The Baby Boomer workforce was mainly built on the idea of career advancement within a single place of work. The theory was that you started at a particular company with an entry-level job and an entry-level salary, then the reward for your loyalty was a steady trajectory towards a better job description. Changing roles frequently was viewed negatively, and employers sought to hire those who they felt would remain loyal until retirement. However, this is a tradition that neither workers nor employers are holding onto anymore. A growing trend of ‘job-hopping’ has become increasingly normalized.
Why are people job-hopping?
The new order means that it is in your best interests to change jobs every three to five years. In fact, Vivian Giang is quoted in an article that claims there is a significant disadvantage in staying at a job for any longer. She states that those who stay with a business for longer than two years are said to be paid up to 50% less.
It has become increasingly common for workers to seek new employment simply because it will lead to a rise in salary, which the present employer is not willing to offer. Similarly, employers are focusing less on loyalty and more on recruiting people who will have an impact early on.
When to hop
One of the best reasons to change jobs is because you’ll remain motivated and have an opportunity to learn new skills. What’s more, you will feel a greater sense of control over your career path. Another good reason to change jobs might be if you are earning a below market-related salary. If your boss is not willing to get in line, you should probably start looking elsewhere.
When to stay put
If the increase in salary is not going to be significant or if leaving means you’ll narrowly miss the annual bonus; it might be prudent to remain in your current job. The best time to leave is when you have just been promoted as this gives you access to a new level of employment.
How to prepare for a move
Job-hopping successfully requires an excellent resume. It will be important to prove your worth to the new company. My Perfect CV explains your resume is vital to help you secure your next position. Make sure it is meticulously laid out and highlights your best qualities. You may also wish to put together statistics which show how you have impacted the company you are leaving, perhaps a sales graph or other key figures. You must be prepared to explain why you are leaving. A confident response to this inevitable question will clarify your motives to an interviewer, but try to have a reason more significant than merely a better salary.
This change in the employment landscape seems to be here to stay, and it is likely that all those entering the workforce in the future will include multiple job changes in their medium to long-term plans. The onus will be on employers to create a company culture that can withstand such a low staff retention rate.