Regional News

Job hopping: the latest trend in the global labor market

By Silvia Castro Betancourt 0 Comments NEWS, Regional News

This article was written and published in Spanish and has been translated into English. Click here to read the original article.

An indefinite contract, one month of summer vacations and 14 annual payments has been the dream of any worker for many years. This job stability so longed for by anyone's parents and grandparents is far from the aspirations of the current market participants, however, where a new profile of restless professional known as the 'job hopper' predominates.

The job hopping or frequent change of work is more common than imagined, especially among millennials. According to a study by LinkedIn, members of the so-called Generation X change jobs much more often than their parents. In fact, a survey published by The Guardian indicates that 90% of these young people will change jobs before five years. Even 1 in 3 says it will be before two years.

There are many theories about why this revolution of employment change is taking place. IMF Business School has identified the three most common factors:

Age is one of the main reasons why millennials decide to change jobs more easily. These young people have fewer responsibilities and family responsibilities than other colleagues with more years of experience. This advantage allows them to move from one position to another without fear of being away from their home or their children's school.

Other variables that play in favor of 'job hopping' is salary. This job profile looks for a higher position in the new job since it is often accompanied by a salary increase. In effect, the economic factor is a strong argument to justify the change. A study by Randstad on 'Employer Branding' states that wages remain the main factor when choosing a company to work for.

And, finally, the desire to undertake. This generation has strongly broken into the business sector and, even, there are studies that call them 'millennipreneurs'. Their short experience has not prevented them from starting up twice as many companies as professionals with more than 50 years, generating 43% more business volume, figures that are extracted from the BNP Paribas Global Entrepreneur Report 2016 study, in which 2,600 entrepreneurs from 18 countries in Asia, Europe and the United States participated.

Whatever the cause, the trend does not stop growing and has caused many professionals of any age to wonder when it is time to change jobs. Unfortunately, there is no formula, nor a fixed calendar, because the decision depends on the worker's own needs and ambitions.

For Carlos Martínez, president of IMF Business School, "Changing jobs often inside or outside the company is not an error, it enriches the worker, even for companies, this tendency to work mobility can become a requirement. For this reason, from school we advise our students to be transparent in job interviews and not to hide if they are a job hopper, since it is more important to explain why they have changed their jobs than how often they have to do it. We have been in jobs where we were not comfortable, but we are worried about leaving it too early for fear of showing job instability in our curriculum, but, on the contrary, this fact helps us to have a broad curriculum rich in experiences."

This article was written and published in Spanish and has been translated into English. Click here to read the original article.

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