In a world booming with innovative start-ups and businesses, it seems unjustified to term a career move as either good or bad. It may turn out to be a great boon to your professional life; or it may give it a downhill push.
Job hopping is of course, switching companies multiple times within a comparatively short period of time, for reasons other than a layoff or the closure of a company. According to businessnewsdaily, a recent survey conducted by Jobvite revealed that around 42% of job seekers switch jobs at least once in one to five years. According to data from Paysa, even the largest tech companies only manage to retain their employees for an average of 2 years. Travis Kalanick, CEO of Uber worked his role for 6.5 years before his departure – that number was 5 times bigger than the average Uber employee. Even Microsoft faces an average employee tenure of 1.8 years. In another survey, nearly 9 out of 10 HR leaders identified employee retention as a primary concern.
A concept that was frowned upon in the past, job hopping has become the norm in today’s competitive world. All the same, its repercussions remain highly unpredictable – the long list of previous employers on a job hopper’s CV may either intimidate or impress the new hiring manager. This makes it highly crucial to make the right choices to steer one’s career in the desirable direction.
Some argue that job hopping can help you climb the corporate ladder of success. They’re not entirely inaccurate. Some of benefits of this practice include:
A job hopper usually has the experience of being in different sized companies and industries. Being a hopper will help you acquire essential skills and give you experience, a plus point in the eyes of the employer.
Establishing and maintaining contacts wherever you go is vital in today’s world. Past employers can provide valuable references when you are applying to a new company. By changing jobs, you also get the chance of making connections with your colleagues, which can do wonders for your career!
Working in different environments will give you access to a large amount of information and resources. You will be more exposed to the market trends and up to date with the changes and innovations in technology.
You will be seen as someone who has the experience of working with people with diverse backgrounds. This speaks volumes when it comes to your “people skills” and ability to take on challenges. You’ll be a prized catch, especially for start-up companies looking for innovative, easygoing employees!
Why do the same job for 30 years of your life when you can pursue another which has better prospects of promotion and offers a higher salary? Who knows; it may open up new, exciting avenues for your personal and professional growth. Many job hoppers switch jobs for precisely the same reason.
Discover your Passion
When it comes to jobs, one size does not fit all. Changing companies can help you discover your true calling and might even help you define your purpose in life!
While job switching might sound like an exciting way to advance your career, there are many risks associated with it.
When you move around so much, people may doubt your loyalty as an employee. Your habit of “not sticking around” might even dissuade a prospective employer from hiring you.
Loss of Money
The process of hiring employees is akin to making an investment that will benefit the company in the long term. If your untimely resignation induces high monetary loss to the company, why will they hire you?
Compromised Job Security
Your previous stints might give a bad impression to your prospective employer. To them, your irregularity in jobs might portray you as an uncommitted, irresponsible individual. If a company decides to lay off some of its employees, you might be the first one to go!
Lack of Satisfaction
From the point of inception to the point of completion, most products have large life-cycles. If you keep changing companies without waiting till the completion of a product, you are never going to get job satisfaction!
Weighing your Options
Job hopping comes with its fair share of benefits and risks. While hopping may help you gain knowledge and skills, one wrong move can jeopardize years of hard work! The gaps in employment in between jobs can make your CV look unorganized, attributing you with bad decision making power. Being a job hopper, it is essential to showcase your talents and skills without raising a red flag. To do so, it is always a good idea to have a back-up job, in case you decide to leave the current one. You should also be prepared to justify the switch and be able to state your contributions as an employee at the previous company.
Many believe that you should stay at a job for at least a year, ideally two. Leaving a job too soon might cast a doubt on your reliability; staying for too long might portray you as non-ambitious and non-adaptable.