In today's uber-flexible job market millennials are on the move.
Recent research shows that more than half believe it is OK to stay in a job for less than one year.
Learn fast, play faster
Having grown up with technology, millennials don’t remember a time without mobile phones and social media; being familiar with a 24-hour lifestyle, they learn fast and play even faster!
So, they don’t have time to waste in a job that doesn’t satisfy them and employee loyalty is all but gone.
Far from being bored in their work, millennial job hoppers are ambitious and eager to find their place in life – one that fits around their social commitments and, in time, their family life.
Flexible working
The increase in part-time and flexible working opportunities means that this is entirely possible and as technology advances, new roles are invented almost daily, allowing professionals to apply their skills in different ways that were unimaginable just a decade ago.
With such opportunities becoming increasingly popular, new data has found that three quarters of the nation’s workers believe that job-hopping has become more acceptable, with this figure increasing to 87% amongst under 18s.
Furthermore, research indicates that the majority of professionals expect to have more than 10 jobs in their lifetime, with one in five admitting that they think it’s unrealistic for businesses to expect employees to stay with their company for more than two years.
Attraction & Retention
This presents the companies looking for the best talent with quite a headache, that of how to attract and keep the staff they have invested in.
It appears that while employers see a two-year stint in any particular employment as acceptable, businesses expect to see a return on any investment that they have made in nurturing and training young talent.
They also hate to see their skilled people leave – hence what appears to be their excessive investment in many millennials.
Positive Reasons
So, if you’re a millennial, or even a more mature employee, who has decided to job hop onto the recruitment train, you need to let future employers know that you aren’t a fly-by-night candidate.
Demonstrate in your CV the reasons for every job move, whether it be to expand your knowledge, challenge your brain or even to be nearer family.
A prospective employer needs to see a positive reason for a move, if they are to be convinced that you have stickability and determination.
If you have made a number of career moves that is not necessarily seen as a bad thing, providing you can show that each move is a progression, then it is fine.
A recent study found that nearly half (46.8%) of workers believe it’s acceptable to leave a job after less than a year, with this number increasing to 65% amongst 18-24 year olds. When asked why they believe job-hopping is becoming increasingly acceptable, respondents cited the following:
1. If a better opportunity comes along you should take it – 35%
2. Circumstances often change – 26%
3. The job might not be right for you – 17.9%
4. Freelance work is increasingly common these days – 7.9%
5. You’ll get a wider range of experience – 7.5%
Digging deeper, respondents were asked why they chose to leave their last job with the top response being that they were offered a better opportunity (18.1%).
Following that, 16.3% of workers said there was no room for progression in their existing role, and 8.1% revealed that they wanted to change fields completely.
Does it pay off to move around? Although salary isn’t the main reason for many to switch jobs, it would appear that the answer is yes, but only for millennials!
Does it Pay Off?
From 2007 – 2014, 18-29 year old ‘job switchers’ averaged an 11.8% pay rise while ‘job stayers’ of the same age only managed a 4.4% increase.
Older ‘job switchers’ fared less well, experiencing an average 6.1% pay increase.
This could be due to more experienced workers having less room for progression, many already being at the top of their pay scale.
It would also seem that employers are attempting to keep hold of their young talent by increasing their pay at a greater rate than older employees, who are perhaps set in their ways and come with greater family obligations and lesser confidence than their youthful counterparts.
'Becoming more acceptable'
Lee Biggins, founder and managing director of CV-Library, comments:
“Though some believe that job hopping looks unprofessional, many workers across the nation are seeing the benefits, with the majority agreeing that it is becoming more acceptable.
"It’s interesting to note the generational gap, with younger workers more likely to job hop than their elders, suggesting that this trend could continue to grow as the next generation enters the job market.
“It’s clear from the data that professionals are always on the lookout for the best opportunities and are keen to progress in their careers, even if this means changing jobs frequently.
Though there appears to be no right or wrong answer as to the length of time you should remain at one company, candidates should do what feels best for them in their career.”