In today’s day and age, job change is becoming more and more common, yet the reasons as to why people seek new pastures differ according to the individual. Certain all-round benefits which include a more comfortable working environment, collaborative and team-spirited colleagues, more attractive salaries, better working hours and extended free time are all usual persuasions for one to change jobs. However, it was found that the number one reason people change jobs is for career advancement, coupled with self-fulfillment. Such reasons would make sense in today’s world, with countless business possibilities and employment opportunities on the increase, especially through the expanding sectors of Finance and Technology as well as the emerging trends in entrepreneurship.
It therefore goes without saying that the world we are living in offers many options through which individuals are able to change jobs, whether the reason is to progress in their career, work more flexible hours, earn higher salaries or simply experience a change of scene with regards to workplace and coworkers. Today, the average person changes job ten to fifteen times during their career, with motivations of career progression being higher than ever.
Reasons Why People Change Jobs
Career Development and Promotions
Hard-working individuals want their work and efforts to be taken seriously, into consideration and evaluation. Nowadays, many organisations have adopted a workplace culture which encourages the individual to succeed in their role, hence empowering them to improve continuously as much as possible. However, some companies may not be able to recognise the success of some of their employees which may result in these employees to face a drawback in their career. Likewise, some companies may be restricted to a limited space of roles within their organisation, such as roles for managers and executives, and may unfortunately not be able to offer some of their high-reaching employees the promotions they deserve.
Naturally, hard-working employees would expect to be rewarded for their commitment to fulfilling their company’s mission, hoping to be offered a more demanding position and a higher salary. Such diligent individuals are of course an asset to any company with roles within their field of expertise, and so would look to career opportunities in high consideration should they come knocking.
Workers who are serious and passionate about improving their company’s state of operations ultimately improve their personal skills and attributes too. This is a win-win situation, as it makes perfect sense that for a person to improve they must be within an environment and in a position which allows them to reach their full potential.
Enhancing Skills & Experience
Some people seek a new job or wish to move to a new company within their industry in order to gain more valuable knowledge, skills and experience of that industry. After some time, employees at their current job may feel that they have fully experienced the learning curve which that job had to offer, and hence feel that they must move elsewhere in order to move up the ladder. Once a person gains expertise in their role within the company, they may feel secure and content with their status, or otherwise feel as though there is further to learn and be explored, shifting towards a job change. Some employees may feel that their current job is no longer challenging them enough or is no longer interesting, and this may cause a negative spiral in their career. After all, one must prove to be constantly productive and pro-active in order to improve and move forward to achieve their career goals.
What is also certain is that by working for more than one company one will be enriching their professional outlook and capabilities, forming a more well-rounded individual within the field.
Financial Rewards & Stability
Not all companies within the same industry are equally financially rewarding. Larger organisations may offer individuals more attractive salaries for the same roles, making employees of certain companies more persuaded to opt for a job change, especially if their qualifications and experience satisfy and exceed the criteria for the job.
Small and large companies alike may require the same level of requirements for the role to be fulfilled, with just the disparities of the industries creating the difference in salaries. This is due to the differences in market size, market reach and the growth of the sector of the industry. A larger and better established company may be able to offer their employees better salaries due to the market size and reach of that company. This means that employees working in identical positions at different companies may earn different wages and experience different career-growth opportunities. Also, emerging sectors such as those of Fintech, Financial Investments, ICT, Biotechnology and Green Energy are offering numerous job opportunities with attractive salaries to go with them, all due to the high demand for workforce and manpower.
On another note, some employees might feel the urge to approach a new job which is more financially rewarding in order to maximise savings or to be able to live more comfortably, especially when looking after a family.
Such financial reasons may convince the individual to consider a job change so that they could earn as much as they feel they need and deserve.
