[K-Women Talk] How to Avoid the Pitfalls of Job-Hopping

This year marks the 12th year my niece has worked in manufacturing, and she has changed jobs three times. Having worked at the same company for over 20 years, I find it surprising that she has switched jobs once every four years, but for today's generation, job-hopping seems to be the norm.

Her job changes reflect the concerns many young people have about their careers. Her first move was to a major corporation located in a provincial area, but when marriage and childcare issues arose, she switched to a mid-sized company in the Seoul metropolitan area. Having become accustomed to the work environment of a large corporation, she struggled with compensation issues and eventually moved again to a newly established subsidiary of a nearby major company. The problem is that after her third job change, she does not look happy. Unexpected conflicts with her supervisor have arisen, and because it is a new subsidiary, it seems the work intensity is beyond imagination.

There was a time when people talked about the "Great Resignation." Right after the COVID-19 pandemic, there was a job-hopping boom, especially in IT companies. At that time, changing jobs was an opportunity to increase one's value and advance one's career. Now, however, we are in the era of the "Great Stay," with companies reducing hiring, making upward job moves much harder and increasing the risk of making regretful choices like my niece.

According to actual statistics, as of 2023, the turnover rate at listed companies decreased by 19.5% compared to the previous year, with the turnover rate for employees with less than seven years of experience dropping significantly. The better the conditions at a major corporation, the more two- to three-year experienced employees apply as new hires, inevitably reducing demand for junior professionals. In an era where job-hopping is no longer advantageous, how can one make a satisfying choice?

First, if your only goal is a salary increase, people say it should be at least 20% to avoid regret. This is because you may experience high levels of stress to meet the high expectations for experienced hires. Without a satisfactory salary increase, you may constantly compare your new job to your previous one, and it is unlikely you will have an advantage over existing employees in terms of promotions or evaluations.

If you want to move to a "growing industry," there is advice not to be tied down by salary or location. After all, while you can change companies, changing industries is much more difficult. For example, if you move from the food or distribution industry to semiconductors, would it be easy to outcompete others already trying to move within the semiconductor value chain? In this case, a meticulous strategy is necessary, such as moving from the Seoul metropolitan area to a provincial region or taking a step down from a major company to a mid-sized company to facilitate the industry transition.

Finally, though it may sound obvious, you should thoroughly research the company and department you are considering. Checking whether the company is profitable and growing is fundamental. A company without growth is bound to squeeze its resources dry. In addition, the more you know about the corporate culture and department atmosphere, the less likely you are to regret your decision.

Lee Sookeun, Publisher of The Framework of Employment