There will be a few times in your career when you will be presented with what you think is a great career opportunity with another company. Everything seems to be falling into place as it should. You have gone through the interview process, they have made you an offer and you are almost ready to accept it. STOP! Is this really the right move for you? Have you really researched and vetted out this opportunity to the point where you are VERY confident that this is indeed the right move for you?
Too many times, business professionals change jobs for what they think are good reasons, only to find out that they made mistakes by leaving their former companies for others that seemed “new, shiny and exciting.” Before making the switch to a new company, here are three important factors to consider.
1.DOES YOUR CAREER MOVE MAKE SENSE?
When considering leaving one company for another, you have to consider the “functional” career move by itself. Are you leaving your current role for one that makes sense to those from the outside looking in? Most importantly, does it make sense in the eyes of a recruiter or hiring manager? Any time you look to make a move to a new company, it is important to secure a role that shows career progression, an increased level of responsibility, and/or leadership, or a role that is something you have never done before that ultimately adds to your career marketability and skill set “tool box.” Recruiters and hiring managers alike want to see a positive career pattern, one that showcases each of your moves as a promotion of sorts. Taking roles of equal or less responsibility will only raise a “red flag” in the eyes of those considering your background for their open positions.
2. DON’T ALWAYS CHASE THE MONEY!
Compensation is always a signi cant factor to consider when changing any job or company, but it should not be the ultimate decision maker. The saying “Money can’t buy you happiness” is very true in this case. While you may be faced with a significant bump in salary or bonus, there are other factors to consider that are above and beyond just money. These can include things like business travel; have you gone from traveling 10 percent of the time for work to now 70 percent? Is this increase in business travel worth your time away from your family, even though you are making more money? If you are making a move to another geographical region, it is important to think about the cost of living. Although you end up making more money per paycheck, are you giving away the increase you have just made toward your ability to live in a different part of the country? Think about the role itself and the responsibility it entails. Do you feel the level of increased responsibility that is required to do your new job at a high level matches the level of compensation they are offering you? While it may be a good increase in salary, is it enough? Will this new level of responsibility require 12- to 14-hour workdays as opposed to eight, 10 or 12? If so, is the money worth it? Lastly, make sure to look at the entire compensation package holistically. Be sure to consider other areas that are above and beyond the paycheck like healthcare costs, 401(k), vacation time and other “fringe” benefits. While it is easy to be blinded by the dollar signs at times, it is extremely important to consider the whole package and whether or not it indeed provides you with the increase you are looking for.
3. HOW HEALTHY IS THE COMPANY ITSELF?
One key factor to consider when switching from one company to the next is overall nancial health. While your new job opportunity may look great on many di erent levels, is the company still going to be around in six months? Whether it is a small- to medium-sized company or a Fortune-500 company, you always have to consider the long-term viability of the company and/or business unit that you are considering. Size does not matter when factoring in the health of the company. Make sure to conduct your due diligence and homework on the new company or business unit. During your interview process, make sure to ask pointed questions about the future of the company, the product or service line and any future growth the company envisions. Take time to seek out current and past employees and ask questions about their experiences at the company and their opinions of the health and wellness of the organization. Spend some time on the internet researching the company, consumer insight websites or blogs, and, if the company is publicly held, its 10-K filing. A lot can be found about a company on the internet, both positive and negative, so make sure to check this box and do the required research before making that move. You don’t want to find yourself in a situation where you have been forced to look for a new job because your new company no longer exists.
There is always a fun and nervous excitement about making a move to a new company. You experience great aspirations for where the new opportunity can take you and your career — and the potential wealth it can provide. However, it is very important not to be blinded by what may look good on the surface. Be fair to your career and the new company assessment process to ensure that your next move is indeed the right one for you and your future growth.