Job hoppers are laughing all the way to the bank. 20% on salary for every new job compared to just 5% per year staying at the same company. Who gets the last laugh?
Your choice now.
- From a salary of 50,000 baht per month in job number 1 to 215,000 baht per month in job number eight. The calculation is 20% on each new job. That is a multiple of over four times more than the starting salary.
- Or stay with the same company for eight years starting with 50,000 baht per month. With a 5% increase year-on-year the salary comes to 73,900 baht per month after receiving the annual salary increase eight times.
He who laughs last, laughs best – or not?
Just the other day, I saw this 19 years-career on an executive’s LinkedIn profile; and mind you, I see them more and more.
The first job right after university was for two years, the next job also for two years, then three years, and the next four years. That adds up to a total of 11 years.
But then this happened?
For the past eight years, this HR executive has changed jobs six times. The work periods are 11 months, 7 months, 10 months, 9 months, and current employment so far for 1 month.
Would you hire this kind of candidate?
What does research show?
Research by CareerBuilder in 2021 found that Gen Z workers, born in 1997 or later, would spend an average of two years and three months in a job, while Gen Y (millennials from 25 to 40 years old) stayed for just six months more.
In comparison, Gen X employees (41 to 56 years old) spend an average of five years in the same job, while baby boomers (57 to 75 years old) stay in their jobs for about eight years.
But actually, job hopping is not just for the young. A study conducted by the US Bureau of Labor Statistics in 2019 found that baby boomers held an average of 12 jobs in a career.
According to a LinkedIn 2022 research, U.S. LinkedIn users changed their jobs 37% more than in 2021.
And not surprisingly, Generation Z workers, born from 1997, were the most restless.
Job hopping is not sustainable
The general consensus has always been to stay away from job hoppers. Moving too soon from one job to another is or was a big no-no for many hiring managers.
But with the proof evident on LinkedIn profiles, more and more hiring managers are clearly changing their previous negative attitude toward job hoppers.
But the big question is still, how will companies manage their business when, eventually, most employees will only stay for so long?
The jury is still out there on the pros and cons – for both the hiring manager and the job hopper.
One argument is that it will catch up with the job hopper. Frequent job changes will affect the depth of knowledge it is possible to acquire during short employments. That in turn will make a job hopper less competitive compared to peers.
Hiring managers will likely once again avoid hiring job hoppers.
