Do short jumps lead to higher growth?
Many of us millennials are quite familiar with statements mostly from our parents and the older generation that faithfully served a single organization for 30 or 40 years as either Managers or Senior Executives! As per studies which deemed it the new normal, job hopping is quite the trend nowadays with reports establishing how most people usually change 4 jobs by the time they’re 32 years old and many of them are already CXOs!
There was a Ma Foi Randstad Workmonitor Survey which clearly showed an illuminating figure, i.e. India has the highest job hopping rates in the world! We’re clearly ultra-ambitious with 8 out of 10 people willing to grab the opportunities full of promises of rapid growth and better financial prospects. The Global Mobility Index Score for India is a whopping 141 and we’re reasonably ahead of China in this race!
This brings us to the questions- How often is too often? or possibly Do short jumps lead to higher growth?
Benefits of short career jumps-
• More Exposure – Who doesn’t want greater exposure across multiple industry domains and sometimes in new industries as well. Learning more and getting paid for it can be stimulating for many!
• Better Positions- Most people jump at the chance of landing a better job position at another organization. After all, a career jump sometimes equates to a promotion or even two!
• Higher Salaries- Fatter pay cheques are mostly the primary drivers of job changes and why shouldn’t they be? Everybody likes that sudden windfall of extra cash.
• Extensive Networking- Taking a big career leap often equates to networking opportunities galore in another company right from making new contacts and clients to more scope for expanding one’s sphere of influence.
While you’ve been thinking that the grass may actually be greener on the other side, it’s time to take a look at what long-term employment essentially offers-
Benefits of long-term employment with one company –
• Bigger Opportunities- In many cases, if you’ve served one organization faithfully for years, you may be in for some huge opportunities, something that you may not get elsewhere.
• Loyalty- Showing your loyalty to your employer does come with its fair share of rewards and benefits.
• Recognition- When you’ve worked at an organization for a sizable amount of time, you’re more likely to be recognized and appreciated for all that you do by the management. Going to a new place is like starting all over again with intense competition of course!
• Stability- Working at one organization for a major chunk of your lifetime means more stability in general, encompassing financial stability in terms of savings and employee benefits and of course, greater professional stability.
As you can see, there are advantages accrued from short career jumps while there are a few disadvantages that are a part of the game too. You should only make the jump when there is a direct career benefit that is too big to ignore. Sometimes, however, it is better to resist temptation keeping the bigger picture in mind.