Are there any good metrics an employee can calculate to determine job stability, and the pressing need to look for other work.
In a personal finance course I recently came across the notion of income commutativity and income volatility. The former is akin to what I'm asking about, but not the same. I've also come across employability ratings and such.
But it got me thinking about how I can decide of my current job, given my time served, rank and position, pay compared to others, my credentials, productivity, reliability, the current state of the market, the industry, etc., whether or not the employer is looking to hire or looking to cut hours, etc. How can I factor this in to decide of my job is stable or if I should be beginning to look for work elsewhere.
It might seem rather convoluted but a lot of the metrics in a personal finance course usually are. The teacher doesn't know of anything that fits my bill, but if any of you do, please. It doesn't have to be a super accurate rating, just something semi-empirical from which to base certain financial decisions.
Definition: Income commutativity is basically a measure of your ability to get a new job of equal or greater pay. Income volatility is essentially how unreliable your take home is, if fluctuates a lot. I've come across a few employability ratings, including how long it takes to land a new job of equal or greater pay. These aren't all defined consistently either. Not really relevant. I'm trying to measure how stable my current employment is