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According to the Bureau of Labor Statistics, an average person would hold an average of 11.9 jobs from the age of 18 to 50.
The maximum number of years they stay in their job is around five years. It only means that they dedicate their time and energy from going into one position to another. In the report released by BLS states that the average employee tenure was four years for women and 4.3 years for men.
With frequent job changes, it is more crucial for workers to be well-versed on networking and job searching. You need to be up-to-date with the latest trend in the industry and practice at communicating and connecting with your potential employers. Updating your employment status is now a continuous process, unlike before that you do it only once or twice throughout your career.
Why do people quit their jobs?
Money is the primary reason why people quit their jobs. Others would say for career growth. Based on the poll conducted by Monster, around 44% of respondents mentioned, to earn more money as their primary reason why they are looking for a new job.
The compensation of a worker who quits his job for another is approximately 15% higher. This report is according to Brian Kropp vice president of the HR at Gartner.
Salary.com CEO Kent Plunkett said that employees leave their present jobs for high-paying positions. The best way to stop your employees from leaving is to ensure the pay in your company is both internally equitable and externally competitive.
Not all the cases involve compensation. Promotion opportunities and career change are the top reasons why people leave their jobs according to the Mercer study. This move is widespread among Generation X and the Millennials. Generation Z, on the other hand, cited studying again and the base salary as their reasons for leaving their jobs. Other causes include benefits, relationship issues with managers or supervisors, and they do not fit with the job or organization.
Based on the 2013 Harris poll, only 14% of US workers think that they have the best job, and more than 50% want a career change. The poll results show that age is a vital factor in the desire for a career change. Approximately 80% under the age of 20 indicated that they are leaving their job for a career change. While those in their 30’s, it is only 65% and those in their 40’s it has dropped even further to 55%.
In a poll conducted by Monster.com in 2009, the result shows that 49% of respondents were leaving their jobs to a career change. Around 89% are open to change to a different sector.
It is also stated on the 2013 Harris Poll that around 57% indicate that lack of financial security is a significant barrier. About 40% are not sure what career they would want to change to, and 37% of them do not have the right qualifications to make a change.
Duration of jobs
On the Employee Tenure Report of BLS states that younger workers tend to stay short on their jobs. While those ages from 25 to 34 have an average tenure of 2.8 years. Workers aged 35 to 44 have an average job duration of 4.9 years, and people ages 45 to 54 have 7.6 years of job tenure. The average tenure for workers aged 55 to 64 is around 10.1 years.
The industry with the highest median tenure is legal, education, and management. Those who are working in service tend to have the lowest median tenure.