Everyone’s career tells its own story. No two career trajectories are quite the same – so it stands to reason that no two career moves would be quite the same. But when candidates are thinking about a career change or a change of job, their reasons and motivations tend to fall into similar categories.
And no, it’s not just about salary – although that is often a primary motivation, especially when the increase on offer is a substantial one. People generally have more than one driving purpose – money, new management, fresh challenges, or hours just to start with.
We’d like to explore some of the most common reasons people move jobs and identify some key considerations if you’re considering a move yourself.
While Accelerate is a specialist Financial, Legal and Compliance Recruitment company, what we’re saying here could apply to opportunity seekers across all sectors and markets.
Management
A main motivator for people seeking a new position is their relationship with their boss. It’s well-known that communication is key but when schedules get busy it can often stumble.
Employees expect that their Manager or Team Lead be highly organised and generous with feedback and advice on performance – but it’s often the case that these Managers are keeping up with their own hectic working day, and these things can be less of a priority. Despite being understandable, this can become a source of frustration for the employee.
It’s often less about ‘bad’ management or poor working relationships. If managers have different priorities or objectives than employees or aren’t supporting long-term career development, it’s natural that employees would start to consider other things.
Consideration:
Try to build in regular one-on-one meetings, monthly or quarterly. Set a clear agenda have put in place benchmarks for measuring your performance. This will give a much better sense of how you’re performing over the longer term. It could be an effective tool for helping you feel more engaged and improving communications with your manager.
Career Progression
Progression is a key consideration for every person, and it’s up to each individual to manage their own career. This is true even for employees of organisations with excellent career progression opportunities and structures.
VPs, Directors and CEOs share one thing – momentum. High performers who progress throughout their careers often seem to strive from one challenge to the next. They are people who effectively manage their own career progression, taking opportunities when they came and setting long term goals.
Consideration:
Communication, again, is key. Understand what further challenges exist in your current business. 18-24 months in your role is a good length of time to build up a track record. After that, make it clear that you’d like to take on new challenges. Build your network across senior management so you may be considered for a ‘fast track’ when opportunities arise.
If your current company doesn’t have the right opportunities then it might be time to move on.
You’ve Been Headhunted!
You receive a call from an unknown number or an email from a contact asking to discuss a new role with a different organisation. This is an exciting moment for a lot of people – it’s clear proof that you’re an attractive hire, that your skills are sought after.
For that reason it can be seductive – but it’s important to listen intently to what’s on offer and consider it very carefully. While having an organisation seek you out may be flattering, it may not be the right opportunity for you.
Consideration:
Evaluate the new role vs. what you are doing now. Sticking with your current employer may be a good option if you’re still building up your track record there. But the new position is going to get you there faster, it’s worth taking the next steps. Establish clear criteria for what you’re looking for. Having your own career plan pays off.
Unsociable Hours
This can be an issue in the Financial Services space – as well as many other industries! While it’s normal for the team to put in extra hours and band together to complete big projects, long hours on a daily basis is understandably an issue for most employees.
Consideration:
Is there light at the end of the tunnel? Or is this the new normal? Maybe the work is an excellent experience and giving you great exposure. In the grander scheme of things, it might be worth it, or it might not. It all depends on your personal circumstances and outside commitments.
Money
Recruiters get concerned when money’s the only reason for making a move. This is because candidates often get counteroffers from their current employers, and then get pulled back into their role. While this may make your employers realise how much they value your skills, it can be frustrating for the other firm that has offered you the new position. As well as that, it can paper over any other issues there may have been with the current role. Candidates who accept counteroffers often end up leaving soon.
Consideration:
Focus your decisions around broader career goals, that complement an uplift in salary. Market factors and the results of salary reviews vary and probably shouldn’t be the sole consideration. That said, it’s very frustrating when things aren’t working in your financial favour. Communication again is key.
For a discussion about Financial Services Jobs in Malta, please contact Alessandro Binetti, Accelerate.
+356 2034 1700