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9 components to contemplate earlier than altering jobs

Sometimes the grass on the other side is really greener. Sometimes it's just more of the same.

So how can you tell in advance whether the opportunity will really be worth it if you leave your current job for a new one?

While there is always a risk when changing employers, you can make safer choices by considering a few key factors. Here are the most important variables to consider before changing jobs.

Flexibility from home

As the Covid-19 pandemic has shown, many employees can work just as efficiently from home as in the office. While some companies have vowed to keep people working from home, partially or permanently, others have resolutely refused to make working from home the new normal.

If you prefer a more flexible schedule because of family responsibilities, chronic health issues, or any other reason, flexibility from home should be a high priority.

Health insurance

Health insurance is one of the most important factors to consider. A company that pays your rewards is essentially giving you hundreds of dollars in benefits every month.

Ask about health insurance coverage before taking on a new position, especially how much the monthly premiums are. Many small businesses are not required to insure their employees. If you're applying for a job in a small business, make sure to inquire about health insurance early on.

If the company doesn't provide coverage, you'll need to purchase a policy on the HealthCare Marketplace, where you are 100% responsible for the premiums.

Paid vacation

Paid time off is another important consideration to consider before leaving one company for another. If your employer has a generous vacation policy, you might be surprised to find that other companies are stricter.

Paid time off includes vacation days, sick days, public holidays and parental leave. If you have children soon, check your company's maternity leave policy so you can compare it to potential employers.

Pension contributions and stock options

If you are currently receiving matching 401 (k) contributions from your employer, check the vesting schedule of your new job. The vesting schedule is how quickly you will earn 100% of employer contributions.

Many employers have a tiered vesting schedule, which means that you earn a percentage of the employer's contributions each year. For example, if your company has a five-year embargo, you will receive 20% of its contributions each year. As soon as you have worked there for five years, you will receive 100% of the contributions.

Others use a cliff vesting schedule that requires all or nothing. You have to work there for a certain number of years in order to receive 100% of the employer's contributions. If you work less, you are not entitled to it. If you don't plan on sticking to your next job very long, understanding the vesting schedule is important.

Public corporations often offer their employees stock options that can add up to thousands of dollars in additional benefits. Employees with a share purchase plan can buy company shares at a discount and later resell them for a profit.

Educational benefits

If you are planning on going back to school, find a company that offers tuition reimbursement. Many employers pay all or part of your tuition fees, but benefits vary.

Some require your degree to apply to your current position while others are milder. If you don't want a full degree, you may be able to convince your employer to pay for specific courses or certificates that will also improve your resume.

Some companies already offer student loan repayment. With these programs, employers contribute to your student loans either by adjusting payments or by providing a set amount each year. As with a 401 (k) match, you may have to work there a certain amount of time in order to qualify.

Room for further development

When looking for a company to stay with for several years or more, it is important to see if there is room for growth. The bigger the company, the more likely you are to stay and be promoted to another position. This is more difficult for smaller companies, where the room for maneuver may be limited.

Corporate culture

The general office environment can affect your overall job satisfaction but is often neglected during the interview process. When interviewing in person, take note of what the office looks like and how the employees behave.

Do you hear laughter or is it absolutely silent? Do you have a diverse staff? Are there any fun initiatives like casual Fridays or does there seem to be a strict dress code? Depending on what you're looking for, the answers to questions like these are vitally important.

Corporate stability

Nobody wants to get a job only to be laid off months later. Before changing company, find out from your potential employer whether there is any risk of shutters closing or selling.

Check out the latest press clippings, especially from the local newspaper or business journal. If you have friends in the industry, ask if they think the company is stable.

Sometimes you can't help but take a risk, for example if you work for a start-up or in a volatile industry. In that case, you should have a sizeable emergency fund and keep your resume and LinkedIn profile up to date in the event you lose your job.

education and training

If you're interviewing at a job interview, ask if they'll pay for staff training, e.g. B. for attending industry-wide conferences or local training courses. It is valuable to work for a company that cares about the professional development of its people.

If you do not expand your knowledge, you may find yourself in a difficult position years later when you are looking for another job with outdated skills.

Use your intuition

If you've considered all of the factors listed above, but you're still in a bad mood about the new job, don't hesitate to step back. Your gut intuition may tell you something important about the company that you cannot express clearly.

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