Have you had the same job for three, four or five years? How do you feel about it? Do you wake up in the morning and say to yourself, “Hey, I get to go to work today” or do you say, “Darn, I have to go to work today?”
If you answered in the affirmative then staying in your job for 10 years might not seem like such a bad idea. If you answered in the negative, you might not want to stay where you are for 10 years. However, either way, there are good reasons for staying put – if you can. Of course, the biggest problem for some people is staying in any job for 10 years. My personal best was eight years though I might have stayed a lot longer except my company closed the branch office where I worked.
If you stay with the same company, you will earn more seniority instead of having to compete for a better role in a new company.
A leadership role
As you accumulate seniority, you may be able to take on more of a leadership role – leading or mentoring others. People who develop loyal followings are more likely to be guarded by their teams.
If you change jobs constantly, you may have to move, which could cost you equity in your home, not to speak of your retirement savings. There’s no disputing the fact that every time you change homes, there are high costs associated with the move. Bankers look more favorably on people who’ve had the same job for at least two years. And your 401(k) is negatively affected when you change jobs. In fact, if you change jobs too often, you could literally lose track of those 401(k)s you left behind.
Companies often reward long-term employees with better benefits such as more vacation time. This means you could spend more time with your family and achieve more of your lifestyle goals. You could actually fulfill that dream of trekking for three weeks through the Amazon rainforest or fishing for 5-pound trout in New Zealand.
A say in your company’s future
As you stick around and build seniority, you may be able to have more of a say-so in your company’s future. You could exercise a positive influence on where the company is going and how it will get there. You’ll not only be making important contributions to the company’s future but could be shaping yours as well.
People who remain with the same company often are offered different and more challenging roles. The difference between changing jobs within a company vs. changing companies is that you get to enjoy different jobs without losing your seniority or benefits.
You’ll be seen as dependable
Employees who stay with the same company for 10 or more years are seen as being loyal and dependable. Companies often reward these employees with better benefits and raises.
Long-term employees are often given expanded educational opportunities. For example, the company might agree to pay for you to get an advanced degree or it could send you to seminars that could help sharpen your skills, which might lead to a promotion, a raise or stock options.
Reasons to not stay put
Of course, there are also reasons to not stay with the same company for 10 years. If you feel your company doesn’t value your contributions, if you’re being required to work 50 or more hours a week or if you don’t see any way you could ever earn a promotion, it just might be time to start looking around for a new job – where maybe you could stay for 10 years.