How Recession Impacts Job-hoppers
On a Saturday evening, over a family dinner my brother announced that he had secured a new job as a manager in one of the top restaurants in the city. We congratulated him and enquired about the restaurant and his work profile. In the process, my dad put up a sad face, expressing his disappointment over the present generation and their job-hopping issues. It was followed by a light-hearted debate where the baby boomer (dad) spoke about his work experience of decades at the same place and the respect and stability it got in his life while my millennial brother justified his choice by emphasizing his right to be happy with his career professionally as well as personally.
We have all been in a dilemma at some point where we had to choose either better packages and benefits or stick to the present one to reflect stability in our resume & avoid the label of a “Job-hopper”.
So, who exactly is a job-hopper?
Employees working for a short term on a particular profile and moving to another job, are labeled as job-hoppers in the professional world. Along with changing generations, the approach and behavior towards job-hopping also has an increasing curve. Reasons for job-hoppers differ. The most common would be the mismatch of Software Company values or choice of job role/ salary package/ benefits while for some it's just the coincidence of being laid off due to Software Development Company finances or resigning to attend family emergencies, health issues, higher education etc.
Below shared is the breakup of generation and the reasons for switching jobs, as per LinkedIn’s study.
Job-hopping is often seen as one of the elements for the candidate to be rejected. Initial period being the learning period, the IT Employee understands the depth of their work in the first six months, followed by the period where they create an impact by their work , add on to the business building process and get hands-on experience of different skills. Employing a job hopper is something the employers would like to take off the list.
According to a Statista study conducted across South Asian countries, here are some of the reasons why employers reject job hoppers.
Amidst the hustle of inflation, experts forecasting recession to come soon, MNC’s freezing their hiring, Software Employees being laid off is closing the window of opportunities for job hopping. Additionally, the entry of fresh graduates in the near future will make job search race more competitive and tough.
Sticking to the present job, focusing on better performance, self development along with some side hustle would be the right step to be recession-proof. Job-hopping can only be chosen, after securing your place into a strong company of a stable vertical. If you're able to find a job in a stable sector it will not only help you survive through the recession period but also enable you to make more money through good investments.
(Author: Alisha Fernandes is an inquisitive learner & content writer at TechDoQuest)