Job hopping is a new trend : survey
Job-hopping has been on a rise because not many subscribe to the idea of staying in one company for decades as was the case earlier. The job switch according to them doesn’t necessarily have damaging effects on their career and don’t worry how it looks on their CV or how future employers will perceive them. The job-hopper stigma, as a matter of fact, is fast becoming a thing of past. One of the reasons for this change in perception can be attributed to millennials who constitute a major share of the workforce. They are motivated to advance in their careers rather than get stuck in one job for a couple of years.
A CareerBuilder survey shared that employers expect about 45% of freshly hired college graduates would stay with them for under two years and that by 35 years of age, 25% of young workers would have held five jobs or more!
In this regard, let’s also have a look at the findings of a report published by CV-Library, the UK’s leading independent job board. The purpose of the survey was to find out how common job hopping is in today’s time and what exactly do the employers and candidates feel about it.
The survey results show that 53.2% disagree with employees working for less than a year for an organization. But, it’s the younger generation that is more accepting of this trend. Another question asked in the survey was what makes them think it is “acceptable to be at a job for less than a year”. To this 35% said ‘if a better opportunity comes, you should take it’, 26% said it’s circumstances that make people switch, 17.9% said that the current job might not be the right one for them, 7.9% felt ‘freelance work is more common’ and 7.5% thought it helps get a wide range of experience’.
What makes people hop jobs?
Every individual has different motivations that make them switch jobs. Sometimes it’s the sector they work in – design and technology – which demands them to keep abreast with the developments as compared to other industries. Then there are emotions that come into play which is touched upon by Tony Higgins and a team of researcher colleagues. They show that optimists tend to see opportunities in new jobs and so chase them whereas those who want a safety net and security rather stick to jobs they currently are in.
The ones who are more open to change tend to look at opportunities as the way forward in their career. They also enjoy learning new things and like to see themselves grow professionally. If so is the case then could this be the reason for their high learning curve? Perhaps. According to the definition of the learning curve in Investopedia, “a steeper slope indicates initial learning translates into higher cost savings, and subsequent learnings result in increasingly slower, more difficult cost savings.” In case of a job hopper, they learn quickly in the beginning because there’s a fire in them to learn as fast as they can and impress the employer. However, once they know how to do their job they feel stuck in a rut. It is this new job opportunities which then lure them once again to take on a fresh set of challenges.
Then comes a wave of workers who want happiness and find their calling are willing to work in an organization that appeals to their larger goals. However, typically as per the figures by Legal Technology Solutions (LTS) for a job hopper, “at least an 8 to 10% pay increase is average in a healthy market, and on the higher end of the pay range, 20% isn’t far-fetched”.
In the end, it all boils down to one thing: a job hopper may have many different motivations but at least they are more self-aware, writing their own narratives and unafraid of being stereotyped. They are taking chances, ticking short-term career goals off their list while at the same time learning the tricks of their trade. They are fearless and overcoming the stereotypes. They are fearlessly overcoming hurdles along the way. Surprisingly employers are also beginning to see them as an asset than a liability. For them, someone who works for a company for more than two years costs them 50% or higher in their lifetime wages. So, they might as well hire a job-hopper?
Would you, as a recruiter, consider a job hopper for their ambition and the desire to grow or will you judge them for their capricious jumps from one organization to another? Would you consider their skills and expertise over the number of years they spent in the last job?