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Quitters Win, Loyalists Exploited
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My friend Miller sent out an email to a bunch of his friends from work (where I used to work) with a revelation he had regarding how long it would take for someone who stayed at a job (a non-quitter) to catch up to someone who left that job (a quitter) for greener pastures. The average raise at my former employer was approximately 4%, which is a pittance compared to the generally accepted historical inflation rate of 3%, and a source of ire amongst many of the young professionals at the company. So, after a recent rash of departures (a count of approximately 50 folks we all personally knew and who joined within the last years), people started playing with numbers to see how long it would take for a non-quitter to reach the same point, salary-wise, as someone who quit. So, what did my friend Miller conclude?
Quitters win because they get salary increases with each move and loyalists are exploited far worse than they recognize, especially when inflation is considered.
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Now if I only had the courage to follow my own advice! =)
Honestly, if that was a surprise I have to wonder what universe you’ve been living in.
Switching employers is one of only two ways to really advance in the world (the other being quitting “employment” altogether and starting one’s own business). From 1995-2000 I was getting 10-15% raises every single year, but I only stayed at the company because I liked the people there so much.
I still miss some of the people, but there’s absolutely no question that leaving one’s employer is the best thing to do, financially and career-wise. Provided there’s another one waiting, of course.
I live in a idyllic world where employers pay employees their value. If I had a business, I’d pay people their worth because I wouldn’t want to lose them.