Hopping jobs with an adage nothing lasts forever is the new mantra of today’s generation. We rarely hear of individuals who started they career with an organization many years back, dedicated his entire career service with the organization and retired from the same organization. Jobs today do not last unlike previous generations. In the past few years job-hopping has become so widespread across the industries IT- ITeS sector most. However, other sectors like retail, banking and hospitality are also witnessing the same trend that even a four year stretch in the same organization is considered to be a stable job. Individuals no longer believe in sticking to one job and waiting for that golden leap to come. Not only fresher’s, but senior professionals are also increasingly job hopping. Is hopping jobs really bad? As Dr. Gopalkrishnan, Chairman, TATA Sons., has said, “after a long stint, there always comes a time for moving in most organizations, but it is important to move for the right reasons, rather than superficial ones, like money, designation or an overseas trip. Job hopping today is considered an important part of career development. But, there is a big dilemma about where to draw the line, i.e. how long is too long or how short is too short? Also, how long can the hop last? “Career experts opine that staying around for 2-4 years is ideal. Also, every job move deserves careful consideration and planning. While monetary increase is often a valid reason to change jobs, one should realize that work environment, long term career prospects, colleagues and company culture are equally important factors in determining an ideal job. It should be a mature decision carefully charted out after properly weighing varied factors like current job satisfaction, challenges, career development, company’s image, benefits and growth prospects. One should consider the suitability of whole package rather than being blindfolded with short term benefits. So, what makes individuals hop jobs? So in this article let us try o understand if hopping jobs is a sensible career move or a wasteful one.
Let us first check out what surveys and people from industries have to say about hopping jobs:
Higher pay and better employment prospects may be of utmost importance for a person switching companies, but job-hopping can severely hamper career growth as well as wealth creation in long-term, says a new survey.
The experts believe that sticking to the same company for more time, rather than aimlessly hopping jobs, can provide better learning and career momentum to young professionals.
The findings of the latest study by research and analytic firm Evalueserve reveal that the multiple career steps within the same company accelerate a professional’s growth more than many horizontal moves across companies.
A survey revealed that 24 per cent of the graduates from premier B-schools like IIMs, XLRI and Narsee Monjee quit their first jobs within 12 months of being hired.
Don Nolan, president of an executive recruitment firm in Toronto says, “Job hopping today is considered an important part of career development”.
If you are after increasing your income fast, go ahead and learn as much as you can where you are right now and then go look for “greener pasture.”
It is not a good time for those who move from one job to another. The impact of a slowing global economy and volatile markets can be seen on the hikes of pay packages offered to those who hop jobs especially in the information technology, IT enabled services, hospitality and aviation sectors, reported Mint
So, you should have an eye on the big picture and steadily climb the corporate ladder with opportune job shifts. And, the best test for changing jobs is, “Hop jobs when even your boss congratulates you on the move
What is important is to consider the whole package and not be blinded by the short-term gains and fatter pay cheques. As Mr.Gopalakrishnan, Chairman of Tata Sons Ltd., advices, “After a long stint, there always comes a time for moving from one job to another. But it is important to move for the right reasons, rather than superficial ones, like money, designation or an overseas trip”.
Likewise, every job move warrants careful consideration and planning. It should be a mature decision carefully charted out after duly weighing varied factors like current job satisfaction, challenges, career development, skill sets and interest areas as against the new job profile, company image, benefits and growth prospects.
“Job hopping is largely done in two circumstances, primarily for career progression and secondly for compensation. In the first instance, the candidate comes across as a responsible, forthright and result-oriented,” a senior official at global HR services firm Manpower said
The summary of all these surveys say that there are both advantages and disadvantages in hoping jobs. So, first let us try to understand what makes individuals go for hopping jobs:
Some of the common reasons for hoping jobs as quoted by job hoppers include.
Dissatisfaction with the job
Lack of challenging work
Loyalty has become old fashioned
Stagnation
Less pay
Not able to make up mind before joining
Opportunity to go abroad
Work environment.
Promises made by the human resource departments
Being a wrong fit for the job
Advantages in hopping jobs:
The advantage to job hopping for an employer is seeing you have knowledge in different areas. Showing you can handle multi-type jobs is also a positive.
Vodafone’s Loyalty at Work report, part of its ‘Working Nation’ research into the UK working culture, found that only 3% of employers said the number of employers an individual has worked for provided the best measure of loyalty. Instead, they place more emphasis on ensuring that employees are engaged and committed during the time they spend with them, believing this is more likely to deliver results. The current working climate and the switch from a manufacturing to a knowledge economy enables employees to switch jobs, disciplines and companies to broaden their experience.
