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If you’re looking to move up the ranks at your company, you might just want to find a new one, according to a new study that found what you do isn’t as important as who you do it for.
- Where you work “has big consequences,” the Burning Glass Institute’s President told The WSJ. “But … workers don’t have the visibility to make an informed choice.”
Driving the news: Choosing the “right” employer as a young worker–even within the same industry–can translate into promotions, higher wages or more opportunities to advance than a degree, work experience, or skills acquired on the job, per The Wall Street Journal.
- The high number of inexperienced and new workers that take on entry-level roles in retail (Gap, Nordstrom, Macy’s) means the sector has sky-high advancement rates.
- At tech companies like AT&T, Apple and Cisco, entry-level employees might not earn as many promotions but gain specialized skills they can take to other companies.
- Despite the boom and bust of oil and gas, mining, and manufacturing, companies in these sectors offer high job stability, but it becomes difficult to transition out of them.
Why it matters: As the labour market weakens and employers continue to cite a “skill gap” in their workforce as a problem, tracking companies that are proven to guide employees up the corporate ladder will become critical information for both other employers and workers.