We’ve been having a re-occurring déjà vu… daily conversations with fantastic people who aren’t actively looking for new roles, but aren’t totally fulfilled in their current position.
Faced with a new incredible opportunity completely in line with their experience, they are really interested but have concerns over career advice given to them to “get their head down” or “stick it out” for 18 months to 2 years minimum. All good advice from your dad, boyfriend or well-meaning aunt, but they aren’t the ones who have to do your job for the foreseeable future!
People are right to recognise the importance of not appearing too “hoppy” on their CV. Under eight months in a role is frequently perceived to be questionable (unless you can point to an objective reason), as it suggests that you didn’t pass your six-month review, and ultimately, If there’s too much to justify, you may not be invited to interview. However, what’s becoming more apparent is that job-hopping is becoming the norm for the average twenty something, so we ought to get more comfortable with the idea.
With more and more people embarking on internships during and after they graduate to gain experience, it’s now the norm for graduates to start their career with multiple 1-12 month placements under their belt. It’s also becoming commonplace to include a year of travel; if you were able to gain relevant professional experience during this period, that’s a great addition too!
On the flip side, the Bureau of Labor Statistics reports that Baby Boomers job-hopped in their twenties just as frequently as millennials do now. The negative stigma is on its way out, so people should lean into the positive outcomes from making a change:
Most people assume that talented employees who change jobs frequently are always chasing more money. This may be partly true, but is only a piece of the puzzle. It’s true that most job-hoppers can raise their salary faster by changing companies than they can by going through the annual review cycle. It certainly doesn’t happen for everyone though.
According to Legal Technology Solutions (LTS) figures, in a healthy economic market, a 8-10% increase is about average for a job change. Other reports show as much as a 20% increase possibility.
In fact, staying at the same employer for over two years on average can cost you 50% or more in lifetime earnings.
If money is your main motivator for work, then job-hopping can certainly help you along the path, especially if you are early in your career.
Many individuals will actually take a pay cut to change jobs, though. A culture mismatch can drive an employee out the door faster than a smaller paycheck can. Poor work-life balance can also contribute to a job change. Working for a purpose is especially important for millennials. Any of these reasons can cause an employee to accept a lower salary in order to change.
A LinkedIn survey on people who have changed jobs showed that 59% of respondents chose their new company because they saw a stronger career path or more opportunity there.
This is a bit of a given for job changers, but many organisations, especially those with fewer employees, are unable to provide the ability to advance through the ranks quickly.
Changing jobs allows employees to be choosy in the direction they head and avoid any preconceived notions from colleagues about their advancement.
Ability To Change Locations
The ability to move to another city with your current employer does not arise often, but moving due to a job change is common. In fact, 77% of Cornerstone survey respondents considered relocating to another city, state, or country as a desirable career move.
Marriage and home ownership are at their lowest rates among young adults, so job relocation becomes easier and more desirable when people have less holding them in place.
Many new employers will also offer relocation packages to employees who relocate to a new city, making it more affordable to discover new places to live.
The Negative Stigma Is Nearly Gone
In days past, HR managers would disregard a CV that shows tenure less than two years at more than one job. These days, the stigma is quickly losing steam.
As millennials rise into management positions and start hiring other employees, they will change in perspective on job-hopping. To be clear, we don’t see any hiring managers preferring candidates who have been at jobs for a three-month period or less. Transitional job-hopping would involve a change after 12-36 months on the job. Some employers may even prefer candidates who can bring knowledge of their competitor and the ability to learn quickly.
In conclusion, we advise to always follow your gut instinct as there’s no harm in keeping yourself open to the perfect opportunity (for whatever reason), but be prepared to give a clear and honest explanation for your changes when asked!
BBC Wordwide: http://www.bbc.com/capital/story/20150219-should-i-stay-or-should-i-go
Forbes: https://www.forbes.com/sites/dailymuse/2013/08/08/do-you-really-have-to-stay-at-a-job-for-one-year/#6d9efe9c4708 & https://www.forbes.com/sites/kaytiezimmerman/2016/06/07/millennials-stop-apologizing-for-job-hopping/2/#661ea99a677e