in Pakistan. Industries dependent on government contracts, such as construction and defense, often face hiring freezes or layoffs during political transitions.
  4. Workplace-Specific Factors:
    Within the workplace, various internal factors contribute to job insecurity. These can include:
  • A manager’s personal biases: Favoritism or unequal treatment based on personal preferences, which may lead to unfair dismissals.
  • Recency bias: Where an employee’s recent performance overshadows their long-term contributions, potentially resulting in layoffs despite years of solid work.
  • Religious conflict or bias: In some workplaces, religious discrimination can lead to an unhealthy work environment where employees fear losing their jobs due to their beliefs.
  • Coworker leg-pulling: Office politics and internal power struggles may result in unjust dismissals or employees being sidelined.
  • Ineffective HR departments: HR’s inability to address these issues effectively can exacerbate job insecurity for employees.

These issues combined create a challenging and often unstable job environment.

The Human Cost: Impact of Job Insecurity

Job insecurity doesn’t just affect one’s employment status; it has a ripple effect across various aspects of life:

  • Financial Impact: The most immediate consequence is financial instability. Job loss can lead to reduced income, difficulty in covering daily expenses, and a depletion of savings meant for emergencies.
  • Psychological Impact: Prolonged periods of job insecurity can cause anxiety, depression, and low self-esteem, as individuals constantly fear being let go.
  • Social Impact: Financial struggles due to job loss can strain relationships at home, leading to family tensions and, in extreme cases, contributing to increased crime rates or social unrest.

Taking Control: Coping Strategies for Job Insecurity

Although job insecurity is often out of an individual’s control, there are ways to build resilience and protect against its worst impacts:

  1. Skill Development:
    In a competitive job market, keeping your skills up to date is essential. Whether it’s learning new software, management techniques, or even a new language, continuous learning can make you more valuable to employers. It’s also crucial to diversify your skillset to make yourself adaptable to different roles or industries.
  2. Networking:
    In today’s job market, it’s not just what you know but who you know. Building and maintaining strong professional relationships can open doors to new job opportunities. Attend industry events, join professional associations, and keep your LinkedIn profile updated and active.
  3. Financial Planning:
    Set up an emergency fund with at least 3 to 6 months’ worth of living expenses. This cushion can help you weather periods of unemployment or reduced income. Additionally, creating a secondary income stream—whether through freelancing, consulting, or small business ventures—can provide additional financial security.
  4. Entrepreneurship:
    If job insecurity continues to rise, consider starting your own business or side venture. Whether it’s an online store, a service-based business, or offering your expertise as a consultant, entrepreneurship can provide not only financial independence but also a sense of control over your career.

Breaking the Cycle: Government Initiatives

While individual efforts are essential, addressing job insecurity also requires broader structural changes. Government initiatives can help improve job security through:

  • Promoting Economic Growth: The government can invest in key sectors like technology, education, and infrastructure to create more stable job opportunities.
  • Implementing Social Safety Nets: Programs such as unemployment benefits, vocational training, and job placement services can help workers transition during tough economic times.
  • Supporting Skill Development: Government policies should focus on providing affordable education and training programs that equip the workforce with skills needed in high-demand industries.

Conclusion

Job insecurity is a complex and growing issue in Pakistan, affecting individuals across industries and age groups. Whether you’re a 45-year-old IT professional suddenly facing job loss or someone just entering the workforce, the fear of losing a stable income is real.

But while we may not be able to eliminate job insecurity, we can take steps to manage it. By staying informed, continuously developing our skills, and building financial safety nets, we can gain a sense of control over our future—even in uncertain times.

Have you experienced job insecurity or fear it might affect you? How are you preparing for a more financially secure future? Share your thoughts and experiences in the comments below!

Additional Resources

  • Pakistan Bureau of Statistics: Labor Force Survey
  • World Bank: Pakistan Overview
  • International Labor Organization: Job Security in Pakistan
Syed Asim Raza Bukhari

Syed Asim Raza Bukhari

Main Menu