In quick succession handful of key team members have submitted their resignations. These are individuals with solid performance record. It hurts. But now lured by significant salary increase, they said “I Resign”. More money is a very poor reason to leave. But more money, combined with the following, make moving-on right.
- When challenges die: have you achieved all that was needed in your current job. If yes, move. But if challenge remains, think. Remember, it is achievements that creates value. And achievement is a challenge fulfilled. Football players with richest endorsements are those with goals against their names, with many man-of-the-match trophies in their cabinet and not those who have just run a lot. Abandoned challenges don’t win a prize. If your CV has only a list of such abandoned challenges your marketability will dwindle. Potential is hired at junior levels. Organizations hire proven performers at the senior level.
- When authentic feedback stops: by nature, all of us want to improve. We want to be better in the games we play, in our love-making, as parents and, as workers. The best way to improve is by real-time feedback. Rather obvious, like the best way to make sure of a clean face is to have a look in a mirror. Such real-time feedback are provided by a coach – someone who sees & shares the positives and negatives with the only intention of improving your performance. Thus, if you have a boss who does this, who constantly guides you to improve, treasure it. You will thrive.
- When your company, your boss irritate you: organizations have a life beyond you and I. Sometimes it’s personality, philosophy, soul could be misaligned with your own. If there exists such irritant(s), leave. There could be nothing more gut-wrenching than getting up every morning for yet another soul scorching day.
- When the ‘more money’ is sustainable: remember, cost of acquisition is always higher than retention. If this is true for customer acquisition surely must be for employees. Economics of acquisition make financial sense over a projected period. Often labelled as lifetime value. Companies acquire an employee at a seemingly high cost but with the expectations that the returns, this employee generates, will not only be higher than that one-time cost of acquisition but also the cost of retaining this same employee. Thus, while the initial offer may be attractive, future increments will be so structured that over a defined period, the attractiveness of the original offer is neutralized. Of course, this may not happen if you join another industry, another role, where the intrinsic pay structure is higher than prevalent in your current job. Do take time to work out this mathematics before you leap for that seemingly juicy bone.
An attractive monetary offer is extremely satisfying. But if the other factors are compromised you may be temporarily richer but more miserable. In the long run, if you are miserable, your ability to continue being richer will disappear and you will be just another average bloke. Resigned to a mediocre career.