There used to be a time when job loyalty was considered to be supreme. People used to work for 30-35 years in one company dedicatedly and retire happily with pension and a golden watch. Take the example of the chairman of the biggest IT industry of India, Tata Consultancy Services, Mr. Natarajan Chandrasekaran. He graduated and joined the company as an Associate System engineer trainee and started working. He stuck by the company over the years, got promoted step by step and see now he is in one of the positions which is extremely supreme and prestigious, and that is the position of the Chairman of the company. His dedication and loyalty towards the company is extremely commendable.
But, do we see the same amount of determination in this generation? Do we see the same level of affiliation of an employee towards the company he works for?
The answer to the question is NO. In today’s world, where a good salary has become the higher priority than the quality of job, people are much concerned about how much will they be paid when they land in a new job. People who are referred to as job hoppers are the ones who do not stick to one particular job for more than 2 years. They keep switching their jobs and thus the biggest challenge for a company is to hire that right employee who turns out to be a valuable asset. But today, an even bigger challenge has become is to retain those valuable employees.
According to research, employees are quitting their job very frequently than usual. Why is it so? Because these job hoppers tend to have a higher salary growth as soon as they switch jobs. This is comparatively higher than the ones who stick to the same company for a long time.
But the reason why people switch jobs more often? What comes in their mind to leave this job? Are they dissatisfied with their managers, work profile, culture, timings or money?
So job switchers are the ones who saw no growth in their previous firms, saw it as a point of saturation and hence switched to a new job because they found it better and it offered them a chance to grow monetarily and provided with a better job culture.
It is said that employees who change jobs frequently possess a strong bargaining power and experience a bigger bump on the salary. They take job change as an answer for their stagnation in their career and financial growth. But the ones who stick to one company for a long period of time gain trust of their superiors, leads and managers but they do not grow as much on the salary front as the job hoppers. They get lower pay as compared to the ones who switch their jobs.
Companies on the other hand fail to recognize the efforts given by their employees and the dedication they show on their job and are loyal to the company. They discuss so much about retention but they take least efforts to achieve it. People are in a hope that the upcoming appraisal will give them the salary hike they have been aiming for. But at the end of the financial year when the percentage of raise is announced, it disappoints everyone. They start feeling that they are not appreciated for the hard work and time they invest into their work to meet the deadlines.
They start showing disinterest in the work and slowly start searching for new opportunities in the market. They start finding a place where they are appreciated and rewarded for the work they do and slowly they leave the job and switch to another company. A repeated pattern has been noticed in the ones who switch their jobs that is they very quickly adjust to the new environment upon joining a new company, learn new things quickly, make good impressions on their peers and seniors.
There are different factors that make an employee stay in a company for a longer period of time and these are
- The quality of the people they work with
- The way they are treated in a team by their superiors
- The feel that the amount of work they are doing is meaningful and adds value to the company
- The rewards they get for the hard work done.
Once a company sorts these things out it will become very difficult for an employee to leave his company since he will reach his high level of satisfaction and will never crave for acknowledgement and rewards. He will be as happy as the ones who are hopping jobs like nomads.
If you want to know three things that you should consider before going for a career switch when you have no clue click here
I hope this article was useful for you to know why people are switching jobs more often and what are the reasons behind it.