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Forever job... WTH? Login/Join 
always with a hat or sunscreen
Picture of bald1
posted
Okay, I'm an old fart and some of the newer "expressions" pass me by.

A recent local radio spot mentions "forever job" and I said to myself "what the...." Seems it's been in use for several years according to a google search despite this only just hitting my radar.

Frankly it doesn't make a lot of sense to me. Why you ask? Well a few decades back companies quit offering vested retirement programs in favor of do-it-youself 401k's. Yup the end of paternalist big business. That lead to less loyalty among employees and an increase in job jumping with folks moving from a couple companies they worked for during their lifetime careers to double digits. So again..."forever job?" WTF?

Maybe its the millennials spoofing their safe space dreams... who knows. <sigh>



Certifiable member of the gun toting, septuagenarian, bucket list workin', crazed retiree, bald is beautiful club!
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Posts: 10702 | Location: Black Hills of South Dakota | Registered: June 20, 2010Reply With QuoteReport This Post
Almost as Fast as a Speeding Bullet
Picture of Otto Pilot
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I think it points more to the idea of a job with some security and maybe even some benefits like medical, vacation and some retirement contribution.

Given the way the "gig economy" has proliferated (lots of part time or temporary jobs) there is a certain dream of having a single job that allows you to do what you want and allow you a certain amount of affluence. There's a stability and comfort in the idea of a job that if you bust your butt and do good work, it will be around in a few months...or years.

I don't think anyone is naive or blindly loyal enough to imagine working for a single company forever these days, but a little longer term employment is a goal that many are working hard for but still coming up short on.

Also, it isn't just Millennials. I have friends in their 40's and 50's that would dearly love a place to park and practice their craft until they retire.


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Posts: 11465 | Location: Denver and/or The World | Registered: August 30, 2004Reply With QuoteReport This Post
Oriental Redneck
Picture of 12131
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Forever job = employed by the government


Q


Cautious, careful, concerned, but cool and calm.......not irrational fear and unwarranted panic

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Posts: 19267 | Location: TEXAS | Registered: September 04, 2008Reply With QuoteReport This Post
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quote:
Originally posted by 12131:
Forever job = employed by the government


YUP, the only forever jobs I can think of are like School teachers, police, fire, city hall type of jobs.....
 
Posts: 19146 | Registered: June 12, 2005Reply With QuoteReport This Post
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Forever job = Politician.


End of Earth: 2 Miles
Upper Peninsula: 4 Miles
 
Posts: 9932 | Location: Marquette MI | Registered: July 08, 2014Reply With QuoteReport This Post
always with a hat or sunscreen
Picture of bald1
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Well to clarify, the radio spot was for personnel working at a senior living facility. They touted positions that might lead to becoming an RN with both increased responsibilities and education assistance as an example. The young gal in the spot proclaimed she liked the entry level job and environment so much that it promised to be her forever job as she developed experience and qualifications moving up the ladder.



Certifiable member of the gun toting, septuagenarian, bucket list workin', crazed retiree, bald is beautiful club!
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Posts: 10702 | Location: Black Hills of South Dakota | Registered: June 20, 2010Reply With QuoteReport This Post
thin skin can't win
Picture of Georgeair
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quote:
Well to clarify, the radio spot was for personnel working at a senior living facility.


Maybe they were referring to the residents rather than the personnel. Razz



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Posts: 10234 | Location: Madison, MS | Registered: December 10, 2007Reply With QuoteReport This Post
Only the strong survive
Picture of 41
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quote:
Well a few decades back companies quit offering vested retirement programs in favor of do-it-youself 401k's.
\

Vested????....YES...but you have to have worked there 7 years before you become invested. Mad


41
 
Posts: 10733 | Location: Herndon, VA | Registered: June 11, 2009Reply With QuoteReport This Post
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Picture of SR
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quote:
Originally posted by 41:
quote:
Well a few decades back companies quit offering vested retirement programs in favor of do-it-youself 401k's.
\

Vested????....YES...but you have to have worked there 7 years before you become invested. Mad


I'm not sure what you mean by invested (or if that was a joke that zoomed right by me). To me it sounds like you're saying you have to wait 7 years to be vested. That's not entirely correct. Hopefully this might be good news to you - you'll have something to show if you've been at your job at least 3 years. Let me explain.

There are 3 general options available to an employer when they design their plan. One option is graded vesting where the company’s contributions must vest at least 20% after two years, 40% after three years, 60% after four years, 80% after five years and 100% after six years. You have to be there to year 7 to get it all but you get something if you're there for a shorter period. (The vesting can be faster - I think the company I work for has a 3 year graded system but I don't remember.)

There is a cliff option - but in that case all employer contributions must be vested in a maximum of 3 years. (not 7)

Plans can use immediate vesting (and in some circumstances it's required).




Speak softly and carry a big stick loaded Sig
 
Posts: 4441 | Location: Raleigh, North Carolina | Registered: September 27, 2004Reply With QuoteReport This Post
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Picture of SR
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bald1 - I'm probably from your generation and hadn't seen this term until I read you post.

The move from defined benefit plans (those good old pensions) to 401(k) plans took place in the late 80s/early 90s. This was largely driven by a change in financial accounting rules that required a company to estimate the future cost of health care (remember there was also life time health care) and retirement benefits. Turns out the companies sort of forgot to set aside enough money to cover both. (Generally the problem was on the medical benefit side. There were rules in place to protect pensions - but companies tended to fund them at the lowest required level.)

Another driver for 401(k) was the growth of the stock market. Some argued they'd rather have the company money in a plan that they could manage because the market was so strong. (Pensions were defined and didn't change if there were strong returns from the stock market.) So there was a strong push from the workforce to expand 401(k).

