Is job hopping still benefiting workers?

Laffer Tengler Investments CEO and CIO Nancy Tengler and her expert panel weigh in on whether rapid job hopping is still beneficial for workers. Today's Market Hang panel consists of TMX Wall Street Horizon head of corporate event research Christine Short, Grenadilla Advisory founder and CEO Anna Rathbun, Mahoney Asset Management CEO Ken Mahoney, and Siebert Financial CIO Mark Malek. Video Transcript 00:00 Speaker A how, um, people are starting to to sort of reconsider the notion of career hopping. 00:05 Speaker A Can't tell you how many resumes I see that have, you know, five jobs with one year, um, maybe a year and a half. Um, and so as a as an employer, I don't I don't find that super appealing, but what was your, what were your, what would your advice be uh, to to people that are maybe a little bit younger than all of us. 00:26 Speaker A Uh, is career hopping good? Do you get more experience or do you uh if you stay in place, do you absorb the culture, uh and become a much more valuable employee? What what do you? 00:39 Speaker B Have the same sentiment as you when I see, you know, usually slightly younger people, some multiple jobs for one to two years, I it does give you a feeling of this someone's not going to stick around, right? 00:53 Speaker B But all the research over the years has told us the people that make the most money are changing up jobs every two to three years. That this is in 2020, no one's quitting and finding other jobs. More people are hanging on right now because of the economy and because we see what's happening with hiring. We see what happened at Microsoft. there you know, voluntary buyouts which mean and they're, you know, not every 01:09 Speaker B 25% of the workforce. Absolutely. And it's like people are not everyone is going to be doing that, but 01:13 Speaker B we're seeing hiring slow likely among some of these and so, yeah, I think you're going to see people hanging out at companies because companies also are it's still low hire, low fire, right? And so if you feel secure, you're probably going to stick around for a little longer. 01:29 Speaker B But yeah, for the longest time it was like you're not you're losing an opportunity if you're not moving around and it seems like that's sort of shifting a little. 01:36 Speaker C Well, see, all the shuffling around, we advocate uh to this younger group, let's say, stick in one place for a while including our sons. Um, because look, if you come to a fork in a road, you work for a private company or a public company and you track your career for 30 years, 80 90% of the time, 01:54 Speaker C working for a public company, you got a lot more worth, right? You're going to have stock options perhaps, a stock purchase plan. You a lot of our clients, you know, tend to be 60s and 70s and their children out in their 30s and 40s. and they say, what advice would you give for looking? I'd say, if they have a choice between a public company and a private company, choose the public company. 02:12 Speaker C And again, if you choose a public company and you're there for a few months, you're not going to reap the rewards of a stock purchase plan or or any of the other type of plans that are out there. So I think that's rather foolish, especially if if you think longer term, you could really build a lot of wealth with the companies that are public. 02:29 Speaker D Yeah, if you remember liberation day, we had this whole tariff thing that really scared everybody. Am I still going to have my job? Is my employer going to, you know, go bankrupt or not have uh be going concern. Um these are some of the worries as well as on the employer side, can I keep my employees? Everybody sort of froze, right? And the next thing is really AI. Am I if I jump my job and then suddenly they decide to implement AI, am I going to be out of a job? I think there's a lot of fear that's making people stay put. View Comments