In the past many people enjoyed life long tenure at their jobs, but today people have fixed period employment contracts.

现在的工作大多是合同制，不像原来，一干就是一辈子。

youdao

One alternative would be to replace tenure with long-term, renewable faculty contracts.

FORBES: Attacking Higher Ed Cost Inflation: Reform Academic Employment Policies

The group diversified into engineering contracts as well as projects in the oil and gas, marine and rail sectors under his tenure.

WSJ: Tata Sons Appoints Successor