Aaj mere paas property hai, bank balance hai, bangla hai, gadi hai.. Kya hai tumhare paas….
Lacking any one of these (maa to humare paas already hai)? The answer to acquire the missing one is perhaps the change of job.
According to a survey by the Kelly Global Workforce Index (KGWI), 59 percent admitted that in order to hone their skills and grow their careers, changing employers is more important than remaining with their existing ones. In particular, more than two-thirds of engineering employees are said to have considered gaining experience with multiple employers to be a key asset.
Gone are the days of a job for life. In today’s world, individuals will change careers on average 7 times more in their lifetime, compared to only a couple of decades ago – and this rate is rising. There is more choice available to us – especially for those with talent, drive, and ambition. Youngistan today is eager to learn new skills and believes that by constantly being aware of opportunities and moving jobs they are more likely to fast-track their careers.
Today’s workforce is more aspirational and ambitious while wanting to explore opportunities in a whole new industry. While there can be numerous reasons to switch jobs (like a better offer, better work environment, seeking a change in the career, sinking employer, lack of appreciation, lack of learning and challenges, location, stability etc) we have broadly classified it into four:
When to switch Job
- A chance to move up and better pay: Sometimes the best way to move up is to move out. In the Experience.com study, 54% believe that career advancement opportunities are more important than salary. The number one reason they are changing employers is that they aren’t advancing fast enough. In addition, society today expects our fresh graduates to land good jobs as soon as they leave college. Brand name and salary are the key determinants of how good or otherwise a new job is. Engineers in India expect their starting salary to be between Rs. 6,00,000 to Rs. 9,00,000. But this is far away from in reality what an average engineer in India gets. While one might not get the desired package fresh out of the college from the campus itself, but opportunities are always there off-campus. While switching jobs, there is always a salary expectation. Although there is no Thumb rule, one must weigh all the factors quantitatively and qualitatively before the switch.
- Seeking Change in the Career: If you decide that you want to go back to school to pursue an entirely different career, then it makes sense to quit your job if you’re financially able to. This is especially important if your company doesn’t have open positions in your new field because you won’t have a future there if you make the change.
- Changes in priority and life: Priorities in life would change a few years down the lane than you started your career. You could get married, have children, buy a house or want to start your own company. Your current salary and position at work might not support your life changes and aspirations any longer. For instance, your wife might have to move to a different state or country for work, and if you’re unable to do remote work, then you will be searching for a new job.
- Lack of appreciation by colleagues and Boss: Appreciation- This is often confused with poor compensation. When one feels underpaid, it is usually a sign of under-appreciation. Someone can be making below market for the work they do but may receive other forms of appreciation that compensate for being underpaid. But if one feels unappreciated, more money is only a temporary fix. Under-appreciation leads to lack of motivation and poor performance. Toxic relation with the boss and colleague can undermine your performance severely. This usually results in poor reviews, even smaller or perhaps no raises, and even further damage to motivation. This spiral will only continue until you put the old resume together.
While the list can go longer like stability, connectivity, boredom etc, a few minutes on the couch and proper planning like you used to do in the starting days will show the light. The light that will peep through as a result of honest introspection and analysis, while may give a call to switch, it may also give a stronger call not to switch.
When not to switch [To be continued ….]