Change Your Job for Better Salary, Company Loyalty Doesn’t Pay, Says HR Expert; But, There’s a Catch
This Report highlight the evolving perspectives on job loyalty and the potential benefits and risks of job-hopping in today’s job market. Vera Lau and Jerome Zapata argue that job-hopping benefits employees more than corporate loyalty. A WorkProud study reveals declining interest in long-term tenure among younger workers, with only 18% under 30 showing interest.
In a rapidly evolving job market, HR experts Vera Lau and Jerome Zapata argue that job-hopping benefits employees more than corporate loyalty. A recent WorkProud study reveals a declining interest in long-term tenure among younger workers, with only 18% under 30 showing interest.
The New Norm: Job-Hopping
“I don’t think loyalty pays off,” says Vera Lau, a 27-year-old who has worked at three different firms. Speaking to CNBC Make It, Lau, part of the GenZ generation challenging corporate norms, describes loyalty as “very transactional.”
“You’re only valuable for as long as they see you as valuable. If you don’t learn and you don’t earn, it’s time to go,” she asserts. Lau contrasts today’s job market with the 1980s and 1990s, when people were just grateful to hold a job and make a paycheck. “Our perspective on work has changed,” she adds, noting that a paycheck alone is no longer enough to cover living expenses.
Expert Insights
Jerome Zapata, HR director at Kickstart Ventures, echoes Lau’s sentiments. He notes that job-hoppers are often paid better because “merit increases can only go so far.” Job-hopping allows candidates to negotiate from a position of strength when joining a new company.
“[During previous generations], if you stay loyal to an organization … they’ll take care of you for life. Right now, the retirement benefits are not livable,” Zapata explains. He adds that job-hopping early in one’s career can give candidates an “edge,” as they often gain more responsibility or perspective.
The Numbers Speak
A May 2024 study by WorkProud, which surveyed 1,000 full-time employees, found that only 23% of workers aged 42 and under are strongly interested in long-term tenure with their current employers. Among workers aged 30 and under, this interest drops to 18%.
The Catch: Flight Risk
However, frequent job changes come with their own set of challenges. While job-hopping is generally more accepted among early career candidates, it can be stigmatized for those in senior leadership roles. Demonstrable loyalty remains an important quality for companies.
Sumita Tandon, Director for HR, APAC, advises employees to weigh the pros and cons of job-hopping. “It could be lucrative if they want to explore new career paths or a pay rise, but if they do it too frequently, they can also be considered a flight risk, and companies may be cautious in investing in them,” she tells CNBC Make It.
Stay tuned, to PropleManager.co.in for further updates on the evolving workplace paradigm.
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