If you are in a profession where demand is greater than supply, you can hop jobs to get more money, secure in the knowledge that if things don’t work out, you can easily go elsewhere.
One underlying question is how employers promote. If they largely promote from within, then job-hopping is probably a not a good idea. Sadly or otherwise, many employers look at their own people and see their weaknesses, then look at people outside with rose-tinted spectacles. When companies promote from without, then job-hopping may be the best way to get on with your career.
It takes four years to get a degree to show you are capable of learning. Job hopping can show you are capable of learning different jobs in a matter of a year or two. You do however, need to give those jobs notice and be in good standing with them, so your future employer will see you left for your own personal reasons, whatever they might be.
Salary offer increase with each move the individual makes because of the knowledge and experience that they offer.
Job hopping also emerges as a shortcut to success. Savvy employees push their way to phenomenal levels as each job change brings with it a hike in pay and position. Job changes can even enrich one’s career as they polish the rough edges of the job profile with a gamut of experiences
Staying in the organization till retirement tells that those who linger in the same job are taken for granted and branded apathetic or not competent enough to move. Ironically, not staying in a job for too long has become the greatest job security. Changing attitudes, modern beliefs and the restructured need for flexibility makes job shifts a logical and increasingly acceptable approach to recharging one’s career.
It is good to build a lot of circle of relationship with people from various industries and also understand the work style.
Disadvantages:
The experts believe that sticking to the same company for more time, rather than aimlessly hopping jobs, can provide better learning and career momentum to young professionals.
Every time you change jobs, you are giving up a substantial part of the social capital you have accumulated in that role. I refer here to the web of relationships, reciprocities and, importantly, the trust that is painfully acquired over myriads of interactions and must be painstakingly rebuilt when roles change. This is the toughest part of the learning curve for most managerial jobs and you need to factor this transaction cost into your decision to change.
A series of rapid, random and pointless moves will show up as red flags on the resume sealing your fate irrevocably. Employers view you as restless ramblers as dysfunctional - lacking in resilience, loyalty, trust and self-motivation refusing to take you.
Greenery is where you depend on how you respond to your environment and the situations that come upon.If you are the one who is in for the long haul and looking for character building, lasting friendships, and developing your abilities to its fullest potential, then stay in a job that is well suited for you.
Staying on in a job builds relationship and eventually, through perseverance, teamwork. Staying on in a job makes you effective and efficient at what you are doing conscientiously, eventually making you an invaluable member of the organization.
Job hopping has risk attached, both for the job-hopper and their new employer. Interviews are a crude tool that often results in the wrong person being recruited. And the interview process is mostly one way — it is easy to end up in a company where you hate what is going on and how you are treated
In the survey, 73 per cent of the respondents stated that spending more time with the same organization provides better exposure to various functions within the company and therefore provides better overall learning and career momentum.
Study reveals that people who hop jobs rapidly, these professionals get the ‘two-year itch’ and change jobs every 24 months, sometimes moving from high- growth companies to slow-growth captive back-office operations of large and medium-sized multi-national organizations,” the study stated.
What can we do to prevent hopping jobs?
Policies of the companies: About 85 per cent of the business heads surveyed by Evalueserve consider loyalty in previous positions as one of the most important evaluation criteria for hiring and career advancement and 87 per cent of respondents feel that young professionals should not work in more than three companies during the first 10 years of their careers.
“To avoid the detrimental effects of job hopping, an organization should encourage the senior executives or mentors to spend quality time with the young professionals, who would give them a perspective about their career growth,” Ratnam said.
“Last year, candidates were able to get average increases 40 to 50 percent and in some cases the hikes were up to 100 percent while changing jobs,” says E Balaji, Chief Executive Officer Ma foi Management consultant, a staffing firm. The last six months however have seen a dealing in changing jobs scenario. It has come down to 20-25 percent on an average.
It is clear that except for candidate with niche skills, hefty hikes are unlikely. Also, companies in a bid to improve efficiency and optimally use existing capacities are increasing the share of performance pay.
“The variable component has gone up to 30 percent this year from 15 to 20 percent last year for middle and senior management roles across industries,” says Charul Madan, partner, Executive Access India, a search firm.
Hence we can conclude saying that hopping job has both advantages and disadvantages but when you are hopping jobs every job move warrants careful consideration and planning. It should be a mature decision carefully charted out after duly weighing varied factors like current job satisfaction, challenges, career development, skill sets and interest areas as against the new job profile, company image, benefits and growth prospects.
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