The case for job hopping: 4 good reasons to go
Fed up with your current position or thinking about jumping ship for a more lucrative opportunity? Here are a few reasons why that may not be such a bad idea.
This post comes from Allison Martin at partner site Money Talks News.
Convinced that you should remain loyal to a job, even if you absolutely loathe the thought of being there each day? Maybe a better opportunity is at your fingertips, but you fear the long-term consequences of making the move.
It may be time to adjust your mindset: The days of hiring managers frowning upon the resumes of those with cameos in the workplace are coming to an end in a number of industries.
A press release about a recent survey by CareerBuilder said, "More than half (55 percent) of employers surveyed said they have hired a job-hopper and nearly one-third (32 percent) of all employers said they have come to expect workers to job hop."
According to the survey, the industries where job hopping is most common are:
- Information technology -- 42 percent of employers expect employees to job hop.
- Leisure and hospitality -- 37 percent.
- Transportation -- 37 percent.
- Retail -- 36 percent.
- Manufacturing -- 32 percent.
However, job hopping is something that's considered more acceptable from younger employees. CareerBuilder said:
While employers may be more accepting of job-hoppers, their expectations still tend to vary based on the candidate's age. Forty-one percent of employers said that job hopping becomes less acceptable when a worker reaches his/her early to mid-30s (ages 30 or 35). Twenty-eight percent find job hopping less acceptable after the age of 40.
With all of this in mind, here are some arguments to strengthen the case for job hopping:
1. Longevity = lower pay
It appears that loyalty is overrated, especially if you want to increase your income.
Cameron Keng, a contributor to Forbes, says the average raise this year will be 3 percent, which he said really amounts to less than 1 percent after inflation is factored in. But those who change jobs will end up getting a much more substantial bump in income. He adds:
In 2014, the average employee is going to earn less than a 1 percent raise and there is very little that we can do to change management's decision. But, we can decide whether we want to stay at a company that is going to give us a raise for less than 1 percent. The average raise an employee receives for leaving is between a 10 percent to 20 percent increase in salary. Obviously, there are extreme cases where people receive upward of 50 percent, but this depends on each person’s individual circumstances and industries.
So, what incentive do you have to stay if money is your motive? My point exactly.
If you accept the recession as a reason to settle and take the loyalty route, you may miss opportunities that are far more lucrative.
2. The quest for clarity
What do you want to do with your life? If you have yet to answer that question, sticking around at a job that you hate probably isn't the wisest thing to do. In fact, loyalty has the potential to hinder the process of finding your calling, which could lead to bigger issues, like depression, later on.
3. Increased demand for talent
More than ever, companies are scouring through the piles of eligible candidates for those with the most impressive skill sets that can boost their bottom lines. They're willing to spend money to get them on board.
(M)any companies are starving for skilled workers -- and may pay as much as a 25 percent salary increase for a 10 percent increase in employee productivity. The very businesses that have lowered the raise norm have set up their high performers to hop jobs for better pay.
Adaptability is a good thing. Some recruiters value it because it means you're willing to conform and use your array of knowledge and experience to advance their organization. Versatility also means you are able to adjust to a variety of personalities and company cultures without sacrificing performance.
Just be sure you're prepared to handle the challenges that come with new terrain.
While there are pluses to job hopping, there are drawbacks, too.
The last thing you want is management fearing that you'll become disengaged at some point and jump ship like you've done at your last few jobs. Too many short jobs on your resume could make some managers unwilling to hire you.
The CareerBuilder survey found that "43 percent of employers won't consider a candidate who's had short tenures with several employers."
And their worry isn't baseless. Contributor Jeanne Meister wrote at Forbes:
Talent acquisition managers and heads of human resources make a valid case for their wariness of resumes filled with one- to two-year stints. They question such applicants' motivation, skill level, engagement on the job and ability to get along with other colleagues.
These hiring managers worry they’ll become the next victims of these applicants' hit-and-run job holding. For companies, losing an employee after a year means wasting precious time and resources on training and development, only to lose the employee before that investment pays off. Plus, many recruiters may assume the employee didn't have time to learn much at a one-year job.
The decision to job hop ultimately depends on your industry and personal preferences. If you are struggling to make ends meet or saddled with debt, it may be in your best interest to go for a more lucrative opportunity. Keep in mind that it's generally acceptable when you're young and new to the working world.
On the other hand, if you can ride the wave, then relax and get those years in so you can establish a track record as a stable and serious employee.
More from Money Talks News
Times in the workplace have changed from a loyal-friendly environment to hopper-friendly environment.
Those of us in the millennial generation have already seen the disadvantages of being loyal and sticking around at the same place for too long. We have seen our parents get laid-off their jobs after 25+ years of being loyal. After 25 years of being there and working hard... and they still put your name down to let you go... In the end it was really about the money.
Then when our parents were unable to get a new job, they realized that their lifelong job had funneled their skills into something that could not be used elsewhere. Very unfortunate for these individuals.
We have to keep reminding ourselves: For the business/corporation, in the end it is all about the money. Loyalty does not pay off anymore these days.
The argument that the young job hop holds merit, as we have created a generation of people who see life in terms of short term gains. What the study did not take into account is the life reasons a person may have to job hop at an older age. My husband died when I was 38, and I had four children three teens and one 10 year old. I had to make choices about what was best for my children, and to complicate matters my youngest became suicidal, I spent the next seven years balancing the needs of my children first and supporting us second. I would not change a thing, and if the fact that I had to change jobs and work three or four part time jobs at one time does not impress an employer then that employer is the one missing out.
Life does not exist in a bottle, look around and see what makes a good employee
The psychological contract which once traded job security for employee loyalty has been forever breached.
If you have a job now, the nearest competitor for it, is probably sitting 20 feet from you now. This is not your Mama's job market.
8 out of 10 companies that I have worked for/with over 35 years are gone.
so I "job hop" whether I like it or not.
if you work in manufacturing, that's simply what the industry does
Employers, with few exceptions view their employees as slaves, there is a culture of Master / slaves in most work places.
Whenever an employer decides to "down size the work force" they have NO problem laying off people, 2 weeks before Christmas.
Why should the employee care about the employer?
What's sauce for the goose is sauce for the Gander!
The employer would say, "Its nothing personal, its just business"
Remember this, a big reason that unemployment is high is because of "lean management" What that means is if a company has 3 secretaries, they lay off 1 and divide the work of the third up between the 2 remaining secretaries, then the remaining 2 are told, we hope you are not next, so their work load goes up by 50% but their is no pay increase. The CEO then gets a bonus because he has improved the bottom line!
Would it have been so hard for the author to have provided a working definition of what he takes job hopping to be before yammering about it for a page.
Also, how can it be the case that only 55% of employers have hired a job hopper?
Are they saying that 45% of companies still hire kids straight out of college and keep them for 40 years.
I'll say it again: finance journalism has reached a disaster point; I don't even know why I still read these things.
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