I do not agree to businesses hiring employees for their lifetime. There are facts to consider for the business, current employees as well as talent improvement in the youth which discourage lifetime employment.
The growth of employees depends on the motivation they receive while on employment. However, when employees are hired for their entire life, they lack work motivation which usually comes in terms of promotions, transfers and changing of jobs.
Moreover, any business growth depends on the input of its employees as motivated by the desire to maintain their employment. Therefore when employees are guaranteed of their security, their input would be reduced and business would not develop.
Finally, the young graduates from colleges who are seeking meaningful employment would suffer if the businesses employed people for their entire lives. This means that they can only secure jobs whenever the current employees retire or resign from their jobs and as such will not earn a living for their families and themselves.
In conclusion it is not good for businesses to hire employees for their lifetime because it discourages the growth of business and employees. Moreover, it causes lack of talent and career development for the unemployed youth.