Should I Stay Or Should I Go – How Much Does Job Tenure Matter?

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Except for the “return-to-the-office vs. work-from-home” tug of war, the labor market seems to have snapped back to its normal ebbs and flows. And with that comes self-reflection on your career, including the determination of how long to stay in a job before you jump to another one. A recent poll conducted by Jobera revealed that almost 20% of workers faced with a mandate to return to the office would quit their current job to work from home because they have their own bathroom – I’m not sure that’s the best reasoning to pass on an opportunity, but I guess there’s a reason why bathroom renovations add so much to a home’s resale value. ;)

Sorry, back to business – how long you should stay in a job is based on contradictory realities: potential employers will always be wary of applicants who they perceive as job hoppers and those same employers will dump you in a heartbeat if it’s good for their bottom line. For example, on a macro basis companies are raising wages but simultaneously accelerating layoffs. To walk this tightrope, you must simultaneously look out for #1 (that’s you) and approach your job with long-term strategic thinking.

Ideally, you have a consistent work history that shows a high level of commitment to the jobs you’ve accepted. Five years was once considered the minimum but that is an outdated expectation. One to two years offers ample time for personal and professional development and avoiding the dreaded perception that you are a job hopper. That said, there may be excellent reasons to jump ship sooner rather than later, including:

• Are you an up-and-comer? There is no single path to the top and if another company is willing to let you move up that is an opportunity you may want to consider regardless of how long you’ve been in your current position. If you have the skills to climb the ladder and you feel stuck sometimes it’s better to find a new ladder at another company.  

• Is your employer a sinking ship? When forces beyond your control become apparent, such as an impending bankruptcy, a buyout, or a merger where there is an uncertain future, you can jump ship without the baggage of being branded a job hopper.

• Internal strife that creates a hostile work environment is bad for your mental health. If waking up and going to work fills you with free-floating anxiety and dread, then it may be time to find a new job.

• If your company is engaged in illegal behavior and wants you to engage in morally and ethically tenuous activities, run like hell.

Nobody is going to blame you for leaving a job after just a short time if the circumstances are extreme like the ones mentioned above. With that said, there are benefits to being at a company for the long haul:

• When you put your time in, you may be more likely to advance. What happens when a student transfers from one college to another? They lose credits and it takes longer to graduate. The same can apply to your career; if you bounce around too much, you may lose ground and it will take longer to achieve your goals.

• Increases in compensation, vesting, and promotions are often awarded to those with the most experience, which is linked to the time you spend at a single company. Loyalty has rewards. Do you want that private bathroom? Put your time in.

• If you’re in the first phase of your career, your professional development is accelerated by mentors. The full benefits of being mentored cannot be achieved in a short time. Learning a little here and there will never be as effective as immersion. Think about learning a new language. If you use an app like Duolingo, you may be able to turn a phrase or two, but if you live in another country for a year, you may reach fluency.

• Stability. Yes, stability seems unadventurous and boring until you experience instability. But having a stable job and income can be a great thing.

• Two factors epitomize a successful professional life – 1) doing meaningful work; and 2) developing in-depth relationships with your co-workers. Both take time. The longer you are in the trenches with other people the more these elements can be nurtured.

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Philip Roufail contributed to this article.

Scott Singer is the President and Founder of Insider Career Strategies Resume Writing & Career Coaching, a firm dedicated to guiding job seekers and companies through the job search and hiring process. Insider Career Strategies provides resume writing, LinkedIn profile development, career coaching services, and outplacement services. You can email Scott Singer at scott.singer@insidercs.com, or via the website, www.insidercs.com.

Should I Jump Jobs For More Money?

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A recent Bloomberg article on the labor market, “Job Switchers in U.S. Tech, Construction, Are Getting the Biggest Raises,” (07/24/19) showed that in the month of June people who switched jobs averaged wage growth of 5.3%, with the sector technology clocking in at 9.7% wage growth. Wow!

With low unemployment, the current labor market has tilted in favor of the employee. In short, the job market is hot. Companies are trying harder to attract workers, so now seems like the right time to jump jobs before the global economy slows down and the labor market contracts.

So, let’s say you’ve got a job offer on your desk, and it includes a hefty increase in salary over what your current company pays. How do you evaluate whether to consider new opportunities based on money?

• You need to ask yourself – “Is the grass actually greener?” Offering more money than what you’re making now is one of the easiest ways a company can attract attention. An employer will conduct cost/benefit analysis of what can be offered to prospective employees, and based on those budgets they It’s an effective lever, and that is why there is greater wage growth at bigger companies (who have deeper pockets) than at smaller ones – they have the resources to offer more. However, salary is only one component of a compensation package. Do your own cost-benefit analysis. It may or may not be worth it.

