Decades ago, it was normal for people to stay with one employer for the duration of their professional life. They rarely quit to pursue new opportunities or to change careers. But today, things are different. It's more common for people to work for multiple employers throughout their careers. That doesn't mean that switching companies is right for you, though. Find out more about the pros and cons of sticking around with one employer.
If you stay with one employer for years and years, you can gain several advantages. These include:
Industry experience is great, but company experience comes with added benefits. If you work with one company for an extended time, you become one of the senior employees. Your boss sees you as one of the most dependable workers and may turn to you for advice and opportunities.
Likewise, your co-workers probably treat you with respect. As one of the senior members of the team, you act as an authority figure. This can make working more enjoyable and more rewarding.
You're much more likely to advance with a company if you remain with them for a lengthy period of time. Although employers don't always promote from within, they're more likely to do so if you have a long career with them. Your consistency and hard work pay off and could result in a promotion.
Even if there are no obvious opportunities for advancement, your employer may opt to create one for you. Your loyalty proves your worth, and your boss may create a position to give you an incentive to stick around.
The longer you work for someone, the more stability you have. Even if you work in a saturated market, your boss doesn't want to go through the trouble of hiring and training a new employee. Therefore, they want to keep you around.
This stability gives you job security, as well as a few other benefits. You can count on a steady wage, hours, and benefits. With a new company, you don't have nearly as much reassurance that things will remain the same.
If you work for a company that offers bonuses, you can greatly benefit. They may offer increased vacation time after a tenure, 401k, or other cumulative benefits. When you're new at a company, you don't receive nearly as many benefits.
Your longevity could also impact your annual bonus. As a new employee, you might not even be eligible for a bonus. But, after ten years with a company, you could be first in line.
It's not all sunshine and roses. If you stay with one company for years, you miss out on a few things. These include:
Your way (or your employer's way) isn't always the best way. If you work with the same employer, you only learn one way of accomplishing tasks. But when you work for other employers, you can learn multiple systems.
Your exposure could give you more insight and help you streamline tasks. When you go to a new employer, you can pitch a better way of doing things. In the end, your knowledge could make you a strong asset.
Despite having the same job title with two employers, your experiences could be drastically different. This limits you and your skillset. By working for two or more companies, you gain experience and skills.
In addition to making you more valuable as an employee, your extra experiences can make you more fulfilled. You might find that you enjoy your career much more when an employer allows you to participate in a certain task.
Working for one company doesn't always guarantee a successful career. At times, employers take advantage of their employees and don't promote within. Despite being with a company for five years, you could still have the same job title and pay. Nevertheless, you may hesitate to leave because you put so much time into the career.
If you work for multiple employers, you don't have that fear or hesitation. You can advance your career before it becomes stagnant. As a result, you can be happier and make more money. You should be willing to leave an employer if they don't offer you an opportunity to advance your career and fulfill yourself.
Does your employer have salary caps? If so, you may be destined for a career of low pay. One of the ways you can increase your salary is to go on the job hunt. When you see an opportunity to earn more money, you can switch employers.
The market can be competitive, and you may be able to use this to your advantage. Instead of living with a salary cap, you can work for someone who sees your value and is willing to pay you more.
It can be difficult for people to decide whether or not they should stay with their employer. The decision comes with consequences, both good and bad. Therefore, you should evaluate your options and choose what's best for you and your career.
Start off by looking at your current situation. Does your boss appreciate you, and do they show it in your salary and your duties? You should also ask yourself if you're content. When you wake up in the morning, do you dread going to the workplace? You'll never find a job that keeps you happy at every moment, but you can find a job that satisfies you the majority of the time.
Don't allow fear to keep you from taking advantage of a good opportunity. If you think it's time to leave an employer, start looking around for new jobs. You don't need to quit until you find a better opportunity. By testing the waters, you can learn more about your options.
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