Job Switching-The New Normal Of Job Stability
This age is marked by beliefs which stand juxtaposed to the ones we have been brought-up with. The career graphs are getting shaped in ways unthinkable a decade ago. Generation Y is not only unstoppable but unpredictable as well. They have successfully scaled new highs by challenging the traditional rules of career wisdom-the ones which were sacred to every job previously.
Paradigm shift in approach
One life-one job is far too obsolete a phenomenon to be mentioned to the new age employees. The age-old norm of settling down at one place with a stable job which is decent perks and a comfortable salary has lost ground altogether. A recent survey states that around 60-63% of the employed workforce in India feels that changing jobs after a reasonable length of time, enhances the career graph and about 53% population are actually taking it.
Mr. V Suresh, Executive Vice President and National Head Sales, Naukri.com is of the view that employees of Generation Y are always on the move and find it difficult to be at one place for a longer time mainly because they see greener pastures ahead or even the flattening of learning curve or falling of company shares. All this leads to a shift in focus which results in early attrition. He adds, “rolling stones gather no mass and one has to stick to a company/profile for atleast 3 years for proper value addition. The onus lies on the employers as well, as they should keep the workforce motivated psychologically by trainings, proper spacing of new projects and a role-rotation. It is a great HR challenge but there are firms who are doing it successfully.”
Why employees change jobs?
The financial kicks: The generation-Y is well-oriented and highly ambitious. They are driven by the self-propelled zeal to be successful and famous. Thus, this new altogether new race of individuals are continually finding ways to fulfill their dreams which are far beyond the scope of a lifelong job-approach where positional and salary perks comes after a due period of performance and time.
Mr. Nishchal D.Kaudanya, National On-Trade Manager, Radico Khaitan Ltd., rightly states that “switching jobs is now a common phenomenon in corporate circles and it happens at all levels in the organizational hierarchy though is more prevalent in the beginning of the career line where the financial factors play a major role apart from better position and growth opportunities. The companies are becoming more comfortable with the phenomena as long as one is spending not less than a year at a particular profile and one has valid reasons for the job-change.”
Common paths don’t work: Hiring has become more ruthless and hard. The commonly heard notion of hiring hard and managing soft is gaining ground. The employers are looking for multi-faceted individuals who have diverse skill-sets and are open to increasing responsibilities and pressures. Multitasking is the new norm and is appreciated across all head-hunters and the traditional degrees are losing out to new-age course capsules. The much trusted common path to get jobs by studying indefinitely no longer quenches the thirst of employers.
Mr. Kundan Varma, Group Head-HR, MMR Group voices concern and adds that hiring-policy of organizations is becoming more regulated and tight. People with multiple skills are preferred above the ones with heavy degrees. So, diverse experiences do play a trump card but, job-hopping is never welcome by any firm for any kind of employee as all attrition costs heavily on the company’s resources Such candidates are difficult to consider for strategic positions, even if they qualify on other criteria unless they have valid reasons to support their shifts.
At senior positions neither the phenomena very common nor are the reasons so frivolous. A senior-level shift in job if happens it depends on responsibilities offered by the new job and the kind of value addition they can make to the new company. “I would like to stress on the fact that one has to do his/her homework right, have clarity of thoughts and transparent in approach before agreeing to join a particular organization. One has to have an underlying commitment towards the job he/she is accepting at large.”
The economic fluidity: The generation- Y cannot boast of a financial stability which was done by their fathers.s Every luxury is affordable, all thanks to the brainchild of financial gurus that EMIs have become a household name and pain. The whole lot lives on EMIs and is heavily in debt. They are no longer averse to buying things beyond their means depending on easy financing options-a thing which was a typical ‘no’ for the previous generation. Cost of repayment of EMIs is much more than money; it’s the entire social stature at stake. The ambitions are more fluid and short-term. Thus, this total divergence of buying behavior creates a different pull on earning potential which calls for steep and quick career progression.
Mr.Debasis Dutta, Senior Manager Operations, WNS Global Services, Pune, likes to add to the story with his valuable viewpoint that this is a latest trend that employees across all the verticals are following looking for quick growth to fulfill the demands of expanding lifestyles and luxuries ,but individuals forget that by hopping jobs the resume of an individual not only becomes too big but, it also means that he has been working on different systems and procedures making him/her Jack of all trades and Master of none. I feel that if you have an ambition and your goals are in place, you will know what road to take and where to take turns.”
Personal growth: Personal development has always been a prime issue of focus but it could not gain more relevance than in today’s times. All jobs offer a progressive curve which plateau’s after a considerable length of time. This is the period when one the personal growth takes a downward spiral from thereon. This can be in terms of learning new skills, growth, perks etc. which happens in a healthy and conducive environment only. This is now felt that continuing a job for longer than a particular span of time lends one useless for all other profiles. This is career stagnation and such individuals can never explore their potential to the fullest. Such extended working on the same job can substantially erode adaptability to newer skills, situations, people and places.
As Mr. Dilip Naidu Visiting Faculty for Strategic Management, Symbiosis Centre for Management and Human Resource Development, Pune and On-Selection Interviewer Panel,Symbiosis Centre of Information Technology, Pune rightfully states that “If an employee has developed full potential in his organization and has no opportunities for further growth it is best he leave the organization for another. In an organization which breeds negative emotions due to an unhealthy culture, lack of trust and weak leadership the employee makes an unbiased assessment – if he is not in a position to effect a positive change and is not getting adequate traction to effect a change – then too he should leave.
The Employer’s Onus:
Job-hopping has become every employer’s nightmare as it costs very heavily on the firms. The resources the company spends on recruiting and training an employee are far more than the maintaining them. So it is very painful on the company’s purse to see frequent employee attritions and it also subtly but badly hampers its goodwill in the market. As Mr. Naidu puts in, finally as the cliché of the time goes – “there is a war for attracting, developing and retaining talent” and it is the leadership and organization where the buck stops and ultimately the responsibility to create a learning and supportive culture rests squarely with them.