Job hopping is no longer a stigma for workers, and that's a good thing if you're looking for a better paycheck in 2018. Strong economic growth and higher wages lead to a better hiring environment for candidates, which gives people searching for a job an advantage. Take a look at why quitting your job to find a better one can benefit your career in 2018.
In June 2018, 3.4 million Americans quit their jobs. That's the highest figure in 17 years, and it's double the 1.7 million people who were laid off in the early summer of 2018. Experts and analysts agree that low unemployment numbers, hovering around 3.9 percent, point to better opportunities for workers who want to find a better job with bigger pay. Job hopping can raise in hourly earnings by 4 percent when leaving one job for another, whereas people who stay at the same job may see an increase of just 3 percent. Over the long-term, that 1 percent adds up.
Every Industry Affected
Wage growth for job hopping occurs in a lot of industries across a wide range of income levels. Tech companies that need top talent are willing to pay for employee training and professional development to keep prospects from looking for work elsewhere. Food service, retail and construction firms feel the effects of job hoppers, because employees there may leave for other industries when they find positions that are more in-line with their talents. To keep pace with other industries, these lower-paying companies must increase wages.
Job hopping typically happens with younger workers who are paid less. That's normal, because younger workers have less experience versus their older counterparts. Around 6.5 percent of younger workers under the age of 35 changed jobs in 2017, versus just 3.1 percent of people ages 35 to 54. Younger people also have fewer financial obligations and family commitments that make it easier to relocate into higher-paying jobs.
Landing a new job can benefit your career thanks to plenty of opportunities. Job hopping can lead to a better skill set, a higher salary and a better title. Employers realize that people who move from one job to the next do not necessarily have a lack of loyalty or a bad skill set. Companies recognize that job hoppers can learn, grow and adapt in varied environments while enhancing their careers.
When applying for another job in your move up the career ladder, put a positive spin on your previous positions. Demonstrate what you learned, why that position served its purpose and how you plan to put those lessons to good use in your next job. Reassure your new employer that you're there for the long-term and appreciate the opportunity to learn new things because you're a perfect fit. Understand that some employers value loyalty, which is one con to changing jobs every year or two even in a robust hiring environment.
Job hopping is no longer a stigma, especially for younger workers, so take advantage of this trend to make a great career move. What do you do to convince employers that switching jobs is a good thing for your personal brand?
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