We recently surveyed 129 active job seekers and asked them how long were they employed in their most recent job. Their industries ranged from the receptionist to the CEO.
It turns out that most people we surveyed lasted less than two years in their last job.
Interestingly a German study of newlyweds showed the happiness boost of marriage also wore off around the same time!
What do employers expect as a minimum?
When we talk to employers, we regularly hear “we don’t want job hoppers”.
By this they mean they want to see that the applicant has a lasted more than two years in each of their previous jobs over the past 10 years.
Many employers believe that regardless of circumstances, an employee’s longevity in their past roles predicts how long they can expect them to remain in their next.
Why should the employer worry about how long I stay?
Let’s work out how an accountant might see it.
The cost of replacing a staff person is generally acceptable as being one year’s wages. This includes the cost to train, recruiting and lost business due to the disruption whilst going through the process.
The minimum expectation for a profitable company is that you generate 3x your wage.
1/3 is your wage
1/3 is the cost of the product you’re making
1/3 is profit
That means to breakeven on hiring you; you need to be in the role for a year.
Is this realistic?
Most people surveyed lasted less than 6 months!
The results also indicated that we experience a 1 year, 4 year and 7 year itch when it comes to job changing.
For better or worse, every time you change employer’s you are affecting your Employment Brand.
Changing jobs is one of the top 5 stressful events in our life
Is change really as good as a holiday?
Do you make the job more challenging by taking on more (and get more pay!)?
Food for thought, I’d love to hear yours