A Better Workplace & Company Culture
A factor which prompts an individual into considering a job change is that of looking towards a more positive and beneficial working environment. In particular instances, employees may feel that their place of work occupies a stale atmosphere, be it due to one’s colleagues, managers or the design of the space of the workplace which gives off an uninteresting or dull ambience. The design and layout of a workplace as well as the people who occupy it are proved to impact the creativity and productivity of the individual, due to hinders in their mental state which affect their working conditions and capabilities. Nowadays, companies have started to adopt their own cultures which empower their employees to leading a more fulfilled life both in and out of the workplace. Such companies recognise that by addressing and improving personal matters related to health and happiness one will be able to succeed in all other areas of life too. Modern company cultures include employee benefits and comfortable working environments for employees to keep mentally fresh and focused throughout the day. Moreover, such companies create a stronger sense of belonging between their employees which in turn benefits the company - happier people are more collaborative and cooperative!
It therefore goes without saying that people who work with companies which do not implement a positive culture are likely to look into a job change to a company which does. After all, employees spend a great percentage of their day at the workplace, so might as well make it a place which they look forward to working in!
What to Consider Before Changing Job
Changing job could be a major turning point in one’s life, and before seeking to change job it is important for one to evaluate a few key points which may determine their decision, in order to ensure that it will be of a positive outcome.
Assessing Your Reasons
The first important question that one should ask themselves before changing job should be - ‘Am I leaving my current job to go for a better one, or because I am running from a bad one?’ This question might at first seem to be referring to the same idea, however both parts are very different when seen in the right context.
One should not feel as though they are running from their current job, hoping to grab the first one which comes their way. Rather, they should assess the reasons why they are unhappy at their current job and look to a new one in a motivated manner, looking forward to a new job which brings out the best of them and offers the necessary conditions where possible. Similarly, there should be an important reason as to why you wish to move onto a better job than your current one too - ambitions and goals should be laid out and taken into consideration when looking for a new job in order to assess whether the new job will fulfill them.
By assessing your reasons you will be able to make an informed decision based on your priorities - what you will be leaving at your current job and what you will be going for at your new one must be both equally considered!
Understanding Your Roles
Before going into a new job it is important to understand what your role will entail. Will your tasks be similar or different to your current ones? Will you be expected to work extra hours if necessary? Will you occupy a more responsible status? Asking your potential employer about the job specifications and requirements is always a wise decision, and one should not hesitate to ask an employer to clarify any unmentioned details too.
Understanding the Company’s Mission
Prior to undertaking a new job, one should also familiarise themselves with the mission statement of the company they will be working for. Before committing to a role in the company you must also be ready to commit to fulfilling the company’s aims and long-term vision.
Consider Career Growth and Opportunity
You must be certain that the new job you will be going for will allow you to develop your career further by moving up the ladder within the company. It is always good to make sure that the new role offers opportunities to learn and grow from.
Consider the Salary
When changing job it is always important to acknowledge the new salary being proposed to you. Although passion and commitment comes before the pay-check, it is still a factor to take into consideration. The best way of doing so is by comparing the weight of your role and responsibility of your current job with those of your new one. Is the salary adequate when considering the level of work and responsibility which is expected? That said, the new job may offer more exciting possibilities which make the salary of less importance - it is better to earn half as much doing a job you love than earning double doing a job which makes you feel miserable! Only take into account the possible impacts on your expenses and savings!
Consider the Company Culture
As mentioned previously, company culture can make or break the working experience of any employee. Be sure to look into the working environment and the social atmosphere of your new colleagues before accepting a new job, as well as the culture that the company endorses.
All in all, going for a new job can be both exciting and scary, however by understanding your priorities and ambitions for your career and personal benefits, you will better be able to make the right decision when evaluating if a new job is right for you!
Countering Money Laundering: Compliance, Investigation and Management / Module 3: Detection and Investigation - Online Course (Live Session):
8.30am until 5.00pm
Countering Money Laundering: Compliance, Investigation and Management / Module 4: Management and Governance - Online Course (Live Session):
8.30am until 5.00pm
Remote working – a COVID-19 Phenomenon?
Remote working – a COVID-19 Phenomenon?There is no doubt in my min...
Reevaluating Business Tasks & Prioritising...
Directing the flow of business during this unique time has certain...
Structuring Business Stability for Effecti...
Given the circumstances of such challenging times, it is no surpri...