The Great Resignation is on. With the current shifts in the economy and how people view their work lives brought on by two years of the pandemic, more and more people are quitting their jobs. You can read more about the causes and the consequences of the Great Resignation here.
According to data from the professional networking platform LinkedIn, the number of their users changing jobs was up 37.6 per cent since 2021 and up 29.6 per cent over 2019. Gen Zers had shifted careers the most since 2021, with a whopping 59.6 per cent increase in job-hopping. Millennials came next at 34.8 per cent. There was a 26.5 per cent increase in Gen Xers changing jobs, and Boomers had the lowest increase at just 7.4 per cent.
Even before the COVID-19 global health crisis brought about this trend, shorter tenure in any given role was increasingly common. A recent study from the staffing firm Robert Half, from just before the pandemic, found that many workers — especially those from younger generations — were seeing the rewards in job-hopping. Sixty-four per cent of professionals polled said that changing jobs every few years can be beneficial, especially when it comes to earning a higher salary.
It is well known that employers are almost always more generous with salary offers to workers they are trying to hire than they are with annual raises offered to retain their existing staff. This makes changing jobs your best shot at negotiating your way into a higher pay bracket.
So, what's the downside?
The pros and cons of job-hopping
Cons
One of the primary disadvantages of job-hopping is that having too many jobs within too short a period of time on your resume can make it more difficult to get hired for future roles. In a separate study of CFOs by Robert Half, nearly half (44 per cent) said that they are not at all likely to hire a candidate with a history of job-hopping.
Their reasoning is that it would not be worth the expense of hiring, onboarding, and training an employee who is likely to turn around and leave in a short time. Employers surveyed indicated that having six or more jobs in a ten-year period was a red flag for a candidate. So, if you have never stayed in any one position for over a decade for more than two years, you could come across as a risky hire for new companies.
Another disadvantage to job-hopping is that your resume can show a lack of progression within an organization. Sure, you are hopefully jumping to better or more senior positions as you make your career moves. However, it is advantageous for you to have at least a few instances of moving up at a company. Your resume should indicate that you were given more responsibility, autonomy, or authority. These are real-world proof that you achieved genuine success on the job and were rewarded for it.
Another negative of job-hopping is the potential for burning bridges. If you are taking a new job with your current employer's competitor, or if your leaving comes as an inconvenient surprise to your boss, there could be hard feelings. You don't want to create a situation where professionals in your field can think poorly of your loyalty or reliability. This can be detrimental to your future prospects.
You can mitigate this risk by being sure to leave on good terms. Almost nobody spends their entire working life with a single employer anymore. Your managers will understand that you want to grow your career with new opportunities. Be sure to give plenty of notice so that you don't leave anyone in the lurch when you go.
Whatever you do, don't follow the current trend of young people publicly quitting their jobs by announcing it on TikTok. That is not a good look for future employers who will almost certainly check out their social media profiles before making a hiring decision.
Pros
As the studies referenced earlier have shown, times have changed. Increasingly, people are changing jobs more frequently. Since this has become closer to the 'new normal,' the stigma attached to job-hopping is somewhat diminished in the eyes of hiring professionals.
As we mentioned, one of the primary advantages of job-hopping is the chance to acquire a boost in your salary. Companies generally have more flexibility on the money they can spend to acquire talent than they do in offering raises. This is particularly true if you are currently employed and the new employer is trying to poach you away from your position to join their organization instead. Being in demand puts you in the best possible bargaining position.
This is also where job-hopping can be an advantage on your resume. If you are hired for a few increasingly senior roles with companies in your industry in a short period of time, that gives the impression that you are a sought-after expert in the field. (Conversely, if you leave roles and have long gaps in your resume before being hired again, it looks like you just quit your job when things get tough.)
Working at a variety of organizations can also give you a greater knowledge of how different companies operate, allowing you to compare and contrast strategies and work styles to see what works best in general and specifically what works best for you. This will enable you to make more informed choices moving forward.
Job-hopping is usually how you move up through the ranks. Most companies prefer to bring in new leadership from outside their organization rather than promoting existing staff. One reason for this is that a new hire comes with that institutional knowledge gained from working at rival organizations. They're seen as having a fresh perspective. Plus, it is just human nature to value something shiny and new over the familiar. This is why talented people are often passed over for internal promotions. (Which in turn causes them to job hop in order to advance their careers.)
You are going to work more than one job over the course of your career, probably quite a few different roles at a variety of organizations. That's just the way the working world operates these days. There are advantages and disadvantages to changing jobs, so you need to make your moves strategically. Time them right so that your resume shows both dependability and progression. Be sure that you always leave your former employer on good terms. Then make each job hop a step in the right direction towards where you ultimately want your career to take you.
