Are you on a career ladder or just switching jobs without a plan?
In the GenZ and Millennial-driven workforce and the arrival of the Gig economy, job hopping has become the new norm. The pride of working for a single organization for decades has been replaced with the modern upskilling and growth mindset. Being in the same job for a longer period also impacts finances.
Here is the comparison of the growth scale:
The pros and cons of job hopping are always under the spotlight. One of the core reasons for job hopping is higher pay, followed by other employee benefits, work culture, and career choices. Although time and market conditions are also among the crucial factors while deciding on a job or career shift.
Career jumps during financial crises may not be a great move, leading to the loss of jobs and career stagnancy. Continuous and unplanned jumps are a hindrance to better opportunities and also freeze professional growth. A well-planned career move through upskilling accelerates steady and stable growth. As per a Gallup study, professionals with digital skills earn 40 to 65 percent higher salaries compared to people whose work does not revolve around the use of computers.
A career move can be taken in varied directions, be it in a dual pattern while shifting from one department to another within the same organization, or go straight up the limitless vertical ladder while also embracing the traditional horizontal ladder of moving into different industries for the same kind of work. There is also another dynamic ladder which includes shifting from one career to another, which comes with higher risk, but is ideal to follow one’s passion.
Jumping from one job to the other gives immense exposure and learning opportunities. It also acts as a way out from the existing toxic work culture, if any. However, if correctly timed, it enhances work-life balance, giving space to self-growth while also elevating you financially.
Career development like a life cycle is inevitable. More the exposure, the greater is the growth, and vice-versa. Financial status, on the other hand, is directly proportional to career growth, if one gets stagnant, the other stops and may also crumble if not checked or improvised.
(Author: Alisha Fernandes is an inquisitive learner & content writer at TechDoQuest)