Self-awareness and career management (1) Essay Example | Topics and Well Written Essays - 1500 words

Self-awareness and career management (1) - Essay Example The willingness of workers to move from one place to another in order to get hold on better work is generally called job mobility (Griffeth & Hom, 2004). The factors that trigger this notion by indulging employees are collectively known as job embeddedness (OECD, 2001). The concept of job embeddedness is hired to ensure the job stability by forecasting a banker’s potential to quit (Allen, 2006). The concept of job embeddedness was presented by Mitchell and his colleagues in 2001 in order to explicate why some employees want to leave their job whilst others do not. For them there are certain factors such as association with the community, cost of quitting the job, etc. that do not let them leave the job. Empirical studies show that embeddedness is all about encouraging higher performance ergo retaining employees by embedding their co-workers (Liao, 2010). Mitchell and his colleagues identified three factors: links, fit, and sacrifice. Links means the connection between people a nd activities whilst fits refer to how well the job and its communities fit with other aspects of peoples’ lives. And the last element is sacrifice which refers to whatever the person loses once he quits his job. (Shultz et al, 2007) One has to recognize the role of job satisfaction in the decision making process for a person. For them if a person is satisfied with the job, he will not think of quitting but the likelihood of quitting becomes higher in the case of dissatisfaction (Shultz, 2007). Job Mobility Many researchers imply the study of job mobility for the analysis of the labourers’ behaviours against different job offers (Rooney & Hepworth, 2009). No worker is said to be able to get a job best suited to his demands and capabilities in the first phase of his job career (EUROPA, 2008). This leads the workers to be always in search of such firms which value their skills more than their present employers (Liao, Martocchio & Joshi, 2010). Thus, there can be three ma in types of job mobility: employment mobility, job-to-job mobility, and occupational mobility; and some of the factors that affect it are: job tenure, rate of bonuses and chances of growth (Winget, 2007). The rate of job mobility varies from one country to another depending upon the respective economic conditions as well as the demands of the workers. The data published by Eurobarometer (2005) on the job mobility rate is displayed underneath. The researchers believe that the tendency of job mobility is greater in the lower-wage jobs than highly paid ones (Delfgaauw, 2006, p.78; OECD, 1999). Farber (1999) has studied the job-changes by employing the data from the Current Population Survey and found out that the job tenure is one of the key determinants to job changes. The greater the job tenure is the lesser will be the chances of job mobility. This study also reveals that the wages offered by the firms also vary with the job experience in the respective firm (Madrian, 1993). The sam e rule applies to the banking sector where big bankers move to the job with high salary or bonuses offerings. The fact is testified by a bulletin of the ‘Evening Standard’ 2004, (a UK newspaper), according to which a group of senior bankers had quit the ‘Fox-Pitt, Kelton’ (an investment bank of UK) in order to join the rival company of Citigroup. In addition to this, fourteen analysts and traders had quit the â€Å"