It?s the lure of an attractive compensation coupled with a decent joining bonus and a career progression in terms of role and designation that you have been vying for long. The pull factor is large enough to take a hurried call on job change. But be mindful that, in the long run, hurried calls do not always translate into the right decision. Before taking any such decision, it is always sensible to do some soul searching before you take the final plunge. So what exactly are the things you should focus upon while making that crucial decision?
Money, no doubt, is a prime factor while taking such a decision but ask yourself whether it is the only parameter you have deliberated while making comparisons? It is quite possible that you have had a lot of opportunities to go one up on your compensation but your performance didn?t quite match up to that level and so that thing didn?t happen to you, whereas, in contrast, your peers have gained considerably on the money front. If you are looking for a job change just because your ex-colleagues earn more than you, it is not a sensible decision by any count. Focus on excelling your performance at the current job, money will follow, sooner or later.
Then comes career progression. A time comes when you would assume that the opportunity that has knocked the door is actually a career progression and would be a combination of a set of responsibilities that you have aspired for. But do you really possess those capabilities? To say it in another way, have you been trained to shoulder a larger gamut of responsibilities? If the answer is not affirmative, and if your current organisation has a well-developed training mechanism that facilitates a well-laid-out career growth path, it may not be a right choice to make a change. The best thing to do is to make the most of the current training environment and, after some time, when you really feel that you are ready for a change, go for it.
The current economic scenario is quite volatile, and we may be gearing up for another recessionary phase after the low we had seen in 2008. In such times, if you make a change and the fortune of your new company takes a beating, you might run the risk of elimination if the new company applies the rule of LIFO (last in, first out). In contrast, if with your current employer you enjoy a good working relationship, they will retain you even in difficult times.
In today?s times when we are seeing emergence of new sectors every now and then, and considering the fact that it always pays to have a first-mover advantage, is it a good choice to enter a new, promising sector? Here again, have you researched the new sector well enough? Mention must be made here of the late 1990s? dot.com boom and its eventual burst. Similarly, retail was supposed to be next big thing happening after telecom but that is not showing any promising signs either. In such circumstances, you have to evaluate and envision whether the emerging sector can hold its ground for a sufficient period of time. Also evaluate the environmental, statutory or, for that matter, government regulations that will affect the new, emerging sector. If you have doubts, think again. But if the answer is affirmative, go for it. Remember, the first-mover advantage always pays.
Lastly, and this applies to a select few, is the case of entrepreneurial obsession. Why work for someone else when you can be your own boss? This question rings a sweet bell in the ears and that too constantly. In such circumstances, do a reality check, and if you are convinced you have all that it takes to become a successful entrepreneur and you have made sure that you have enough finances available at your disposal to make the killing, go for it. Else, stay with your organisation, and, who knows, if your entrepreneurial capabilities are for real, your organisation might notice your passion and even give you an opportunity to become an ?intrapreneur?.
The author is CEO, Symbiosis Management Consultants, an executive search firm