It’s the law of supply versus demand: CNN reported that as of Q3 of last year, there were a reported 5.8 million job openings in the U.S. This means that qualified candidates could likely receive more than just one job offer – what a great problem to have! While compensation is clearly a large factor – there is plenty to think about beyond base salary when considering new opportunities.
Before we get into everything that should be considered, we need to discuss why you’re open to a new opportunity in the first place. There’s a reason why you’re reading this right now. Often referred to as the “job wound’ – what is it that you’re missing in your current role that has you considering a change? Is it money? Is it management’s direction of the company? Is it a lack of career growth?
Be honest with yourself as you identify your job wound. Write it (or them) down so you know exactly why you’re considering leaving. This will help identify the underlying issue and ensure that you make your next move the right move.
Now that you’ve pinpointed the reason(s) why you would consider a job change, it’s time to look at important factors–not just money– that can make a break your next career move.
Even though there are many things to consider, here are three that really stand-out.
Outside of money, company culture should be the next biggest consideration. Defining an organization’s culture involves more than your perceptions from your onsite interview(s). In order to get the best understanding, you need to speak with your potential new colleagues. Search on LinkedIn and reach out to others in the role you’re considering (NOTE: I would be sure to ask if this is OK during an initial interview, you don’t want to reach out to the person you may be replacing – especially if he/she doesn’t know they’re being replaced). Talk to them about why they joined the organization and ask them about their day-to-day responsibilities?
Engaging and Challenging Responsibilities.
You’ve heard the adage before: “Do something you love and you’ll never work a day in your life” – this is great advice, but there are far too few beer tasting positions and I’m too old to make the PGA Tour. Regardless of your “love” of sales or marketing or [insert position here] – your work DOES need to challenge and interest you. This is extremely difficult to quantify, but deep in your gut you know whether or not the position is going to make you want to get out of bed every morning.
In the digital age we’re in, a company’s reputation can be their biggest asset. The answers to the following questions can help you determine if this is the right place for you:
- Why do people do business with them? (Are they the cheapest? Are they the best? Or are customers willing to pay more because of the level of service provided?)
- What do the employees say? (Are they happy? Are they engaged? Do they believe in what they’re doing?)
- Is the Chief Executive reputable? (Where did she/he come from? What about the other executives within the organization?)
Determining a company’s reputation can be difficult because reputation is intangible. A good reputation is often earned over many years and a consistent product/service. A bad reputation can be made by one poor decision. Read as much as you can about your prospective new employers – press releases, articles, online reviews, glassdoor.com reviews. Remember that employees who have left on bad terms have a tendency to post negative company reviews online. So be careful and do your homework.
All three of these considerations when making a career move are extremely important and will require some time and research on your part to answer. But remember a little research upfront may save you regret later.
Reviews (google, yelp, etc.)
Current & Former employees