Switching Jobs

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In this day and age, if you don’t like one job you are free to find another. But at what cost? And how often is too often when it comes to changing one’s place of employment? According to one major survey, more than half of young workers end up changing jobs within 10 years of their first job. Here’s more on how these choices affect their lives.

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A study has found that 53% of young workers change jobs in the first 10 years of their careers. Three out of ten such employees got new jobs within the first four years, indicating that job changes are most frequent during the early years of employment. The finding came from the Korea Employment Information Service's longitudinal study that tracked the job-changing experiences of some 7,900 respondents in their 20s and 30s for ten years. Those who found new employment were found to have changed jobs twice on average over the ten-year period. One worker changed jobs as many as 12 times during the same time frame. The turnover rate was higher among women than men and among those with little education. The survey also found that smaller companies with low employment stability were likely to see more of their employees leave for other workplaces. As for the effect of job changes on wage level, those who changed jobs received an average of 6.2% lower pay than those who never sought other employment. The Korea Employment Information Service was able to confirm once again that workers with low productivity tended to seek new employment more often and that the more they changed jobs, the less pay they got.