Navigating the labor market as a salaried knowledge worker -a systematic view

Edouard Ribes ()
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Edouard Ribes: CERNA i3 - Centre d'économie industrielle i3 - Mines Paris - PSL (École nationale supérieure des mines de Paris) - PSL - Université Paris Sciences et Lettres - I3 - Institut interdisciplinaire de l’innovation - CNRS - Centre National de la Recherche Scientifique

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Abstract: This article offers a series of views (backed by quantitative toy models) around the best course of actions individuals can follow when seeking career advancement. It shows that leveraging a firm internal labor market does not yield significant promotion opportunities (i.e. less than an average 2% chance on a year on year basis) unless the firm is growing fast. On the other hand, if high growth firms present significant chances (up to 50%) of getting a promotion up to a director or vice president level over a 3 to 5 years time span, their number is limited. The best course of action thus consists in continuously networking to access opportunities. This strategy is shown here to yield a 5 to 8% chance of landing a promotion on a year on year basis. This in turns open up questions for managers and human resources professionals around the best way to structure a firm in a robust fashion...

Keywords: Labor economics; Occupational choices; Job mobility; Turnover (search for similar items in EconPapers)
Date: 2024-01-03
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