Lifetime employment also means permanent employment which is common in big Japanese companies and government organisations in Japan. Lifetime employment started about 90 years ago. Then employees were hired in the same company until they retire. The precondition of lifetime employment was without a bankruptcy. Many big companies actually did not go bankruptcy for long years when lifetime employment started. The custom of seniority-based salary also started with lifetime employment. When these started about 90 years ago, many workers changed their jobs to get higher salary after they mastered good skills. However, companies wanted their workers to stay since they have been educated about a lot of things regarding the company. Workers stayed in the same company as long as they got enough salary, skills and they promoted. It made companies get profit and grow for long years. That is why both workers and companies enjoyed the benefits of lifetime employment and it continued for long years.
Related post : https://www.enjoykansailife.com/blog/lifetime-employment