5 Things to Consider When Strategizing Your Employment Transition: Navigating Opportunities Wisely
Are you considering a job change? Making a career move is a significant step, and it's crucial to take that step only with careful planning and strategic thinking. Before you leap into a new role, pause and evaluate. Resigning prematurely from your current position can lead to missed opportunities or legal complications. To navigate this crucial phase, ask yourself these 5 essential questions:
1. Consider the Timing of Your Departure…
…and whether you are leaving money behind.
Is your resignation timed appropriately, or could you be forfeiting a forthcoming bonus or other benefits by leaving now?
2. Compensation Considerations
Frequently, candidates look at the base salary package without giving due consideration to other benefits. Assess the impact of your proposed move on your current deferred compensation and equity plans. How much earned compensation might you be leaving on the table? When you compare compensation packages, are you considering the financial value of other benefits the respective employers offer?
3. Legal Constraints
Have you confirmed there are no impediments to your move due to non-competes, confidentiality agreements, or non-solicitation or other post-employment restrictions that could hinder your transition?
4. Employment Offer Verification:
Do you have a legitimate written offer letter or employment contract that clearly outlines the job offer, role responsibilities, compensation package, and other critical employment details? Consider any new restrictions that may be imposed.
5. Navigating Current Employer’s Policies:
Have you reviewed your current employer's notice requirements, and do you understand any ongoing obligations post-employment?
Addressing these points is key to an informed and smooth job transition. Consulting with independent employment legal counsel can provide personalized guidance tailored to your situation.
Transitioning to a new job is more than just a career move; it's a life-altering decision that requires thoughtful planning. By considering these factors and consulting competent counsel, you can ensure your move not only benefits your career path, but also helps you minimize the risk of potential litigation or disputes down the line.
For more insights on navigating employment transitions, stay tuned to our blog The Employment Strategists and our soon-to-be released podcast of the same name.