Business owners and employees view job hopping value differently

With the economy booming, "job hopping" – as it's come to be called – is exploding. Instead of job security, many Americans are driven by upward mobility, always looking to see if the grass grows greener on the other side.

But is changing employers on a regular basis a smart career decision? Workers seem to think so, but many business owners don't share this point of view, according to the results of a newly released survey.

Nearly two-thirds of full-time employees, specifically those in white collar professions, believe job hopping can serve workers' short- and long-term interests, based on a recent poll conducted by recruit firm Robert Half.

Interestingly, millennials – men and women ranging between 18 and 34 – are overwhelmingly of this mindset, as 75 percent of generational respondents considered job hopping beneficial. This compared to about 60 percent of Generation X who shared this belief – individuals ranging from 35 to 54 years old – and a slight majority of baby boomers (51 percent).

Why do workers job hop?
As business owners are well aware, employees pursue other job opportunities for any number of reasons, such as better compensation, a shorter commute or simply not being satisfied with what they're currently doing. Indeed, in a Harris Poll done on behalf of CareerBuilder in 2017, a majority of respondents – 55 percent – said that what they were doing for work felt more like a job rather than a career. Close to 3 in 10 admitted to hating their line of work.

For these individuals, seeing what else is out there is a no-brainer. But there's a difference between expanding one's horizons and being perpetually on the job hunt, at least according to business owners. Among chief financial officers responding to the Robert Half survey, roughly 45 percent indicated their reluctance to hiring candidates who've worked for multiple employers over the course of their adult lifetimes.

How many positions are considered one too many? The average response was six over 10 years or fewer.

Paul McDonald, senior executive director at Robert Half, warned job hopping can have its advantages – both for businesses and employees – but it can frequently raise eyebrows for business owners and executives leafing through resumes.

"While job hopping can have benefits, too many employment changes can raise red flags with hiring managers," McDonald explained. "Professionals should take time to weigh the pros and cons before making a career move."

The main reason why business owners are frequently loath to hire job hoppers is their inclination that they may be the next rung on the ladder, the poll found. Employees appreciate this perception, as 46 percent of them said they recognized job hopping as being a potential hiring stumbling block.

Technology sector highly vulnerable to high turnover
Some industries are more susceptible to high turnover than others. Nowhere is this more evident than the technology sector, having a 13.2 percent turnover rate, according to data compiled by LinkedIn. Rounding out the top five are retail, media and entertainment, professional services and finally government, which includes education.

As the old saying goes, too much of anything isn't a good thing, and the same principle applies to turnover, McDonald noted. To keep the rate low, Robert Half's senior director said managers should prioritize retention.

"In today's candidate-short market, keeping key performers engaged should be top of mind for managers," McDonald explained. "Businesses worried about losing talent to the competition should focus on improving corporate culture and strive to be the type of company employees want to stay with long term."

Several polls and studies corroborate the linkage between engagement and retention, including one conducted by Gallup. The polling outfit found tenured employees – meaning at least 10 years at one company or more – who are highly engaged perform are 18 percent better than the typical employees.

How can you leverage engagement to your company's betterment? This is an area the business experts at Hudspeth Law Firm can provide assistance. We specialize in offering theoretical knowledge and practical advice that our clients rely on and our prospects can trust. Contact us and let us show you how we can help.

Categorised in: Business Law, Starting a Business in Arizona

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