It's a great time to be in the job market.
You’re probably thinking that it’s the end of the year and everything is winding down, so why bother?
Well, according to HR expert Siwe Sibeko, people who are hired in January or February have been in the recruitment pipeline since the previous year. So the interview call you’re hoping to start the new year with, depends on you submitting job applications immediately.
If you have been applying this whole year with little to no success, now is a good time to not lose heart – simply because this is when a lot of the fatigue sets in for many people.
Changing jobs is a major decision, however, warns Shafeeka Anthony.
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Before quitting your job, do your homework and consider factors such as your prospective new employer’s work benefits, potential workload, and skills development opportunities, says the marketing manager at personal finance advice site justmoney.co.za.
“You may be enticed by a higher salary, but keep in mind that this could entail moving into a higher tax bracket, a longer commute, or less downtime with family and friends,” she says.
“It’s vital to consider multiple factors before giving notice.”
1 Timing
Instead of a job change, you may need a holiday to regain perspective. Identify the reasons for your dissatisfaction and make a decision when you feel relaxed and refreshed.
2 Goals
Consider your long-term personal and career goals, and determine if the new job aligns with these. Consult a mentor or trusted adviser to make an informed decision.
3 Current contract
Review the fine print in your current job contract. Take into account restrictions such as restraint-of-trade agreements barring you from working for a competing company, or with current customers, for a set period.
4 Company benefits
Review the overall compensation package on offer, including medical aid, retirement benefits, bonuses, company shares, and perks such as an in-house gym. It’s advisable to consult a financial planner when making this assessment.
5 Corporate culture
Research your prospective employer’s culture. Search for information on the company website, read media articles, and check social media reviews.
6 Tax implications
Consult a tax professional to ensure you’re up to date with tax laws, particularly if you’re considering moving overseas.
7 Work-life balance
Evaluate the expected workload and work hours. Will longer hours and extensive travel affect your personal life?
8 Professional development
What new skills and experiences do you stand to gain? Does the company fund or reimburse further studies?
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9 Job security
How stable is the new company and the sector in which it operates?
10 Emergency fund
Ensure you can cover your living expenses for at least three months. You may incur unexpected costs in a new job, it may not meet your expectations, or you could be retrenched.
