How often do you switch jobs? Ask someone over 60 and the answer is likely to be met with a laugh. For millennials and Gen Z though, it’s just a part of life. Because of a large job market and variety in roles, job hopping has become a popular trend today. Younger employees find it perfectly acceptable to shift from company to company, but did you why Is job hopping bad for you?
Whether you are an employee or an employer, job hopping has severe repercussions over the long term. That’s why it is vital for both businesses and employees to stay. Nowadays, it is very common for employees to move on after a year or two.
Job hopping is popular for many reasons, most importantly salary. Employees tend to move quickly if they get better offers elsewhere. Other reasons job-hopping is popular are lack of recognition, unhealthy work-life balance, bad company culture, and a loss of faith in a company’s goals and vision.
Regular job hopping though comes with serious consequences, some that employees and businesses will feel much later. It’s easy to justify jumping now, but in the long run, it becomes harder.
5 Reasons Why Job Hopping is Bad for Employees
- Limited Learning: On average, it takes an employee 12-16 months to fully learn their job. No matter what your role, you can’t be an expert in just a few months. If you are job-hopping regularly, you are likely to limit your learning.
- Lack of Expertise: Limited learning leads to a lack of perceived expertise. Even if you have mastered your previous role, you won’t always get an option to showcase that. Your CV can be rejected before you even get an interview, with employers thinking you can’t handle the role.
- Limits Growth: If employers think you don’t have the expertise, you are likely to find it hard to jump up the career ladder. Getting a more senior role becomes increasingly difficult, limiting your career prospects.
- Weakens the Resume: If you’ve got a CV with 5-6 jobs on it in a very short time span, employers are less likely to hire you. Not only will you be seen as inexperienced, but also disloyal.
- Job Security: Someone seen as not committed will be the first to go when there are layoffs. Regular job-hopping leads to poor job security, which isn’t good for your mental health.
Why is Job Hopping Bad for Employers?
It’s not just employees, employers too suffer from regular job-hopping. For one, if employees keep leaving your company, it can be hard to build a reliable core team. Every business needs a core to drive innovation and growth. The core team isn’t just the CEO but includes heads of all the departments. They act as the glue that brings the wider company together.
Without a core team, a company is very unlikely you will be able to stay competitive for long. That is more damaging for SMEs and startups, where job-hopping is more common. Another reason job-hopping is bad is that job-hopping is expensive. Employee turnover has a huge financial impact, which can sink a small business with limited resources.
That’s because you have to bear the costs for recruiters (if you use third-party ones), costs for interviewing and hiring candidates and then training them. According to G&A Partners, replacing an entry-level candidate can cost up to 50% of his/her annual salary, and up to 150% for a senior supervisor.
As a business, it is vital you find ways to get your employees to stay. Just offering a good salary isn’t enough. It will keep some employees, but others will find reasons to leave. That’s why you need to pay attention to your employee experience. Ensuring you have a positive company culture is just one of the many things you can do to limit job-hopping. Here are a few others:
- Be More Transparent: Show your employees that they are valued assets. Listen to their issues, and work with them to resolve them. It’s also important you share everything with the company, from successes to failures. That’s how you build a transparent company culture.
- Recognize Achievements: Even if it is something small, ensure that you recognize an employee’s achievements. A certificate, shoutout on social media, an Amazon voucher, or even a company-wide mail are some effective ways to do so.
- Ensure Work-Life Balance: Nobody wants to be working all the time. Ensure your employees can go home and not have to worry about work till they show up the next day. Giving them time to switch off will help ease the pressure, making it more likely that they will stay.
- Advertise Truthfully: When advertising for a role, make sure you represent the company and the job as truthfully as possible. Nothing annoys employees more than learning that they have to do something they didn’t sign up to or aren’t qualified to do. It will reduce job hopping drastically.
- Provide Employee Healthcare Benefits: Take care of your employees by providing employee healthcare plans. A healthcare membership is a good way to show your team that you care about their wellbeing, which is likely to reduce job-hopping and increase loyalty.
We hope you learned something new after reading why is job hopping bad for businesses and employees?
If you are an employer, entrepreneur, or SME and looking for affordable employee healthcare then check out Onsurity? Onsurity’s employee healthcare plans are a great way to take care of your team, giving them more reasons to stay.