10 things to consider before changing your job
Not a long time ago, a person would join an organization at the beginning of his/her career and would retire after exhausting his work period.
The reasons why most of us want to change jobs vary with each other.
- Higher
pay.
- More
responsibilities
- Better
work environment
- Growth/Promotion
- Transportation
from home to work.
Many
people make mistakes while choosing their career and end up with the shorter
end of the stick, but you don't have to worry.
Here
are ten things to consider before switching jobs.
1. Salary:
More
than 90% of people change their jobs because of low salary packages. However, a
person should be careful before comparing the wages between the existing one
and the one offered by the new company. One should also consider the added benefits
provided along with the salary.
Factors to consider before comparing salaries
- PF of the company: Some companies reduce this amount to display a higher take-home figure. It might not be useful as soon as you join an organization but, this gets added to your account regularly and can be helpful in the future.
- Five working days to Six working days:
Six working days equal to 52 more days compared to someone working for five days a week. It almost accounts for 2.5 months worth of extra working days. So, if a company offers a 30% salary hike for someone working for six days a week, they are giving them a 10% hike for the 20% extra work they do through the year.
- Holidays: One
needs an occasional rest to be productive in the workplace. Many multinational companies offer 12-14 Holidays in a year without considering the 20-22 paid leaves and ten days of sick leave. Some companies even count extended leaves over Saturdays and Sundays. Other organizations are restrictive towards offering Holidays and would probably provide a lesser number of days compared to multinational organizations.
- Benefits: Benefits
like maternity leaves, loans for the purchase of car or house, subsidies,
annual gifts or other infrastructure amenities like gymnasium, free
parking etc. can be for choosing jobs.
- Salary Structure: Lower
tax outflow equates to higher take-home pay, and candidates should opt for
the Net-salary when they are comparing the salaries of two companies.
- Variable Pay: Many
companies include 100% of eligible variable but, in reality, very few
candidates are rewarded with this, while for others, it reduces the
monthly wages.
2. Location of the new workplace:
A person needs to be clear about the travel time he/she needs to reach the
office. At times, Candidates acquire a false sense of time during non-peak
times during their interviews. Also, Be mindful of the travel time during the
monsoon seasons, as it increases by 50% in most of the cities in India. It
might not seem like a huge problem at first, but as time goes on, long travel
time becomes one of the primary reasons for stress in employees.
Thus,
be mindful of the following factors.
- Different City: At times, a person ends up with better job offers in a remote location. It might be difficult for the candidate to separate from his household and move out to a new town.
- Evaluate the overall extra cost.
If the person can't afford relocation, he/she might have to support two separate households. It might eat away an additional salary he/she might get.
3. Future growth:
All
the candidates must understand the growth opportunities in the new job and
relate it to their personal needs before accepting the new job offer.
4. The working style of Managers:
Managers
can change the way you perceive your job.
Hence, it is imperative to understand the working styles and values of your Manager. Always, try to choose a company with similar values to yours. You can ask the HR managers specific work-related questions about their careers. You can also ask the interviewer permission to speak to other team members before accepting the job.
5.
The market value of the gained experience
The organization is not always transparent about the benefits offered by them. The
invisible service of working is the experience you gain there. Many candidates
have switched to jobs that provide double the salary offered by their former
company, but the work would be monotonous. While the hike in pay is good, the overall
experience of the person would be lesser than his other former co-workers which
wight hinder his overall career progress. Also, it becomes problematic to
switch to a different job again.
For
example: In the Gulf or African countries, the salary increase and the perks
offered to look very attractive. But on closer scrutiny in most of the roles,
especially in Sales/marketing areas, the market value of that experience is
none.
6. Financial stability:
An
organization can provide the salary for their employees if it's not financially
sound.
Start-ups
and e-commerce companies have limited funding that it is a matter of time that
a number of them will close-up-shop if the economy derails.
Hence,
it's imperative to check the financial stability of the new organization which
switching jobs.
7. Shift
It is paramount for employees to understand the impacts of shifts and equip themselves for it—for example, If a person working nightshifts doesn't have a peaceful environment to get some rest, it would severely impact his productivity. So, be careful of the jobs that require switching shifts.
8. Notice Period:
Notice
periods are only relevant when you try to switch between jobs. Usually,
companies have notice periods for up to three weeks. An organization refrains from
hiring candidates for whom they have to wait for more than three weeks. Some
companies even have notice periods lasting up to 6 months. So, know your Notice
period before applying for the new job.
9. Work culture
Work cultures build character. If you've worked in an organization for a long time, you might find it challenging to get acquainted with the work cultures of other organizations. So, contact people working at the new company, and learn the ways things are done there before opting for the new job
10. Extra-curricular activities:
Suppose
you're someone who likes to take part in extracurricular activities like
sports, try to look for activities offered by the company. Studies show that
companies that provide more non-work-related activities employees to have more
fun at work.
Summary:
Choosing
career is a massive step. Any mistakes here will have a severe impact on your
life and career. So, it is critical to think this through before changing jobs
and consider the above mentioned-steps to improve your chances of making the
right decision.
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