Thirty years ago, it was common for people to spend their entire career with the same company. However, organizations and
employees have displayed substantial lack of loyalty for each other since then. The concept of lifetime employment no longer exists.
People in their 20/30s have 8 jobs, on average. Through job hopping, they eventually find the job they really like to do.
Career counselors recommend changing jobs every 3-4 years for a number of reasons:
- - Maintaining a steep learning curve
- - Building a large network quickly
- - Developing new transferable skills frequently
- - Working on new challenges
- - Maintaining passion in the work
Job hoppers tend to be top performers because the first year is critical in a new role and you need to deliver significantly during
the first year. In many cases, the employer keeps a close eye on you and you are practically on probation until the end of the first year.
Can you really get ahead faster by changing companies frequently?
At the beginning of your career, job hopping may be a way of getting a bigger title and a higher salary. As you gather experience at one organization, another company is willing to hire you at a 10-15% higher salary. This may not always be the case for people with more experience. HBR has published an article in the July-August 2010 issue that talks about the benefits and penalties of job hopping,
specifically for executives with MBA. Here are some of the data they presented:
- - 30% of moves from one organization to another may involve demotions
- -10% of inside moves are demotions
- - Only 4% of moves are large promotions
- - Only 34% of moves are modest promotions
- - 8% of moves from a large corporation to a small farm ends up in a smaller title
- - 24% of moves from a small farm to a large corporation needs step down
They concluded, “Fast, upward leaps may not secure success. Often, a slower ascent of lateral upward moves is what pays off”.
Do employers benefit from hiring people from another business?
The smaller businesses benefit most of the time when they hire a new person who has several years of experience at a big corporation.
The new employee, who had previous exposure to a different corporate culture, can often implement better policies, procedures,
best practices in the relatively newer and smaller business.
What is your view on job hopping?