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Change roles frequently and expand skills, key to career advancement, according to McKinsey

Human capital accounts for two thirds of income throughout a person's life and half of that value is given by work experience.

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Change roles frequently and expand skills, key to career advancement, according to McKinsey

Human capital accounts for two thirds of income throughout a person's life and half of that value is given by work experience

MADRID, 6 Jun. (EUROPA PRESS) -

The key for workers to move up the career ladder is to change roles frequently and make moves that allow them to expand their skills more quickly through the experience they gain, according to a report by consulting firm McKinsey

The research, carried out using 'big data' analytics, analyzes the working lives of more than four million professional profiles in the United States, Germany, the United Kingdom and India to obtain a detailed vision of the labor trajectory of these people and of how the skill set acquired over time directly impacted their long-term income.

According to the report 'Human capital at work: The value of experience', prepared by the McKinsey Global Institute and the consulting firm's People and Organizational Performance practice, the average distance of skills required when changing from one function to another is 25% or more.

This implies that many people have latent abilities and the potential to learn additional skills, according to McKinsey, which maintains that the value of a professional will be enhanced thanks to these changes in their work environment that will allow them to obtain those new skills and knowledge necessary for their career. adaptation.

"Bold moves mean employers hire people with less-proven skills and workers look for opportunities that represent an effort to grow significantly," he explains.

Amaia Noguera, a partner at McKinsey, has pointed out that these movements "are usually profitable" for those who carry them out. "Taking into account that, according to the sample, an average person changes jobs every two or four years, the report reveals that, in the case of transfers in which there is an increase in remuneration, the salary improves between 30% and 45%", has detailed.

The conclusion is that "the movement is essential to increase income throughout life, and, above all, for people who start in less paid positions," he added.

80% of these job changes involve professionals looking for new employers so they can get the learning and growth opportunities they seek.

However, according to the consultant, this should not prevent companies from investing in their workers --for fear of losing them--, rather it is "a great opportunity for companies to adapt to change and mobility, helping their professionals to learn and grow at work.

McKinsey believes that companies "should aspire to become great learning organizations and, as a result, be able to become attractive to top talent and be recognized as employers of choice."

The study indicates that the professional path of people is increasingly conditioned by their experience, which influences their long-term income level.

According to the authors, human capital makes up about two-thirds of the average person's wealth, in terms of lifetime earnings, with on-the-job experience contributing half of that value.

This figure is even higher for people with less education, who start working in lower-paid jobs without a university degree and where experience becomes especially important, contributing between 60% and 80% of their income.

Noguera stressed that "income is not necessarily conditioned by people's level of education", since workers who start their professional careers with less qualifications "can recover ground by accumulating skills and professional experience".

"This is where companies have an important role to play. It is essential that they do not pigeonhole people just by their credentials, but rather focus on their ability to learn and develop in the workplace," he said.

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McKinsey