The views of this article are the perspective of the author and may not be reflective of Confessions of the Professions.
Job Hopping Benefits and Disadvantages
When it comes to job hopping, it may work out in your favor, especially if it is of great benefit to a career path. People may job hop because they were expected or promised certain things and a job did not deliver. They may job hop because they are unsatisfied with the way things are done at their workplace. They may job hop because there are better opportunities elsewhere.
Job hopping does have its benefits, but it may also show that there is no loyalty towards any specific job, there are no long-term goals that are desired when working at a job, and the individual may not take the job responsibilities seriously.
The benefits of job hopping, on the other hand, especially if one can hold a job for at least a year, and job hops to different jobs, show a diverse background and capabilities of adaptability to any situation or environment. There may also be plenty of opportunity for networking with other individuals who may be unable to job hop, but have ideas in their mind, and would be willing to leave their current job to begin a startup venture with another like-minded individual.
When it comes to job hopping, it is a decision that should not be taken lightly, and research should go into it. A “look before you leap” behavior should be adapted so a job hopper knows the next move and is not just leaping into a vast ocean of the unknown, but rather, has some type of security of at least landing on a lily pad. Job hopping is not for everyone, but no one should remain in a job they are unhappy with. If there is better opportunity elsewhere, it may be worth the risk, but it also might be worth staying loyal to the current company. Consider all options when job hopping.
This infographic takes a look at the pros and cons of job hopping.
Infographic submitted by Alexandra Ashton of Neomam.com, article summary by Matthew Gates
Click to open / Right-click for save options
THE PROS AND CONS OF JOB HOPPING
A job for life is a rarity these days.
According to a survey conducted by PayScale:
- 13% of Millennials (born 1982-2002)
- 41% of Baby Boomers (born 1946-1964)
… believe workers should stay in a job for at least 5 years before looking for a new role.
26% of Millennials believe that workers should only be expected to stay in a job for 1 year or less before looking for a new position.
SO WHAT MAKES A JOB-HOPPER?
According to HR professionals:
Rate of changing jobs
- 51% Once a year
- 34% Once every 2 years
Perceptions about job-hopping are shifting:
People who consider job-hopping as “damaging” to long-term career goals
- 47% in 2002
- 55% in 2009
- 62% in 2014
Yet it’s important to note that job-hopping isn’t always by choice.
Quit and layoffs in the US
However there’s still a split between employers.
55% of employers have hired a job-hopper.
Before you start adding a string of roles to your resume, or decide to stay in your job for life, consider these factors below:
- Your diverse background can be attractive to potential employers – you just might have the right mix of skills they need.
- Be sure to keep a record of your successful projects, including people who can serve as references.
- You’ll have the chance to see how other businesses work, and grow your own skillset in ways you couldn’t by sticking with one employer.
- If done right, job-hopping lets you build up a powerful professional network. More often than not, it’s a network, not a resume that gets you a job.
- 4/10 job seekers have found their “best” role through personal connections.
- Rather than waiting around for a promotion, job-hopping can be a fast-track to upgrading your title, salary, and benefits.
5. Pay increase
- A new job can often lead to a higher paycheck as companies are willing to pay more money for the right person.
- 3% Average increase in salary by 2015.
- 10-20% Average increase in salary after changing jobs.
- Potential employers may be hesitant to hire you if it seems like you won’t be sticking around for long.
- 20% OF ANNUAL SALARY – The cost of replacing an employee earning $30,000 – $50,000.
2. Job Security
- Given your track record, you may the first to go if an employer is forced to lay off employees.
3. Limited growth
- You’ll miss out on seeing the long-term impact of your work, and you won’t have time to be promoted from within.
- According to Wharton management professor Matthew Bidwell:
- It takes 2 years for the performance review of external hires to catch with workers internally promoted.
- Possible reasons:
- Supervisory bias
- Time taken to get up to speed
4. Burning bridges
- Job-hopping can compromise your potential for developing reliable contacts that can vouch for your talents.
- Employers might assume you lack commitment – especially if you’re hopping laterally around many different sectors.
- 41% of employers believe job-hopping is less acceptable when a worker reaches 30-35 years of age.
SHOULD YOU HOP?
Stay Too Long:
- Not considered ambitious enough
- Not adaptable enough for a new role
Leave Too Soon:
- No chance to get hired internally
- Difficult to show potential employers you’ll be loyal
Hop with caution – before leaving your relatively new job, ask yourself:
- What do you want from your career?
- Have you made the most of your current role?
- Why do you want new opportunities?
- Where has the greatest long-term potential?
- What’s your industry’s norm?
EVERY CAREER MOVE IS UNIQUE.
Do your homework and you can make the leap without hurting your career. Otherwise, reap the reward by growing with a company.
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