The push for employee managed retirement was actually a worldwide event. Australia passed a rule that every employer had to contribute a minimum % into a retirement account for an employee. They use a different name but in effect it's a system of self managed IRAs. These are not employer specific plans - each employee tells the employer what brokerage or bank would handle their individual account. This was put into place in the early to mid 90s. (Google 'superannuation' for more info on Australia's system.)

I've thought that the drop in loyalty relates to the lays offs we saw companies make during the 90s and early 2000s. A saw an article (probably ~2005) that stated, for the first time ever, almost every person entering the job market had a parent, aunt or uncle, that had worked at a company for years but got caught up in a corporate layoff.

I think the layoffs are a larger issue in the decline of loyalty but realize there were a number of contributing factors.




Speak softly and carry a big stick loaded Sig
 
Posts: 4441 | Location: Raleigh, North Carolina | Registered: September 27, 2004Reply With QuoteReport This Post
Only the strong survive
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One place I worked, it was 7 years before you were 100 percent vested. It you left before than, you got a small percentage. I left after two years and got nothing. They also owed me $4000 in commission which I never got. It would have cost me $5000 for a lawyer.

Bendix owes me money from 1965 to 1968 when I worked there but have had no success so it is gone. The interest alone would have been a lot. Mad


41
 
Posts: 10733 | Location: Herndon, VA | Registered: June 11, 2009Reply With QuoteReport This Post
always with a hat or sunscreen
Picture of bald1
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quote:
Originally posted by SR:

I think the layoffs are a larger issue in the decline of loyalty but realize there were a number of contributing factors.


No question that there were multiple factors at play. I recall many of those layoffs, the worse of which targeted older employees nearing retirement where their pensions took at hit. Companies were motivated to reduce costs and hire newbies who could be paid much less than older experienced personnel. I simply focused on the job jumping loyalty bit in response to the "forever job" term. Big Grin



Certifiable member of the gun toting, septuagenarian, bucket list workin', crazed retiree, bald is beautiful club!
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Posts: 10702 | Location: Black Hills of South Dakota | Registered: June 20, 2010Reply With QuoteReport This Post
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I was at software and computer consulting firm that had layoffs almost every year (10-30 people out of a total of 250). Everyone was on pins and needles all the time.


Another place had 3 layoffs in 4 years. Within a year of the last layoff senior management was asking for input to explain drop in loyalty/job satisfaction. (We get an annual survey.) duhh... you layed off peoples friends and I'm worried I'm next. Oh, and you forgot that after the second layoff, senior management assured everyone Absolutely No Additional layoffs. (Yep, your team CAN read lips and management's credibility was zero.)




Speak softly and carry a big stick loaded Sig
 
Posts: 4441 | Location: Raleigh, North Carolina | Registered: September 27, 2004Reply With QuoteReport This Post
Don't Panic
Picture of joel9507
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I guess I thought 'forever' just meant it wasn't a temp job or an internship.
 
Posts: 12880 | Location: North Carolina | Registered: October 15, 2007Reply With QuoteReport This Post
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When I was about 17 a family friend told me they would be retiring from the post office in 2 weeks. He'd been there 20+ years. I said 'I bet it will feel weird to clean out your locker after all that time.' He said he never thought he'd stay another 6 months so never got a locker. Imagine, thinking you'll only stay a few more months and then getting to the 20 year mark.

Sometimes what we think might be a short time job last longer than a perm job. LOL




Speak softly and carry a big stick loaded Sig
 
Posts: 4441 | Location: Raleigh, North Carolina | Registered: September 27, 2004Reply With QuoteReport This Post
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I've heard the term but not thought too much about it. I thought it meant "the job you've wanted forever".


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Posts: 17459 | Location: 18th & Fairfax  | Registered: May 17, 2003Reply With QuoteReport This Post
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When I was 21 I got a job at a major utility company in eastern PA. When I told my dad he said "you are set for life". I knew then that wasn't true. That was 1976. Forever jobs are forever gone.

Unless AOC takes power than all people will have well paying jobs forever. Na Zdorovie Comrade!
 
Posts: 297 | Location: North of Pittsburgh, PA | Registered: January 29, 2013Reply With QuoteReport This Post
Experienced Slacker
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Pardon the drift, but this is a great spot for me to brag on a relative.
A few years ago one of my Aunts retired from the small community hospital in the town she grew up in - after 50 years.

She is the only person I know that can say something like that.
 
Posts: 6346 | Registered: May 12, 2004Reply With QuoteReport This Post
always with a hat or sunscreen
Picture of bald1
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quote:
Originally posted by apprentice:
Pardon the drift, but this is a great spot for me to brag on a relative.
A few years ago one of my Aunts retired from the small community hospital in the town she grew up in - after 50 years.

She is the only person I know that can say something like that.


I've known a few too. Amazing considering. Smile



Certifiable member of the gun toting, septuagenarian, bucket list workin', crazed retiree, bald is beautiful club!
USN (RET), COTEP #192
 
Posts: 10702 | Location: Black Hills of South Dakota | Registered: June 20, 2010Reply With QuoteReport This Post
Learn it, know it, live it
Picture of 1lowlife
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I got hired at UPS 3/6/1986 at 26 years old as a package car (delivery) driver.
Went into Feeders (Semis) in 1994.
Today is my 34 Year anniversary.

I'll probably do another 5 years or so.
Hopefully retire at 62.
Hopefully have my pension.
Hopefully have my social security.

Pretty much my 'forever' job.... Big Grin

But as the OP stated, I don't think it is a thing so much now... Confused


Thanks..
 
Posts: 4078 | Location: Great State of TEXAS | Registered: July 05, 2008Reply With QuoteReport This Post
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