83% of Gen Z say they're job hoppers. Here's how to handle old workplace retirement funds

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Office communication is becoming far more casual, and Gen Z is leading the shift, new research has found.

Aleksandargeorgiev | E+ | Getty Images

Generation Z is embracing frequent job changes, or job hopping, as a career approach.

In fact, 83% of surveyed Gen Z workers consider themselves job hoppers, according to ResumeLab, which polled more than 1,100 workers born between the mid-1990s and early 2010s. They view job hopping as a strategy to acquire new skills, face new challenges and seek environments that align with their values, the resume- and cover letter-building website found.

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However, it’s important for these workers not to lose sight of their long-term savings programs, such as 401(k) plans, linked to previous employers.

“When you’re job hopping, it’s really easy to forget older accounts. This big-ticket purchase may be a ‘grenade,’ warns an advisor

. However, it is important for these workers to not lose sight of their long-term savings programs such as 401(k) plans linked to previous employers. The firm is ranked at No.

Job hopping: pros and cons

Workers who frequently change jobs tend to increase their salaries faster than employees who stay in companies for longer, according to CFP Sophia Bera Daigle, founder of virtual firm Gen Y Planning in Austin, Texas. Job hopping pros and cons:

According to CFP Sophia Bera Daigle of Gen Y Planning, a virtual firm in Austin, Texas, employees who change jobs frequently tend to earn more than those who remain in the same company for a longer period. Bera Daigle is a CNBC Advisor Council member and says that starting a new position is the ideal time to negotiate for a higher salary. She also suggests that bonuses and other perks can be negotiated. Wages for “job switchers” were 5.6%, as wages for “job stayers” slid 5.2%, according to Atlanta Fed data.

However, job hopping won’t necessarily make work difficulties disappear. If there is a value disconnect at your current employer or if you want a raise, talk to your manager to try and address these concerns before you hunt for a new role, said Daigle, a member of the CNBC FA Council.

“Don’t complain to people who can’t help you. She added that it is important to bring concerns to your manager. Cashing out retirement savings is not always the best option, according to Williams. “That is the most detrimental thing job hoppers could do,” he said.

Here are three considerations for job hoppers looking to manage retirement accounts:

Your new employer may not accept rollovers from other 401(k) plans. Some companies will not allow you to roll over your old 401(k). Consider a Roth IRA if you are looking to convert your old 401(k). While you will owe taxes now to convert pretax funds to a Roth IRA, now may be a “great time” for young workers, who are likely in a lower tax bracket than they will be at retirement, said Daigle.

401(K) matches from your new employer may not belong to you. Daigle said that companies use different “vesting” or timelines to determine the time it takes to get your employer’s contributions. It can take up to six years in some cases. Daigle said, “Call your 401 (k) provider to find out how vested in the 401 (k) match you are and how much money you would get” if your job was terminated.