Recently I had a conversation with some friends about the average length a person stays in a job and the pros and cons of job hopping. It got me thinking…and researching.
According to recent data from the Bureau of Labor Statistics, the average workers stays at their job 4.2 years. To some this may seem like a good tenure. To others it may seem like fast turnover.
An article by Fast Company explains why frequent job change is on the rise:
“Shorter job tenure is associated with a new era of insecurity, volatility, and risk. It’s part of the same employment picture as the increase in part-time, freelance, and contract work; mass layoffs and buyouts”.
In addition, a number of US surveys stress that people who change jobs frequently experience faster wage growth. One Forbes article shares:
“Staying employed at the same company for over two years on average is going to make you earn less over your lifetime by about 50% or more”.
This is certainly a compelling reason to move jobs more often, but the reasons for job hopping can vary.
Recessions and changes in the economy cause wage freezes or slower compensation increases. People move jobs more often to stay ahead of negative change, take on new challenges, or secure better wages. Changing roles can also result in a higher salary and improved benefits from the start.
So, with all this in mind – what do you think…is job hopping smart or risky❓
Do companies still value loyalty❓
Can job hopping create better opportunities❓
Do people who transition jobs more frequently demonstrate ambition❓
A rich discussion of insights and opinions on these questions occured on LinkedIn. Read the thread and feel free to chime in here (comment below) or share your thoughts on the LinkedIn post.
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