Job hoppers face reality check as market slows

Job hopping has become somewhat of the norm in today’s market. Even now, as job security is uncertain and firms are being forced to consider redundancies this year.

Naturally, young workers with shorter CVs are most likely to hop onto this trend, as research from LiveCareer reveals that Gen Z employees are less tied to the idea of a “job for life”.

However, with rising overhead costs and the UK’s slowing job market, many businesses have put hiring on hold, meaning that younger workers may need to press pause on changing jobs, as new opportunities become harder to find.

The younger generation is quicker to jump ship

More and more people are ditching the idea of sticking with one job for years, and it’s the younger generation that is leading the charge.

The report by LiveCareer, based on an analysis of over 369,000 CVs, has revealed that most UK workers now change jobs every 2.6 years. 

It also found that younger workers aged 16-24 are the most likely group to move between roles. LiveCareer’s analysis suggests that many see it as a strategic way to adapt in the changing workforce. Research by Hays also found that just 15% of employees in this age group expect to remain in one job for more than five years, compared to 43% of over 50s.

Gen Zers may not be hopping directly into a job, however. One reason younger workers are switching careers is the desire for extended breaks, sometimes referred to as a “quarter-life gap year.” In fact, 28% of workers aged 18-24 have already taken time off work. 

Salary dissatisfaction also plays a major role, as 89% of UK employees reported being unhappy with their current pay. Finding a new job can often be a shortcut to a quick pay rise for those in the early stages of their career.

Employers are hesitant to hire job hoppers

Job hopping – which once had a bad rap for lack of commitment – is much more accepted in today’s job market. According to LiveCareer, it’s particularly rife in sectors like tech and marketing, which encourage professionals to gain different experiences to stay competitive.

That being said, employers still show concerns about frequent career changes. 42% of hiring managers are less likely to hire job hoppers, according to the Hays report.

Even if it’s becoming the norm, job hopping leaves employers with increased recruitment costs, as they have to spend more time and resources hiring and training new staff.

Additionally, high turnover can impact productivity, as it takes time for new employees to get up to speed and become fully effective in their roles.

Hiring pauses could force younger workers to stay put

Following the increase in employer National Insurance Contributions (NICs), plus the hiked minimum wage introduced in April, many UK businesses have put hiring on hold. 

This has led to a slowdown in the UK’s job market, with job listings declining by 23% compared to the previous year. 

The tightened job market could put a stop to younger employees’ job hopping ways. Many may now rethink their career changes and consider staying put for longer, as new job opportunities are now harder to come by.

Moreover, with more businesses expecting to carry out workplace redundancies – which has increased from 22% to 27%  – even those who manage to secure a new role risk being laid off not long after starting.