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Company Loyalty Isn't What It Used To Be

 
Company Loyalty Isn't What It Used To Be
Posted June 25th, 2014 @ 3:54am by KTRH's Scott Crowder

A Forbes study says company loyalty is a mistake. Workers who switch jobs frequently earn a lot more money.

 

In the Forbes study, workers who switched jobs every couple of years made as much as 50% more than those who stayed loyal. Bill Hammond, president of the Texas Association of Business, says that's surprising.

 

"Typically your vesting of your 401K builds over time and you get, as an employee, you get more bang for the buck by stickin' around."

 

Hammond says the oil and gas industry in particular offers raises and bonuses that keep the best employees.

 

"I know the oil and gas industry works very, very hard to retain their employees through a system of bonuses and contributions to 401K."

 

But the Forbes study found raises -- which were once 5% to 8% each year are now 3%, if you get a raise at all.

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