Should I Stay Or Should I Go?
Making the decision to move jobs is a big one for a lot of us. In today's market, we are facing a bit of a perfect storm of circumstances which has led to an ultimate candidate-driven market where there are more jobs than relevant candidates.
It's not unusual in itself - but the current market is probably the most pronounced it has felt ever. Not surprisingly a market that is short on candidates is putting pressure on employers to act and act fast. With so many brands adding to their teams and trying to fill vacancies it's never been more key for employers to do what it takes to hold on to good staff. Or to think strategically about where they will get said good staff.
In my own experience, a happy employee who feels valued, engaged and supported is not turning their head for an extra $500 per month or $5000 per year. But if aspirations to get ahead, get that next level up the career ladder; move into a luxury brand or pivot into a head office role - then there has never been a better time to leverage the market strategically to work for you.
So while deciding to make a move can create an interim feeling of uncertainty - get excited because this is an epic time to make your dreams come true and ensure you reap the long term benefits (more money being one of them in most cases!)
You’ve prepped your CV, met with recruiters, interviewed, negotiated and now accepted your offer. One last hurdle of resigning to go! So what happens when your current boss makes you a better offer to stay?
No doubt you are feeling one million emotions! Confused, flattered, excited to name a few. Companies don’t want to lose good staff, and many times a well-intentioned manager will try and address your resignation with a financial incentive to stay.
Here is what you should consider before deciding:
Do
Anticipate a counter-offer and what you might do if you get one - Forewarned is forearmed, work through this scenario in your head and think about how you would feel. Would it change your decision to move on?
Check-in with your original reasons for looking elsewhere. What were your drivers? If it was money, perhaps that has been addressed now. But like I mentioned it is rarely just the salary - If it was more than the money think carefully before accepting - once you are being paid what you feel you are worth - how satisfied are you feeling in your day to day role?
Get your counter-offer in writing, and check the terms of the offer, what is the likely timeline for progression or opportunities for learning?
Talk it through with some trusted friends or advisors, an objective viewpoint is essential.
Be reasonable with communicating your timelines – asking for an extended period of time to make a decision creates a LOT of uncertainty for both your current and prospective employer, and having respect for all parties will only add to your credibility.
Do your research - job boards have salary bandings, there are market reports you can get your hot little hands on that are going to tell you where you are sitting in comparison.
Above all – trust your instincts!
Don’t
Feel pressured to accept – no Line Manager or Recruiter for that matter should be pressuring you to make a decision – remember this is your career and your decision.
Be flattered and blinded by the attention – research shows that majority of candidates that accept a counter-offer will move on within 6 months.
Forget what made you want to leave in the first place. Why did it take for you to resign?
Be wooed by false promises: many times we hear big promises of change, promotion or training in order to stay with our current company – view these objectively. How much capacity is there to follow through with these. A lot of the time the intention is actually there, but conflicting company priorities means additional training etc can be put on the backburner.
Create a bidding war! We get it – salary is a big part of any role – but it won’t be a determinant in happiness in your day to day role! Identify what does contribute to your happiness outside of salary and keep focused on which company offers these to you. Going between current and prospective employers asking for more money can quickly turn ugly!
Keeping perspective and some objectivity when making your decision is going to help you understand if it aligns with your current career goals. But remember this call is all about you and where you are going!
Happy job hunting!
Ange x
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