July 27, 2005

Know the golden rules of job hopping!!!

SOURCE : www.economictimes.com
DATED : 27/07/05

Ritesh Kapoor had been working in the steel sector for close to five years now. He had stuck to the same company in Delhi over these last few months. Recently he was offered an opening with an oil retail giant. At the same time he was due for a promotion in his present employment.

He was in a dilemma regarding which offer to take up. Which of the two offers to take up? If he took up the 'oil' offer he would be posted to his hometown, be with his family and take up a challenging job. If he continued with his present company, he would be a senior, be comfortable in a 'known' environment, continue to maintain his present lifestyle and be close to friends he had made over the last few years.

Kapoor chose the first option as he felt that his family was the most important thing in his life and he would consider himself lucky if he could be back with them.

A B-school finance graduate, Amitabh Sen landed a job in a UN organization, as a research associate. "I always wanted to work in a bank," he says. So when ICICI offered him a job as officer, retail liability group, he submitted his resignation without a second thought, though many people would never let go of a job with the UN.

"I knew what I wanted to do all my life so I never had any insecurity about this switch. I knew I would be happier and content in with my new job profile" says Sen.

Choosing 'that' specific offer out of many is not an easy task. One should try to think and analyse strategically to reach to a final selection. 'Money' should not be the driving factor if it is a 'career' you want and not just a mere job switch.

Impulsive selection should be avoided as one cannot revert to earlier times. Playing games with your job profile is certainly not advisable.

Experts say that the most important factors which cross the mind of an average employee before making that crucial selection are brand name, job profile, location, compensation, other benefits, peer group and an opportunity to grow.
Factors to be kept in mind before making that 'final' selection:

Brand - The image of the organisation is a very important factor; it is always advisable to work with a growing organisation. If you care for a switch in the future try moving to a known 'brand' as it will add weight to your resume and put you in a favoured position.

Compensation - Money is the biggest motivating factor. One should be amply rewarded for his or her inputs, and assessment is done on the basis of peer group's status. One should also keep in mind the cost of living. For example, it is no use moving from say Meerut to Mumbai for just a Rs 5,000 hike. Factoring in living expenses, especially if one moves to another city, is a must before one decides to switch jobs.

Job profile - One should always choose a profile that is interesting and challenging. Try to get as much information on the job profile. Nobody wants to move to a new position and find boredom creeping in. This will have an adverse effect on your performance levels.

Office environment - This is a sum total of aspects such as office hours, dress code, work space, co-workers, employers, organisation's interests and beliefs. Be clear if you want to be part of the prospective organisation's work ethos. Otherwise you might stand out like a sore thumb.

Benefits - This includes the variable part of the compensation such as bonus, incentives, group insurance and pension plans, medical allowance, conveyance allowance, etc. At the outset one should have a clear idea of what the new company offers. Your new employers will consider you extremely unprofessional if you join and start haggling about benefits.

Growth prospects - This is one of the most important aspects when you are looking for a job switch. It is calculated both from the view of growing inside the present organisation as well as in terms of a probable job switch in future. Check where you will be five years hence. Does your new organisation have a clear earmarked promotion channel? Will you be likely to be given additional responsibilities? Will your work in your new organisation add value to your CV? These are some of the questions you should ask yourself before you sign on t he dotted line.

Says the HR manager of a leading BPO, "Although compensation is a driving factor, paramount is the brand name." He goes on to add, "Financial compensation is not the only reason for people to switch. They should aspire for something more. Managers in your new organisation should treat you well, and the office culture is what matters".

In today's age very few people look out for long-term stability in one organisation. For today's young people constant growth is what pushes them on. Many people opt for jobs which will help them in carving out a 'growing career path'. The present company should be strong enough to open arenas for offers from other big brands in future.

Vijay Kranti, GM, corporate communication, Essar says, "One should go for a company which offers professional growth prospects and offers challenges." He adds, "I would choose to work for lesser compensation with a good brand as it certainly is a huge motivating factor."

An employee after deciding to switch should inform the present company of the same, any sort of sourness should be avoided. Also, he should make the organisations from where he had other offers know that he would not be joining them. After all one never know ones next destination!!!!