The Hyper Economy: Why You Shouldn't Stay At a Job Too Long

Job hopping is universally acknowledged to be damaging to professional advancement. But what if that assumption was wrong? As it turns out, it can also be detrimental to your career to stay in one place for too long.

Here's why you should rethink your career path.

Career paths aren't like they used to be

The job market has dramatically shifted during the last decade. There is less of an emphasis on having a stellar resume and more on having a unique internet presence and standing out from the crowd.

Instead of entering the financial rat race like many generations of overworked professionals, younger generations are far more focused on finding pleasure and purpose in their employment. This is especially true of the younger generations.

Therefore, if they discover that one job does not serve them after a particular time, they may be less hesitant to move on to better pastures to search for the joy and satisfaction they initially intended to achieve in their employment.

However, many businesses fail to see now that the current labor market is shifting in ways that work out to their advantage in the long run.

For example, working on a freelance basis is quite popular right now. The so-called "gig" economy, which refers to situations in which employees sell their labor to firms on a per-job basis, is expanding at rates that are in the double digits.

Suddenly, companies are more open to contractors and freelancers than traditional employees — and so are the workers.

The 2-year rule

You can't determine how long you'll remain in a job without knowing the specifics of your workplace and professional aspirations. It's natural to want to advance in your career while employed somewhere.

Your present employer may not be able to fully use your skills and expertise if they do not have the means to do so.

The accepted thinking is that one should work for the same company for around two years before considering switching jobs. It's long enough to get experience and improve your credentials yet brief enough that you don't get stuck in a certain way of thinking and working.

The maximum amount of time you should spend in one job (at one company with the same title) is two years, and you should never settle for a role that offers no professional growth. Doing so will cause you to miss better pay and career chances that others who jump from job to job will have the opportunity to take advantage of.

Should you job-hop forever?

Communicating, networking, and working well with others are all highly prized by employers. Job-hopping involves many key aspects, such as:

• Constantly adapting to new environments
• Meeting new people
• Learning new processes.

Though you may not have used the phrases "excellent people skills" or "very adaptable to shifting work situations" on your CV, you'll gain these qualities through job hopping.

Changing jobs often might be the best approach to boost your income. According to the findings of a 2019 ADP survey, the average salary rise for employees who do not switch jobs is less than 4%, while the average wage increase upon job change is over 5% (which echoes the statistics above).

When you've settled on job-hopping as your strategy, it's essential to do it thoughtfully by considering whether or not the following position is a good fit. Don't change jobs only to increase your income or your status.

It would be best if you verify that this new position represents a significant advancement in your career or a substantial change from your previous jobs. Alternately, make sure you're picking up some new abilities and experiences.

Remember that individuals change occupations less often as they age. Thus, the sooner you make the transition, the better off you will be in the long run.

You'll know that job-hopping is successful when you continue to like your work. You may not have the same job or profession as you had five or ten years ago, but you have found something you are passionate about and are learning new things every day.

What if I like my job?

A career is much more than just about making money. Do you come home at the end of the day with the sense that the job you did today was meaningful and made a difference? What about the possibility that working at the new firm won't give you the same time or freedom to pursue other interests?

Assess both companies' mission statements to see which inspires you to work harder and choose if it should be the one you work for. Find a career path that satisfies both your drive for impact and growth in compensation.

Although changing jobs at a faster rate boosts your salary, you should never quit your present work unless you can demonstrate that doing so aligns with your professional development goals.

If you like your work, the people you work with, and the salary, don't leave. Few things in life are as gratifying as having a career that allows you to maintain your lifestyle and provides you with the possibilities you wish. So long as you remember that there are an unending sea of work opportunities waiting for you when the time is right.