This report seeks to answer several basic questions concerning the employment situation in the Netherlands. The focus is on flexicurity, in other words the combination of secure and flexible employment from a lifetime perspective. Ultimately, secure employment comes down to employability, to a worker’s employability throughout her career, whether she works for one employer or for more than one.A single career may span many employers and many functions and jobs, according to the preferences of workers and companies. Flexibility seeks to adapt employment to the needs of the employing organisation, and thus to provide three key elements: employability for the employee; adaptive employment for the company or organisation; a system of social security enabling the employee to make the required transitions. Employability requires training and development, work of a quality to improve the skills of the employee, and a balanced combination of work, care and leisure, enabling the employee to maintain continuous participation in both work and other areas of life. From this perspective social security should not merely make work pay, it should also make transitions pay, whether these are from one job to another, one employer to another, one level of skill to another or from one combination of work and care to another.