Unlike in the past, businesses are more dependent on their
top performers to innovate and provide services that distinguish
them from their peers. In other words, human assets are
vital to survive and thrive in today's business environment.
With the increasing job opportunities and cut-throat competition,
many corporations and government agencies are struggling
to retain their valued employees. In the past, retaining
top talent was not an issue, but the changing patterns of
employer-employee contracts have created new structure in
the workplace. Earlier, employees used to work hard, be
loyal and give their all against a job for life, and be
happy with regular salary increases and promotions. However,
that system is no longer valid and the new contract states
that employees must now work harder. They are not only doing
their jobs, but the jobs of their former co-workers who
were right-sized. Moreover, job security is extinct, promotions
are limited but salary increases are modest at best, while,
constant uncertainty of change is the order of the day.
Welcome to the world of job-hoppers. It's an employee-driven
economy and organizations have become talent dealers by
adopting aggressive pay positioning and increased benefits.
With more opportunities and avenues round the corner, organizations
are increasingly at the mercy of employees. Job-hopping
is a practice of changing jobs frequently, especially as
a means of quick financial gain or career advancement. In
most of the industries, job-hopping is the norm and job-hoppers
are now readily accepted by many employers as a new breed
of flexible employees. Today, one-quarter of all employees
have worked at their current job for less than a year.
Job-hopping is more common and accepted in the high-tech
industry than in other industries. In tight high-tech labor
market, to attract the right talent, IT companies offer
lucrative stock options for skilled workers. Of late, even
traditional industries are seeing people change jobs more
often. Rick Pflugradt of ProTemps Professional Personnel,
an Oakland placement says, "It used to be that 10 to
15 years at a job was considered good stability. Now, it's
not uncommon for people to move around from year to year."
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