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The current business situation is associated with fast changing as well as unprecedented times. During his hard times, predicting the future of the organization is a very difficult task that is faced by most organizations. There are a very few bounds that are recognized by the turbulence that is associated with gaining a competitive edge and worse still very few that falls in the scope of hiring employees arena for their entire lives which forms very vital pillars that are responsible for encouraging creativity as well as innovation that is much needed in most organizations.
In case the business takes the trend of hiring employees throughout their lives, both sides, employer and employee alike would be at a disadvantage. The growth of the business would be affected, similarly the growth of the current employees as well as the growth of the young talents. The employees will always have a feeling of insecurity leading to inefficient performance in their duties. The motivation of he employees would also decline leading to a decline in the level of performance as well as their professional growth. The talented employees who handle challenging responsibilities would be significantly affected as they are denied opportunities of promotion in addition to monetary gains.
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Employees in the business are the resources of the greatest importance and therefore they have the potentials of bringing fortune to the company. It is important to consider the provision of training to the employees so that they can be productive and also retain their working positions if they do not earn promotion. This will reduce the chances of continuous hiring of the employees in the entire lifetime of the business.
There is a requirement for few employees at the time of recession that puts the business in a passive state in as far as international market is concerned. The competitors may take this advantage and take the market share of the company. It is therefore wise to engage the existing employees in training at this time rather than hiring new ones. The only justifiable reason behind firing the employees is their age and they are then replaced by new ones of younger age.