It’s rare that I have to contradict something that I wrote a couple of years ago, but there is definitely a new trend I feel obligated to share. I used to say that being a “job jumper” was extremely detrimental to your future. And I still stand by that as for what has happened in the past. Going forward, however, we are seeing more forward-thinking firms that are discounting a quick move that was made within the last three to five years. Especially during the COVID years, which we are still experiencing.
The Trend & How More Forward-Thinking Firms Are Paving The Way
The trend that I’m referring to is showing itself with more people making a quicker move than they have in the past. For instance, within a two-year guarantee, I have seen people move. I’ve seen people move right after their guarantee is up. I have seen people only stay less than three to four months when they realize they made a mistake and go to a different firm. All these situations a couple of years ago would be considered major negatives as a new firm looks at bringing somebody on, but that does not seem to be the case today. Is this caused because of the candidate-driven market? Or is this just a sign that more forward-thinking firms are getting used to millennials not staying long, taking that knowledge, and applying it to more senior individuals?
Society Values Happiness…How About More Forward-Thinking Firms & The Rest Of Our Industry?
This is a trend that I believe is here to stay, starting with more forward-thinking firms. The reason I say that is society wants people to be happy. Nowhere else in our history has individual happiness had such a play in their work environment. If someone is not happy, they are going to make a move whether they have been at the firm for one week or 10 years. Happiness is going to override everything right now. Since we all got used to working out of our homes in a not-so-perfect environment yet surrounded by everybody who we love and make us happy; this is now carrying into the workplace more than ever. If you’re unhappy and you haven’t been at a firm long, I would usually say stay for at least two years or more. Now that advice will fall on deaf ears, so I don’t give it.
What About Covenants?
Recently I’ve even seen more forward-thinking firms letting individuals out of very onerous covenants in order to let them leave their current situation. Firms that have onerous covenants not to compete are finding out they may not be enforceable, and it is actually better to negotiate them away as it may relate to a severance package in the case of a reduction in force. An individual who got hired is not happy, they go to their manager expressing that feeling and ask to be released from their covenant. This is now becoming more prevalent than ever before. I believe this is due to firms not wanting to be characterized as not helping an employee that may not have worked out due to outside influences. In conclusion, if you are not happy, do not be as concerned about leaving a current position and being labeled a job jumper. There is a place for you at a new firm where you will be happy. That’s what everybody wants in 2022.
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About Harlan Friedman, JD & Founding Member, H. Friedman Search LLC. Harlan is a thirty-year veteran Public Finance Banker turned recruiter who specializes in the placement of all levels Public Finance Bankers, Healthcare Bankers, Municipal Advisors, Compliance Officers, Issuers, and Bond Counsels.