Why is Gen Z so job-hopping? What does job hopping need?

     Recently, I have read a number of articles about Gen Z being the generation that "loves to change jobs", is "passionate about job-hopping" and refuses to stick with the company.

Personally, I'm also a person of the first generation of Gen Z and work in the IT field, so I understand very well why there are articles like that, because especially IT is an industry with a relatively high job-hopping rate. .

It's a reality and it's happening, but is it a bad thing to switch jobs or switch jobs? And should we stick with the company/business as long as possible?

In today's article, I will work with you to find the answer, and at the same time, I will share some experiences and factors when you want to jump jobs.

Before answering the question of why Gen Z often jumps, I must confirm, this is the conclusion drawn from statistics (more than 60% of Gen Z jumps in the first year of work)

Who are Gen Z?

In terms of age, Gen Z is those who were born from 1997 to 2006 (the age of 2006-2012, I did not list it, because it is not yet of working age), in other words, new friends. entered the labor market up to the present time.

So why are Gen Z statistics so job-hopping?

In my opinion, the main reason is the salary. Unlike previous generations, Gen Z was born in a period of high living standards and more expensive spending.

For example, many articles are still headlined: "Living in the city with a salary of 10 million / month or going home with a salary of 5-7 million / month)"

Actually, if you can choose, I believe that many of you will choose to live in the countryside, because if you live in the city, there will be too many expenses to pay (rent, travel, dining, entertainment, shopping, etc.) ), costly.

Stemming from such a high demand, it is clear that Gen Z in particular and workers in general, if they want to have a "good" life in the city, must increase their income.

And their main source of income comes from salary, so when the salary is not enough, they often tend to find a new job.

In addition, compared with the previous generation, Gen Z is new to the labor market, has not had much experience, so it is easy to fall into a state of unresponsiveness or feel unsuitable for the job.

The combination of two subjective factors, salary (income) is not as expected and lack of experience plus too many choices makes it easier for Gen Z to switch jobs.

Of course, if analyzed carefully, there are many other reasons such as family circumstances, or more commonly, comparing yourself with others. My friends of the same age work here and there, the salary of xxx that I work here is clearly lower, while I am not inferior to other people.

Combining all the factors, we will have an answer as to why Gen Z statistically has such a high job-hopping rate, especially in the first 1-2 years after graduating. do.

#2. What elements do job hopping need?

+) Your ability:

There is a mistake that many of you still think is that every job jump will increase the salary. This is only true when your capacity and experience also increase.

For example, when I work in IT, it really doesn't matter too much, especially in the first 5 years of my career. If we have the capacity and ability, the employer is willing to pay us a commensurate salary.

Therefore, before you want to find a new job, I recommend that you accumulate a lot of experience and constantly improve your knowledge and skills first.

+) Salary:

Salary increase can be said to be the main reason for job-hopping in most cases. The question is about how much increase from the current salary should jump?

This number of course depends on your current salary. For example, according to some statistics in the IT industry, about 30%-40% of the current salary is reasonable.

For example, you have a salary of about 15 million / month, if you find a company that offers you about 19.5 - 21 million / month, you can consider it.

Of course, this is just a reference number of the IT industry, and other industries may be higher or lower and depending on your ability to negotiate salary.

+Time

There are many companies that require employees to sign a contract and commit to work for a certain period of time. If you "break" the contract, you may have to compensate, so when you intend to change jobs, you must really consider how it will be both ways.

Normally in Vietnam, I see there will be 3 big recruitment waves. Recruitment after Tet (January, February) and mid-year recruitment (around April, May) and September and October recruitment to supplement personnel.

The reason is easy to understand.

Many Vietnamese companies have a year-end bonus (Tet bonus), so many people who want to take a break also try to work until the end of the year. Secondly, in the middle of the year, it is mostly because of finding another job opportunity with a much higher salary, so many people quit.

If you intend to quit your job, you should consider these 3 times, these are also the three times when employers "hunt" the most due to the general psychology of the labor market. Then if you apply, you will have a higher chance of getting accepted.

+) New environment:

Most people switch jobs to get a higher salary, but there are also many people who switch jobs to find a new, more suitable environment.

I take the IT industry as an example, the reason "suitable environment" is no less important than the reason "suitable salary".

Why so?

For many people, they accept to choose a company that pays not too much higher than the old company, but in return they can be creative and work in the most comfortable way.

When I decided to move to a new company last year, the salary was not much higher than when I worked at the old company.

But in return, I get to work in a role with more responsibility, more challenges and that helps me grow a lot. Those are really intangible values ​​that you should consider when looking for a new job or a new company.

In addition to the 4 factors above, there are many other factors to consider (such as the distance from home to the company, the company's benefits, etc.), but I think you should only change jobs when you can balance these 4 factors.

How you balance it depends on your priorities.

That is, if you jump jobs because of salary, put salary as the first criterion, then consider other factors if possible and convenient, you should jump.

#3. Epilogue

Those are the top reasons why Gen Z often jumps jobs. And what do you think about this issue?

Hope this article has provided you with useful information. See you guys in the next post!