Job hopping gets much attention from companies when they are in hiring mode and rightly so. This business article provides some interesting statistics in regards to upper-level management trends.
Did you know:
- A total of 17,612 managers from chief executive officers to vice presidents changed jobs from January through July, more than twice the 7,251 during the same period in 2005, New York-based Liberum Research said in a study released Tuesday.
- Of the executive changes, 1,636 were CEOs, up 50 percent from 1,089 in the first seven months of 2005
- The pressure hasn’t been just on CEOs. Some 1,444 chief financial officers left their companies through July this year, up from 963 in the same period last year
This trend is consistent in all areas of modern-day business. Career stability is certainly of value but the days of 6-10 year stays at a company are quickly fading. As we have written often, the younger generations are leveraging today’s technology to be consistently informed of other opportunities. They change jobs far more frequently than the boomers.
One downside that rarely gets discussed – employees with long tenures at one company may not have the adaptability to respond to today’s quickly changing markets. Success in one company’s system often leads to a very specific skill set and a limited comfort zone. This fact must be considered when sourcing candidates. “Job hopping” may actually have a benefit in today’s market as long as success in the positions can be determined.