Advantages Of Job Hopping

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1.7 Limitations of the research The findings of the study are derived from 21 responses that the researcher received for online survey. As mentioned in Section 1.1.1, the overall number of banks in India accounts to 91 including foreign banks, nationalized and private banks. Since the author was in Ireland during the dissertation period, the online survey link was sent to different bank managers using their email addresses. Moreover, the research utilizes cross-sectional methodology and is hence conducted over a small sample of Indian bank branches in Southern India even though the survey includes few banks from Northern India as well. However, the survey statistics shows that among 100 total visits to the survey, there were only 69 unique…show more content…
Tulgan (2016), has predicted that organizations with more of young employees will face a “retention challenge”, where the young employee who is being invested by the employer for his or her development will achieve higher levels of ‘negotiating power’ in the labour market. This makes the young employee more valuable, and will be able to use his ‘negotiating power’ to serve another employer for higher rewards (Tulgan, 2016). There are many reasons associated with job hopping. Earlier, employees depended on work to attain financial stability and raise family without any hindrance. Career progression and the wages also play an important role in helping the employee to stay longer with the company. Forbes magazine (2016) reported that even though job hopping might not necessarily help to increase wages. In an average economic market, the basic increase in wages due to change of jobs given is 8 to 10% according to Salary and Employment report (Hays, 2015). However, currently due to poor economic conditions the increase is only 5 to 8%. Compared to the older generations, the young employees look for job satisfaction (The State University of New Jersey, 2012). According to Daming and Xiaoyun (2010), switching jobs for the new generation has become the way of “expressing themselves and pursuing their self reflection”. For younger employees, job hopping helps them to achieve career…show more content…
It is critical and costly according to Bonn and Forbriger, (1992). Employee turnover means time and cost wastage on hiring and induction process, training and loss of valuable knowledge attained by the person while on the job (Chovwen et al, 2014). Gustafson (2002) estimated that the cost of turnover, for a hourly employee ranged from 3,000 to 10,000 US dollars. According to Rigoni & Nelson (2016), the replacement costs associated with an employee accounts to 150% or more of their annual wages. This study also reported that in the US, millennial turnover costs around 30.5 billion US dollars every year. In 2012, Forbes reported that the average time that an employee stays with an employer was 4.4 years (Meister, 2012). This was estimated to be half the value for younger employees based on the data from Bureau of Labor

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