The days of working 35-40+ years for the same employer and retiring with a nice pension after years of work and loyalty seem to have been replaced with a new normal – changing jobs every few years pursuing knowledge, challenge and career satisfaction. How many people do you know that have started and ended their career at the same company?
According to the Bureau of Labor Statistics the median tenure for US wage and salary workers is only 4.2 years. While data shows that numbers vary depending on age, industry, and location, chances are that nearly everyone will change jobs at least a few times during their career.
Assuming that you have avoided a layoff or company closure, how should you know when it is time to make a switch? The cutthroat job market competition due to the Covid-19 pandemic is a fierce battleground right now and employees may be reluctant to leave the familiar for the unknown. We know that leaving an old job for a new job always involves a bit of risk and uncertainty, there are some factors that make it worth the risk. Let’s explore some areas that warrant taking a leap of faith in your career.
As a company grows, the number or tasks that need to be completed generally grows in order to keep operations running smoothly. In a large number of cases, employers don’t grow their staff as quickly as new tasks start building up, and the tasks fall on the plates of the current staff. When this occurs, employees often find themselves taking on more and more duties outside of their general job description, frustrating, overwhelming or disengaging them. Employees should expect that some added job duties are expected in any role. However, if months and months or even years go by and the responsibilities continue to increase, the employer’s unwillingness to increase headcount and assign manageable workloads may trigger a job search.
No Increase in Pay
As your workload increases and you show continued value to your employer, your salary should increase accordingly. The inflation rate in the US generally fluctuates between 1.9 and 2.1 percent annually. Employees that do not see at least that increase in their paychecks each year, actually are making less than they did in previous years. Most employers are going to expect to see that employees can handle their job responsibilities and make a positive impact on the organization before providing raises. However, if you receive positive feedback on your performance, but your salary is not keeping pace with your responsibilities or the cost of living, a job change may be in order.
Lack of Feeling Challenged
The negative stigma around job hopping isn’t the same as it once was, because majority of employers now prioritize a progressive record of responsibility and challenge over multiple years of tenure with the same employer. If you notice that you are not being challenged regularly in your current job, it is up to you to seek out a role that will push you to accomplish new skills, new goals and exceed expectations on a regular basis rather than the performing the mundane tasks every day.
Lack of Appreciation
A recent survey revealed that 66% of employees said they would likely leave a job if they felt unappreciated, while 76% of millennials said the same. There are a number of different motivations that drive employees throughout their careers. Employees seek challenge, some seek money, and more popular recently is great work/life balance, but everyone wants to feel appreciation for the work they perform. Employers that fail to recognize workers for a job well done will have poor employee retention as employees continue to transition to companies that foster a culture of appreciation.
Lack of Job Satisfaction
Are you ready for some scary figures? Well, the average employee spends 13.2 months of their lives at work, or around a quarter of their time during their working years. That combined with the fact that 80% of employees are dissatisfied with their jobs is just scary. Do you really want to spend 13.2+ years of your life doing something that you feel is unsatisfying? No thank you, it is time to take action. Step 1 – Determine the source of your dissatisfaction. Is it management, job duties/responsibilities, your industry, or a lack of work/life balance? Regardless of your answer, it can be changed, though some may take longer than others. You may find that finding a new manager that better fits your needs is pretty simple, but changing industries may be more difficult and be a bit longer to accomplish. Life is short! Don’t spend years in an unfulfilling job.
Toxic Work Environment
One of the most urgent reasons to change jobs is working in a toxic work environment. It is unfortunate, but there are companies and managers that employ harsh language, abusive behaviors or threats as a means of motivation. This may help them achieve short-term results, but it will inevitably lead to high turnover, disengaged employees, indifference or apathy to work quality, and foster a culture so stressful that it may cause a number of health issues. Majority of employees who have the misfortune of working in a toxic environment state that any sacrifice is worth escaping.
Very few employees can claim that their job is perfect. As in anything there is always room for improvement both as an employer or as an employee. Most organizations are not subject to an employee evaluation like employees are to a performance review. If an employee is given an opportunity to provide feedback to a manager or company leaders, issues may take time to be resolved. As shorter job tenures have become more widely accepted, employees are finding few reasons to wait months or years for their situation to improve. Instead, employees are seeking more favorable opportunities in order to advance their career. Employers must now offer much more than just a paycheck to attract and retain top talent in their fields.
Does your company have a high turnover rate? Do your employees look happy? Contact us today to find out how MCDA CCG can help you transform your organization and help you retain your top performers.
Are you an individual that feels they need to make a change? Contact our recruiting specialist and let us assist you in finding an employer that better suits your needs!