People change jobs every day. In fact, somebody probably just made a decision to change their job right now, while you were reading this sentence.
But why do people make that decision? What’s behind their decision?
Is it money? Benefits? Better health insurance? More compensation overall? Do people really chase more money in the quest for greater career satisfaction?
According to LinkedIn’s recent “Why & How People Change Jobs” reports, the answer to all of these questions would appear to be “No.”
LinkedIn released two reports, one globally and one for North America. Since we’re in North America, we’ll primarily concern ourselves with the results of that report. Of particular interest are the top reasons that people gave for accepting a company’s offer of employment and starting work for them. Those reasons are as follows:
- Stronger career path/more opportunity—63%
- Better compensation/benefits—60%
- Better fit for my skills and interests—50%
- More ability to make an impact—46%
- The work sounded more challenging—45%
- I believed in the company’s overall direction—45%
However, those are the top reasons why a person accepted an offer from another company. When it came to reasons why they decided to actually leave their current organization and seek another employment opportunity, compensation and benefits fell even further down the list.
When asked what contributed to their decision to leave, 48% of respondents in North America chose “I was concerned about the lack of opportunities for advancement” as their answer. Compensation slipped down to #3.
So—what can we deduce from the data contained in this report?
Without a doubt, greater opportunity is the #1 reason why people change their job.
However, it goes beyond that. A perceived lack of opportunity is what prompts a person to consider leaving their current job in the first place. Then, an attractive opportunity is the main reason that the person accepts an offer from another organization.
Clearly, people believe that greater opportunity leads to greater satisfaction in their career. Yes, money plays a role, but when it comes to spurring people to action, opportunity is king. Not only that, but things like challenging work, the company’s direction, and company culture are also major parts of the decision-making process.
When was the last time you conducted an “audit” of your career? Which opportunities exist at your current employer? What kind of opportunities do you want to pursue? How would you answer the questions posed in the LinkedIn report?
Figure out where you want to go and how you’re going to get there. Create a plan and then execute it. These are the steps that lead you to career growth and satisfaction.
We help support careers in one of two ways: 1. By helping to find the right opportunity when the time is right, and 2. By helping to recruit top talent for the critical needs of organizations. If this is something you would like to explore further, please send an email to email@example.com.