• Remember those numbers from the article – 5.3% (average) and 9.7% (tech) wage growth? If you have a salary of $65,000 your 5.3% increase would be to $68,500, or an increase of $3,500. A 9.7% increase would total $71,300, or an increase of $6,300! That’s not a terrible place to start. But there may be hidden pitfalls. A salary increase may put you in a higher tax range, or there may be employee benefits you have now, like a 401(K), that are not offered in the new job. Run the numbers.

• More money does not make a job better, nor does it automatically make your quality of your life better. As you look at other opportunities, really examine all the facets of the job. Simple factors like commuting distance, transportation, parking, and daycare can easily offset some of the financial gains.

• Assess the risk. Jumping from one job to another is a risk every time. If you switch jobs too often, it may have a boomerang effect as potential employers may (fairly or unfairly) question whether you’ll stick around or leave as soon as somebody offers you even more money. And try to remember – company loyalty to employees is as much a thing of the past as Julius Caesar; all too often, excited new hires can end up in the unemployment line months after their start date when a corporate buyout or layoff occurs.

• You've run the numbers, assessed the risks of the new company, and the jump still looks good. Now do the same for your current situation. Ask yourself, “Am I happy in this job?” What would you be leaving behind? Pension? Benefits? Growth opportunities? A promotion? Co-workers with whom you’ve become friends?  Run it through all the quadrants, so to speak, and come up with your “true value” of staying and your “true cost” of leaving.

• Corporate culture. This is the all-important wild card. If you have “found your people,” that is much bigger than dollars and cents. If you are happy where you are, and why you are there, your unique “fit” with a company may be worth way more than a few thousand dollars. Especially if your new employer has a reputation for being a “challenging” environment.

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Philip Roufail contributed to this article.

Scott Singer is the President and Founder of Insider Career Strategies Resume Writing & Career Coaching, a firm dedicated to guiding job seekers and companies through the job search and hiring process. Insider Career Strategies provides resume writing, LinkedIn profile development, career coaching services, and outplacement services, including a free resume review. You can email Scott Singer at scott.singer@insidercs.com, or via the website, www.insidercareerstrategies.com.

How to Quit Your Job With Class

You've just accepted an offer for a job with a different company, and you're ready to kiss your current employer goodbye. In fact, given the choice, you'd call in sick for the next two weeks and never return.

First things first - you need to tell your current employer you're leaving.

What can you do to make your transition as smooth as possible without burning any bridges?

THINGS YOU SHOULD DO:

• Give your notice in person to your manager. Assuming, of course, that this is possible - sometimes your manager works remotely, making this infeasible. But giving your notice face-to-face allows you to show the utmost respect.

• Be grateful. Thank your manager - profusely - for the opportunities they have given you. Even if you hate your job, show gratitude for what you gained.

• Tell your manager that the decision to leave was a difficult one. It takes a lot to leave a job behind, even a difficult job.

• Talk nicely about your employer and co-workers. Make clear that your employer runs a nice place to work, implying that you'd like to leave the door open in the future.

• Provide a written letter of resignation. HR will want this for the files, but even if they don't, it's a nice way to provide a written record of your gratitude for the opportunity.

• Give at least two weeks' notice. This will provide ample time to facilitate the transition of your function at work. It takes time for everybody to learn what you're working on and distribute what you've been handling.

• Be fair and balanced in your exit interview. The exit interview isn't an opportunity to unload every grievance you've been carrying around since the day you started; it's a chance for you to give objective feedback about what the company can truly do better. Choose what you say wisely - maintain a positive tone, and only bring up things that can be realistically changed. And pointing out all that stuff you don't like about your boss (and will never change) won't make you look good. I hate to say this, but filter what you say...

THINGS YOU SHOULD AVOID LIKE THE PLAGUE:

• Badmouthing your coworkers or boss. What will you gain, except some ill will from people you may run into again?

• Telling the company you'd entertain a counteroffer. Counteroffers are a difficult topic even when your employer brings it up. But when you solicit a counteroffer for the company to keep you, you look like a greedy jerk who went out and got another job offer so that you could hit up your current employer for more money. You'd look incredibly disloyal.

• Giving less than two weeks' notice. Unless there's a truly extenuating circumstance, give and honor two weeks. Otherwise you're leaving your employer high and dry.

• Taking all your vacation and sick days after giving your notice.  Why bother giving notice if you're not going to be around to help with the transition?

Scott Singer is the President and Founder of Insider Career Strategies Resume Writing & Career Coaching, a firm dedicated to guiding job seekers and companies through the job search and hiring process. He is a Human Resources professional and staffing expert with almost two decades of in-house corporate HR and staffing firm experience, and is a Certified Professional Resume Writer (CPRW) and Certified Professional Career Coach (CPCC).

Insider Career Strategies provides resume writing, LinkedIn profile development, and career coaching services, including a free resume review. You can email Scott Singer at scott.singer@insidercs.com, or via the website, www.insidercs.com.