Why changing your job might be a bad decision!

We say that Cloud tech, AI, AR/VR and Automation are some of the hottest trends in the IT industry, but unfortunately, it isn't so. ‘Job-hopping’ is currently raging as the top trend.?Consequently, most organizations in our industry are facing this crisis of attrition. There is a sudden uptake in the market since mid to late 2020, and the same pool of people are moving between the same set of companies, and each time they are hopping, they are getting a raise.?A person on notice is a ‘hot property’ and is literally auctioned at an insane salary level in the job market.?The ‘no shows’ numbers just before joining date were never witnessed before. Nearly every person holds more than one offer once they decide to quit. The question is: While all this seems like a dream run for the employee, is it that good for his or her career?

Building a career is more about investing in yourself, creating your value and your brand, as you grow, it becomes important that your contribution is not only to your immediate organization but also to the industry you are part of. Career is often not about making money. When the focus is on the right values, money makes its way in, and in abundance – it may be slower initially, but once it gets associated with your brand, it floods in. Ironically, when people put money at the center of their career, it might flow fast in the beginning, similar to what a new gambler experiences, but does not sustain for long (unless the person is smart and keeps on following the flow of money, which by itself is a career. We are not talking of those niche entrepreneur class of people).?

When you think of quitting your job, contemplate the following:

Myth#1: The grass on the other side is greener

Most people quit because they feel they have some aspects of work in their current job that they don't like, a lack of work-life balance, or they are not appreciated enough. They are probably right! Many employees face this but here comes the hard truth: you will not get anything different in the new organization. Every job today comes with long hours, overseas customers, complex demands, time and budget constraints, blown up targets, and consequences of wrong estimations. Even in the new job, you will you will not like some of the work, and that is a guarantee! Moreover, managers are not abstract entities; they are people finally – you will find in abundance those who are highly task-oriented and their likelihood of appreciating you ranges from zero to hardly anything. So, the very reason you are shifting your job most likely will not be achieved. In fact, you will be stuck in a new place because you came with on a high salary and switching again may not be easy. And on top you might also burn bridges with your previous organization.

Myth#2 I got a better offer

The part related to compensation is always tricky. Before quitting your existing organization for a better pay package, consider the following:

1. How is your existing?work culture? Understand that most of your daytime you are spending working and to have a good, respectful work environment is not trivial. Not everyone has it. People go into heavy depression just because they did not find the culture of the organization compatible. Would it be worth quitting a good work environment for some extra money?
2. How is the?leader you are working with? If he is humble, respects, values you, and trusts you, he is also the one who has a vision and drive for organization growth, then would you not learn more from this leader rather than quitting for few extra bucks? Having a good leader is never for granted. If you have got one, hold on to him or her.
3. The current organization is a?place of comfort. Hence, it allows you time to learn new skills and technologies, follow your hobbies and spend some time on things that are not necessarily related to work. By now, you know that if you work well, you can afford the luxury of investing your time in other essential things. As against when you change your job, you need to give (at least initially) a lot of time learning the existing products, implementation, work processes, etc. Would it be worth giving away this ‘my time’ for some more cash?
4. How is your value at your current workplace? Do the people around you?treat you with respect and love? Do you have enough friends? Does your manager trust you? Do you have enough empowerment? If the answer is yes to most of these questions, think many times before you put down papers because in the new organization, you might get more money but if you don't have enough respect, empowerment, trust - is it really worth it?
5. Do not underestimate the?domain knowledge, the relations you have built in and outside the organization, and with your customers. Most of the time, change of organization means forsaking all these. Are you ready for that for some extra cash?

Another fundamental behavior related to money is that there is hardly anything like "more money" above a certain level. Once you have enough money to have a good lifestyle, including?a good house, a reasonable car, good school for your kids, money to be spent for unnecessary shopping, gifts and yet have a healthy bank balance; anything above this point does not make any noticeable difference. Because with that extra money, you might end up buying an additional property (where you might not live) or an extra car and, finally invite un-needed EMIs for your loans!

Also remember why is someone paying you so high? Is it something sustainable? Do a self-assessment – are you having that niche skill or just happen to ride the inflection of the market? Nothing wrong if it is the latter, but be aware that it will not be sustainable. You might burn bridges with your existing company and land up in a vulnerable situation if the new company fires you in a short time. Not many other companies might give you a similar package.?

Unless you have contemplated on these points, do not change your current organization. Does it mean you should stay glued to the same organization forever? No, certainly not. But the change needs to have a fundamental reason and not just because it is a trend, or some other company has suddenly offered you a big raise. Career building is like a marathon and not a sprint.