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Some companies believe that hiring workers for a lifetime is beneficial for their business since they can retain talents in their company and they will have job security. Organizations have realized this practice can adversely affect workers’ performance and career options. The world is filled with both good and bad people, so even if the company is going to hire the employees for a whole life, they should still leave room for recruiting new talents.
Advantages of hiring employees for a whole life
Job security
Both the company and the workers will have permanent job security, which will put their minds at ease, and it will be easy to plan for the future.
Prevent workers from job hunting
As a worker, you may occasionally look for better work. Still, with a permanent working contract, instead of spending your time looking for other jobs, you can utilize the minutes to do something productive.
Easier to plan your future
With job security, you can easily plan your family life, decide when to purchase a home, do schooling for your children, etc.
Disadvantages of hiring employees for a whole life
Eliminate competition
One of the elements that enhance performance in an industry is competition. Since the workers know that they will remain in the company forever, they will feel relaxed, and they might not work efficiently to make sure they keep their jobs and strive for promotion.
It will be impossible to change the work
Another disadvantage of retaining employees for a lifetime is that it isn't beneficial to the workers since they will never have the chance to change their job regardless of how dissatisfied they are with the current one or if they don't feel the career suits them.
It takes time to find satisfaction
Generally, everybody has their dream job and where they are striving to reach in the future, so being bound in one place for their whole life will look scary to them; after all, it will at least take them a few years to find a professional niche, a job they are satisfied with and will then provide them with the critical feedback and fulfillment.
It may change the employment process
Staying in one place for an entire life determines that person's future. So assuming the company is doing well, this can lead to corruption because the recruitment managers can choose their people for the role rather than the company's interest.
Conclusion
In conclusion, recruiting workers for an entire lifetime has advantages and disadvantages. The benefits of this concept are that it will provide the company with job security, and they can plan for their future. However, this method has some setbacks; it may not sound like a good idea because not only will it deprive the workers of the many opportunities of looking for something better, but it will also make them relax without aiming to improve and may likely lead to complacency and corruption, so weigh your pros and cons before choosing the method.