Considering a change? Then you need to read this
As it is 2019 and working professionals all over the globe are reflecting on the previous year and considering ways they can improve their lives in 2019 a lot of people are looking for new roles (55% hike on the first day back). Therefore, we thought it would be fitting to try and give you a short blog on some considerations before moving companies.
Whether you are entering the world of work for the first time or considering moving companies, starting a new job is a massive deal, how do you figure out which company is right for you?
We’ve all heard the horror story of our friends, family and colleagues excited to start their new job, but only to realise that once the honeymoon period is over they have made a terrible mistake and now they are trapped.
Prior to starting your new position, you need to have a hard think about why you want to work for this company. It is a serious decision to make, and is commonly viewed as one of the most stressful life events that a person goes through due to the fears and uncertainty involved. Don’t always take the first bus that comes along.
Carefully research the company using all the tools online available to you
You should research the company’s statistics and reviews as if you are looking to buy or merge with this company. This is a massive step in your life and career, make a mistake and it could haunt you. Staff turnover is probably the number one indicator to determine whether people are happy and satisfied in their current workplace. A high turnover can often relate to bad working conditions, compensation that isn’t good enough, poor work culture and an awful management team. The staff turnover should be compared to the industry average and the company’s competitors. If the company you are looking to move to has a high turnover rate, then just ask the appropriate person why that is the case, they may have a valid reason.
Look at how the company is performing. If the company is public, look at their financial documents. We are not suggesting doing an audit on the company, but look at their bottom line and top line, see whether they have progressively made money each year, and see whether they have saved money as well. Reviewing the bottom line allows you to assess whether the business is looking to save money and become more efficient, sometimes this is just as important as the top line.
Glassdoor is an unbelievable tool to to do your due diligence on the company. Glassdoor is a website where employees and former employees can review companies, their management and salaries. Read the reviews and take these into your consideration.
What will this company give you in the long run?
This is a subject that you really need to question the interviewer and future manager on. As you are reading this I am assuming you are a career driven individual. Therefore, you need to have a clear path of progression within the company and what you need to do to get there.
Review the compensation plan
When starting a job, money is often viewed as the most important factor, therefore understanding the compensation package is essential, quiz the interviewer on this and research online. A basic salary is important, but I would always suggest negotiating a bonus scheme within your package. Whether you are creating revenue for the company in sales, bringing in truck loads of customers in marketing department, developing pioneering systems or number crunching in the back office, your value can always be justified in statistics. Therefore you can always negotiate a bonus scheme to represent your value in the company and hopefully earning you a big bonus.
Will you fit in?
Company culture and how it suits your personality is just as important (if not more) as the financial package. If you do not enjoy the workplace environment, then you will be dissatisfied regardless of how much cash you are earning. Are you interested in a wolf-of-Wall Street environment or are you after a Google type workplace? You need to think about your personality and which work culture is most suitable to you. Take a look at this blog on what questions to ask in an interview for some tips on how to find out whether the company culture is right for you.
Consider the size of the company
Some people are more aligned to working within a large organisation conversely some people will prefer to work within small companies or start-ups where they get a wide range of experience in a lot of areas. Both have their benefits and negatives, but this is something to consider. I personally did not take this very seriously, I moved from a small company where I knew how I impacted the company into a large organisation where I was an extremely small fish in a massive ocean. Although I enjoyed the job and the company I worked for, I regretted not taking this consideration seriously.
The above is obviously not an extensive list of factors you need to consider, but hopefully it will point you in the right direction when you take the big step of moving jobs. A little bit of cheese to finish the blog…Confucius said “choose a job you love, and you will never work a day in your life”. There is some truth to this quote, choose a job and a company that suits you in every aspect, do not compromise on your future. You always have a choice, and your career and future is in your hands.