دانلود رایگان مقاله انگلیسی ارزش امنیت شغلی: آیا داشتن آن مهم است؟ - اشپرینگر 2017

Abstract

In this paper we analyze the preferences about job security using tools from behavioral economics. We focus on the non-pecuniary value of job security and specifically whether this value depends on the current position of employees as tenured or nontenured. Using a sample of 107 Israeli social workers, randomly allocated between tenured and non-tenured positions, we demonstrate that the non-pecuniary value of job security is about 20% of the wage. We also found that this value depends on the point of reference of the employees. Those with tenure place a higher value on job security, as do those with a higher level of loss aversion.

5 Conclusions

As far as we know this paper makes the first attempt to estimate the value of job security while controlling for behavioral factors. We also analyzed how actually having a tenured position versus a non-tenured one affects the value of job security.

We found that the average value of job security is about 2000 NIS (about 20% of the base wage of the worker) and that the value of the status quo bias is about 1000 NIS (about 10% of the base wage of the worker). For tenured workers the average non-pecuniary value of job security is significantly higher than for non-tenured workers (2600 NIS compared to 1400 NIS).

We also found that the status quo bias is significantly higher among tenured workers (estimated at approximately 1500 NIS, which represents approximately 14.5% of their starting wage) than non-tenured workers (estimated at 550 NIS, which represents approximately 5.5% of their starting wage).

Furthermore, the move from tenured to non-tenured positions is not symmetric. Employees require about 30% more to move from a tenured to a non-tenured position. In contrast, the premium for moving from a non-tenured to a tenured position is much lower and stands at 14%. This finding confirms our hypothesis that the employees’ initial position is significant when attaching a value to job security. Furthermore, the regression analysis demonstrates that loss-averse employees attach greater value to job security.