As the time passes by, the human practices evolve. By every passing generation, the ideologies of people are changing, resulting in change in different aspects of human life. When it comes to the corporate life, this saying holds true. Some continue to work in the same organization throughout their career, while others work in different companies in their working career. Thus, we can imply that this human behaviour is related to the generation they belong to.
The Generation Y and some percentage of the millennials believed in loyalty towards one company. Hence, we would find our fathers employed in the same organization for 15-20 years and eventually retiring in the same company as well. The primary reasons of doing this was loyalty to the company, familiarity to the job, working environment, and promotion.
Whereas, when we talk about millennials and Gen Z, the trend has evolved. These generations believe in switching organizations within a span of 1-2 years. There are many factors supporting this behavior such as pay scale, job position/hierarchy, work environment, company location, job responsibilities, and so on. The primary reason for switching is to increase the CTC.
Personally, I believe in changing companies within a span of 2-3 years because of the benefits this method offers. Some of them are a higher CTC, increased learning experience, personal growth, and early promotion to a managerial position. In the past, I have changed companies for a higher pay and better amenities such as health insurance, work from home option and paid office visits.