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In terms of general perception, changing jobs frequently does not look good. How long you stay on a job, according to experts, depend on several factors like what is the job doing for your career and importantly what is it doing for your finance.
Ten years ago, companies will roll out the carpet for staff that has stayed with them for so long. Today the story is different. Although some HR still consider longevity a critical criteria for a potential employee, there are others who will see you as unmotivated or set in your ways.
Over the years, most workers have come to associate longevity with income security. To some extent, that is true for public workers but for private sector worker, you are only secure until you find yourself on the street.
At the point of entering a new job, you can be promised a periodic salary increases depending on how well you perform in a fiscal year. One – five years later, the increase is yet to come but your salary is never delayed. You are secured but your income is stagnant. In this era of raise freezes and daily job losses for cost cutting, advances doesn’t happen and you will end up staying put in the same position for years because of the job security.
Changing jobs may be the surest way to get a higher salary and boost your future earning potential. A research has noted that external hires get significantly lower performance evaluations for their first two years on the job than do internal workers who are promoted into similar jobs. They also have higher exit rates, and they are paid “substantially more.”
A financial advice site, LearnVest’s also corroborated this point by evaluating the financial status of workers known for their longevity. The profiles showed that salaries tend to hit their plateau when people are in their forties – and finding a new opportunity gets harder past the age of 45.
“Even if you have a job you love and have been there for 22 years, carry a reinvention plan in your back pocket. If you are over the age of 50 and have a top job with a large salary, beware that you could be a target in a downsizing,” said Lesley Jane Seymour, a brand expert.
Often we tend to become very comfortable once we have found what are arguably good at. Before long the motivation to improve or update your skill set regularly starts diminishing. And in today’s world companies are always changing how they do business and how they staff their positions. A skill necessary today may not be required tomorrow and vice versa. When you fall into a routine skill, your market value starts to diminish. It might even affect a long overdue promotion.
To leave the conundrum, search for jobs comparable to yours. Take a look at the requirements and see if they match your skill set. You may be surprised by what employers are currently looking for.
Job-hopping is more acceptable in the current business market. Most companies which are cutting cost and hence are less inclined to pay raises are looking to hire staff with qualified skill sets.
There is no set rule on how long you should stay on a job before you leave. According to an expert, staying for ten years or more on a job can also be a positive thing, if you’ve gained seniority and leadership opportunities and have more say in the company. It might say to potential employers that you are dependable and loyal – two qualities employers love.
FRANK ELEANYA
