The article focuses on the theoretical and methodical understanding of employment precarization as one of the consequences of the transformation of social and labor relations. In the study, we suggest considering this phenomenon in a conceptual relationship with the category of “precarious employment” for their logical interaction (process-result). The analysis of the current state of research shows the presence of theoretical and methodical pluralism concerning the interpretation of employment precarization. Our study considers it to be a process of transformation of labor relations, that consists of reducing the stability of workers due to the assumption of the risks associated with the organization of labor activity, resulting in adverse consequences at the individual, organizational and public levels. It is shown that owing to the vagueness of the conceptual framework and limited information base, every study solves these problems in its own way. However, it seems possible to focus less on the differences in methodological tools and more on the significance of theoretical understanding the phenomenon employment precarization, which will allow to switch to a higher level of generalization and scientific conclusions. The discussion outlines the provisions proposed to be taken into account while studying precarization, and, in particular, precarious employment as a result of this process.