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Loyalty pays

By JAMES COAKES Published 26th May 2015
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There's been an idea in recent times that the best way to manage your career is to jump from ladder to ladder on the way up, changing jobs and changing employers to suit your own career path. Way back in the 1980s Dominic Cadbury stated his much quoted truism saying that the job for life was over and that a career track was now like crazy paving and that you 'lay it yourself'. It all sounded very plausible, but is it true?

Well, a survey from the Office for National Statistics found that full-time employees who stayed in the same role last year took home pay rises significantly above those who switched. The loyal staff were awarded, on average, 4.1% more pay whereas for those who moved on their net increase was a meagre 0.1%.

One explanation for this was that those who stayed were generally offered more overtime. So, they enjoyed more pay but put in more hours to get it.

The key is that if you are staying at the same level in your career then it is generally better to stay put. Cadbury's quote, and the thinking that goes with it, is still quite valid for people who are looking to be promoted into a more senior position.

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