In this issue...

•Good Decisions—the Cornerstone of Success

• Your Next Job: What Does It Really Pay?

Good Decisions—the Cornerstone of Success
Making good decisions is important all of the time, but perhaps even more so when you’re contemplating a new job or you’ve just taken one.  In this issue of The ASM, we outline some of the factors that can be involved in your decision-making process during these crucial times, and we even offer some suggestions for making the right ones.  But we can already tell that you’re in the habit of making good decisions.  After all, you’re reading The Animal Science Monitor!

Dan & Don

Your Next Job: What Does It Really Pay?
(By Dan Simmons)

Compensation will undoubtedly be a key factor in your decision whether or not to accept a new position.  However, few people take the time to really understand their economic choices, mostly because there are so many factors, including cost of living, benefits, and so forth.

Thoroughly evaluating every aspect of a potential move from a financial point of view is extremely important when determining if a new position is as truly advantageous as it seems.  To help you put your choices into perspective, I’ve divided those things that may affect your evaluation into two categories: the obvious factors and the ‘hidden’ factors.  (The hidden factors aren’t really hidden; they just don’t spring as readily to people’s minds when they analyze the possibility of accepting a new position.)

The obvious factors
These are the things that people think of first when contemplating a move.  The pros and cons of each of the following should be weighed both individually and then as a whole:

• Base salary—This one is fairly easy, a number-to-number comparison.  However, as we’ve discussed before, there are many other things to consider when you’re thinking about changing jobs.

• Bonus/commissions—Perhaps your new position involves more or less commission pay than base pay.  It may also possess more opportunities for you to earn bonuses based on performance or other criteria.

• Reimbursed expenses—What is your current company’s policy regarding reimbursement?  How about the company with which you’re interviewing?  Does your position even involve the need for reimbursement?

• Pension—More and more these days, companies aren’t offering pension plans to their new employees.  Do you homework to find out the facts.  If the company is offering a plan, how does it compare to your current employment situation?

• 401K contributions—Once again, do some digging to find out if the company has a 401K plan and how much, if any, it contributes to it.

• Value of stock or equity—Does the company offer stock options as part of its compensation package?  What kind of history do those stocks have?  Does the company offer other kinds of profit sharing options?

• Other perks—Will you have access to a company car?  An expense account?  Does the company share its season tickets with the local professional sports team with its employees?  Perks such as these means less money you have to shell out.

The ‘hidden’ factors
The factors below can make a significant difference when you’re analyzing a potential move.  However, they pose a problem because people don’t look at them closely, if at all.

• Cost of living differences—This includes property taxes, state taxes, and local taxes.  Are they higher?  Lower?

• Moving expenses—Will the company pay for part of the move or for all of it?  If not, the cost can add up quickly in this category and cut deeply into any wage increase you might be receiving during your first year of employment with a new company.

• Travel expenses—As we’ve mentioned in previous issues of The ASM, more people are traveling longer distances to work and back every day.  Will your new position offer a shorter driver or a longer one?  With the fluctuating price of gas, this is a pertinent question.

Ensure success
What a new job pays is much more than just salary and even more than salary and benefits.  There are a lot of factors involved, some big and some small, and inattention to detail can leave you scratching your head at the end of the process.  Weigh the items I’ve outlined above in a careful fashion, and you’ll be able to ensure that the decision you ultimately make will be as sound as it can possibly be.

If you have any questions regarding this topic, please contact me at dan@consearch.com.

The Proper Way to Resign
(By Don Hunter)

Once a new job has been accepted, what you need to consider is the timing of your resignation.  Since two weeks’ notice is considered the norm, make sure your resignation properly coincides with your start date at the new company.

Try to avoid an extended start date.  Even if your new job begins in 10 weeks, don’t give 10 weeks’ notice; wait eight weeks and then give two weeks’ notice.  This way, you’ll protect yourself from disaster in the unlikely event your new company announces a hiring freeze a month before you come on board.  By staying at your old job for only two weeks after you’ve announced your resignation, you won’t be subjected to the envy, scorn, or feelings of professional impotence that may result from your new role as a lame-duck employee.

Some companies will make your exit plans for you.  I know a candidate whose employer had the security guard escort him out of the building the moment he announced his intention to go to work for a direct competitor.  Fortunately, he was still given two weeks’ pay.

Your resignation should be handled in person, preferably on a Friday afternoon.  Ask your direct supervisor if you can speak with them privately in their office.  When you announce your intention to resign, you should also hand your supervisor a letter that states your last date of employment with the company.  Let them know that you’ve enjoyed working with them, but that an opportunity came along that you couldn’t pass up.  Also let them know that your decision to leave was made carefully and doesn’t reflect any negative feelings you have toward the company or the staff.

You should also add that your decision is final and that you would prefer not to be made a counteroffer, since you wouldn’t want your refusal to accept more money to appear as a personal affront.  Let your supervisor know that you appreciate all the company’s done for you and that you’ll do everything in your power to make your departure as smooth and painless as possible.

Finally, ask if there’s anything you can do during the transition period over the next two weeks, such as help train your successor, tie up loose ends, or delegate tasks.

Keep your resignation letter short, simple, and to the point.  There’s no need to go into detail about your new job or what led to your decision to leave.  If these issues are important to your old employer, they’ll schedule an exit interview for you, at which time you can hash out your differences ad infinitum.  Be sure to provide a carbon copy or photocopy of your resignation letter for your company’s personnel file.  This way, the circumstances surrounding your resignation will be well-documented for future reference.

If you have any questions about this topic, don’t hesitate to contact me at brg@charterinternet.com.