Updated on March 25, 2020
Life is faster than ever before.
Which means tracking job changes is harder than ever before. People are voluntarily changing jobs at an alarming rate, and it's not just millennials! Employees and employers are feeling it where it really matters: their pocketbooks. When someone changes jobs, it costs their former company 1.5-2x that person's salary on average. Not to mention the hit to morale and company culture! The company has to hire, train and wait for the new hire's productivity to reach the level of the former employee.
The real downside of this jump in employee turnover is that it fosters a lack of trust on both sides. Managers are quicker to hire and fire, which means companies are missing out on employees that would be seriously valuable over time.
Gone are the days of sticking with one career for life. We all aren't surprised to hear that millennials change jobs more than any generation before them, but what about everyone else? When an employee is happy, they don't even consider looking for a new job, so what's going on?
Where we step in
At TrackJobChanges, we track job changes. Understanding why people change jobs helps us help you! We scoured the data and after reading many insightful articles, we've determined the top 3 reasons people change jobs.
Successful people change jobs more frequently, plain and simple. Future employers like to see a variety of experience and nowadays, most employers are happy seeing just a 1-year commitment (especially when it spans a new year, so you can put 2016-17 on your resume). The more you switch jobs the easier it is to get raises and promotions. Think about it.
Would you rather increase your earnings by 4%/year or 12%/year?
Ben Baxter increased his salary by 31% in 4 years by switching jobs every 6-12 months! Be like Ben Baxter.
In the 21st century, people want to gain new skills, have more opportunities and increase their earnings as fast as possible! Millennials always get the bad rap as job-hoppers not because they are the only generation, but because they do it the most. Millennials have only ever known this fast-paced way of life and they value the same perks as their seniors - flexibility, purpose in work, gaining skills, etc. - they just aren't willing to wait to get them! However, one detail does stand out for milllennials. According to Benchmark Recruit, when millennials switch jobs the pay out is much greater than their older counterparts.
Dissatisfaction with leadership
Everyone has heard someone complain about not getting along with their boss. Turns out it's one of the top reasons that TrackJobChanges gets to track job changes! According to, HR Expert, Alison McMahon, one of the top reasons people leave their job is to escape their boss. Bad management accounts for approximately 42% of employees changing jobs. When managers don't recognize good work, put their employees career path on the backburner and promote the wrong people, employees quit! Who would've thunk?!
Less dependence on the office
It's easy to be a self-sufficient employee in 2017 [Tweet this]. Wifi is practically worldwide, laptops are cheap & durable and not to mention remote work is super in! With this "digital nomad" phenomenon, there's no longer the need to rely on one company in one location. People love the freedom of being able to stay home with their kids, travel or simply live wherever they want while holding down a job. Relocation is no longer necessary to earn a competitive wage as employers are much more willing to hire remotely. Plus, remote work is said to increase productivity!
So what can be done?
- Paint a picture: It's important to paint a picture of where your position can take the candidate. A vision for the future attracts job seekers and may even give them that little push to leave their current job.
- Show your company brand: potential employees are hesitant to work for you because they don't know what working for you is really like. Give every day examples from the position their applying for, working in the company as a whole and the extra little perks that make your company so special.
- WFH option: A clear work from home policy, even if only part-time, can go a long way in retaining certain types of employees. Just make sure that if you offer it to one department, you offer it to the whole company.
- Have a clear plan for advancement and actually talk about it.
- Respect that your employees have lives outside of work.
- Good mentorship: employees want to be cared about and have their skills developed in the direction they want to do. Help them get there and they will reward you with loyalty!
- Use this knowledge to your advantage: If you're unhappy at your job, see what's out there! With persistence you may find exactly what you've been looking for all along!
- Don't stay in a job because you're afraid of looking like you're not loyal to future employers for leaving. Stick with a job for at least a year and if you're ready, move on. Your work will speak for itself.
- The world is your oyster, so go out there and get it!