A plan provided by an employer to assure eligible employees a minimum amount of work or pay during the year. Employees must meet certain requirements such as willingness to change activities or to work overtime when needed.
Job security refers to the probability that an individual will keep their job; it is the assurance that an employee has about the continuity of gainful employment for their work life.
Lifetime security refers to a form of employee job security that guarantees protection against layoffs during economic slowdowns or plant closings.
Tenure is a term that spans diverse fields such as property ownership, employment, and academia. It denotes ownership rights, job security contingent on length of employment, and academic privileges that safeguard freedom of speech and employment continuity.
