Time to move on to another job or stick around a while longer? It’s always a tricky question. Let’s have some facts first, and then look at the implications, with questions last.
- Unemployed people per job opening has fallen from a 6.2 high to 3.1 this year
- Two-thirds of workers have “tested” the market or have had offers in the past 12 months
- People have quit their jobs at a 39% higher rate than over the worst of the slump
- Salaries are down from when the economy was last accelerating
- Over 40% of full-time workers think they could find a great new job in the next six months
- 1 in 5 are concerned about being laid off in the next six months
- Job cuts were 8.2% higher in mid-year than the start of the year
- The government stalemate has not helped the economy nor the job creation
What does all of this say to you?
- It’s all still very confusing, without a dramatic trend either way
- Hiring companies are very picky, making sure new employees are completely qualified
- Hiring companies are delaying making a hiring decision until they must do so
- Hiring companies are expecting results in performance within a very short period of time
- With a large supply of candidates, a short time for you to perform, and a volatile market, hiring organizations can terminate new employees quickly with little severance
Questions to ask:
- Is there another job in your company to give you new skills or a leg up the career ladder?
- Opportunities usually surface in 2-year cycles within a company. Worth the wait?
- Have you researched the marketplace for open positions, pay, level and function?
- How good are your past performance reviews? What kind of merit or incentive increases?
- Do you want to change industries, sectors or functions? What’s the future in each?
- What’s the history of the industry leaders? What’s the risk / reward ratio if you move?
- Do you currently have a mentor? Are you being developed or groomed?
- Given your competencies, what are the growth opportunities or downside in your field?
- Given the issues, what are the short-term opportunities to perform at a high level?
- Are your skill sets a commodity within the marketplace or high demand specialized skills?
Use the information and answers to these questions to compare possible alternatives for your next move. Once you’ve made a decision, put together a solid strategy to advance. You can always change your mind before you resign from your current organization. But, it’s extremely difficult to un-ring a bell that’s just been rung.
Looking for job alternatives? Talk with Bill as a coach.
Got questions or comments? Send them to Bill at: Mygreenerfuture1@cox.net