To understand the prevalence and impact of job hopping among GenZers and Millennials, in October, ResumeBuilder.com surveyed 1,000 full-time workers ages 21 to 40.
Key findings:
- More than half of GenZers and Millennials have job hopped in the past 5 years
- 8 in 10 increased their salary as a result of job hopping
- 9 in 10 are job searching and remain open to new opportunities
- Majority say they are likely to leave current company by the end of 2024
1 in 4 GenZ/Millennial workers have changed jobs 2 or more times in past 5 years
Fifty-one percent of respondents say in the past 5 years, they have voluntarily left at least one job after less than 2 years, which we defined as ‘job hopping.’ GenZers were much more likely than Millennials to say they’ve job hopped in the past 4 years (73% vs. 44%).
One-quarter of respondents have job hopped two or more times in the past 5 years, while 3% say they’ve left 4 jobs.
According to respondents, the top reason for job hopping is to get a higher salary (62%). Additional reasons include wanting better working conditions (51%), more growth opportunities (51%), and better benefits (49%).
8 in 10 job hoppers increased their salary in the past 5 years
The majority (80%) of job hoppers have increased their salary over the past 5 years. In fact, 20% have increased their salary by $50,000 or more. Four percent of respondents even say they increased their salary by $100,000 or more.
Resume and career strategist, Julia Toothacre approves of early-career job hopping.
“Early career is a great time to job hop because you’re figuring out your core skills, what you like to do, how you like to be managed, and what a good work culture looks like for you,” says Toothacre.
“A benefit of job hopping is getting to try different companies or industries, but mostly it’s to get better pay. Switching jobs every 2-3 years can yield large gains in your salary if you’re intentional with skill building, networking, and continuing the job search while you’re employed. However, one of the drawbacks to job hopping is that it can be seen as noncommittal. Many hiring managers want to hire people who plan to stay with a company for at least 4-5 years.
“Job hopping and gaps have become more common, which will force employers to be more open-minded. Younger managers don’t care as much about job hopping if you have the skills and experience.
“Loyalty is hard to come by from a company and younger workers realize that. Similarly, companies aren’t offering enough growth opportunities to keep high performers and producers. If companies want loyalty they need to challenge, adequately compensate, and invest in younger employees.”
9 in 10 are currently open to new opportunities
Although 90% of respondents say they have ‘a great deal’ (46%) or ‘some’ (44%) loyalty to their current employer, the majority (53%) say they are ‘very likely’ (15%) or ‘somewhat likely’ (28%) to leave by the end of next year. GenZers are more likely than Millenials to say they are likely to move on by the end of 2024.
Fifteen percent of respondents say they are actively job searching and 24% are passively job searching. Additionally, 48% say while they are not job searching, they are open to new opportunities. Only 13% say they are not currently open to new opportunities.
Overall, 22% of respondents say they’ve only been with their current employer for one year or less, while 38% say 2 to 3 years, 17% say 4 to 5 years, and 24% say 6 or more years.
“I encourage all workers to have a findable, up-to-date LinkedIn profile. Engagement with professional associations is also helpful to keep your name active to other professionals in your field. Finally, staying connected to key people in your professional network is a great way to casually look for new opportunities without hunting on job boards,” say Toothacre.
Half don’t believe workers need to stay with a company for any amount of time
Forty-nine percent of respondents say they do not believe there is a certain amount of time that an employee needs to stay with a company.
Of the 51% who do believe there is a certain amount of time you need to stay with a company, 65% say that amount of time is one year or less, 12% say 2 years, and 23% say more than 2 years.
“While there are benefits to staying with some companies for longer periods of time, there isn’t any set rule. I encourage my clients to stay at a company for at least 2 years, but in situations where there is toxicity, unmet/unclear expectations, or it’s not a good fit, I would encourage someone to take the steps to leave. Loyalty isn’t worth your mental and emotional health,” says Toothacre.
Methodology
This online poll was commissioned by ResumeBuilder.com and conducted on SurveyMonkey Audience in October 2023. Overall, 1,000 respondents between the ages of 18 and 40 completed the survey that currently work full-time.
Respondents consist of a national sample that was randomly selected from a U.S. panel and balanced according to U.S. census data for gender and region.
Learn more about SurveyMonkey’s methodology or contact [email protected] for more information.
