Gen Y's "lack of loyalty" is a problem for employers, but it also presents a money issue for job hoppers as well.
Tim Devaney and Tom Stein write in ReadWriteWeb that job hoppers actually make less money than those who stay at a company longer, according to research conducted by Kathryn Shaw, a professor at the Stanford Graduate School of Business.
The study included 50,000 Silicon Valley software employees and found that those with five years' experience with the same company actually received 8 percent annual raises compared to 5 percent annual raises that those who frequently changed jobs received. They are also more productive and creative than those who leave often.
“To constantly hop between jobs to try to chase the greatest pay is not advisable,” Shaw told Devaney and Stein. “If you take someone who has high income right now and look at the sources of that income, what they did to achieve that high income, how they did it was staying with one or two employers, not by hopping [among] employers.”
Richard Dukas, CEO of Dukas Public Relations — a financial PR firm — agreed with Shaw. He told us that people should jump around if they're "looking to find the perfect career...for challenge and stimulation."
But job hoppers should be cautious as to why they're doing it.
"If you're going to go for another opportunity, do it for the right reasons and don't do it too often. Do it because you're still looking for the right career for yourself, your calling, your niche, but don't do it because you're trying to climb the corporate ladder."
If you're constantly changing jobs because you're offered a better title or more money, it'll become obvious to hiring managers and it might work against you eventually.
