The ‘New Year, New You’ messages have barely died down before the bonus and promotion season gets started in many industries. For those who miss out on the pay rise, the bonus or the promotion they were hoping for, it can seem like the ideal time to look for a new opportunity. But with so many other candidates having the same idea, is it really the best time to move on? We ask Rory MacSween, Co-Founder at SRM Recruitment, for his advice on what to do if it’s time to move on.
- Talk to your manager
Don’t wait until your resignation to negotiate your position at your current firm. While the grass may seem greener at another organisation, a new opportunity in an environment you’re familiar with may be a great chance to realise your potential without having to enter a crowded market. If your concerns are purely remunerative, talk to your line manager sooner rather than later. If you wait to take a counter-offer when you resign, you could tarnish your name in the organisation.
Have regular discussions with your manager about what their long term plans are for you. It’s not something you should do three months in, but if you’ve been with an organisation over a year, it’s a good idea to regularly challenge your manager so that you both understand each other’s expectations. Those conversations can build a healthy relationship that could make the difference between staying or looking elsewhere. - Talk to your peers
If you’re experienced in your field, it can pay to have an informal chat with people outside the organisation that you have a good relationship with. These are likely to be senior advisors who might have insights into the market or their own network where hidden opportunities could lie. Maintain a relationship with these people and you may hear about a role ahead of the curve. - Partner with an expert
Recruitment consultants have access to a network of opportunities that are not widely available publically. Speak to colleagues who’ve left your organisation and have experience in the recruitment market who can give you the names of trusted partners and agencies.
Once you’ve found one or two that sound promising, have a non-binding conversation with them to get an understanding of which agency will represent you best in the market. Bring a list of your ‘dream organisations’ and see whether they have a relationship with those firms, or whether they know that company’s current hiring strategy. If they don’t, they might not be the right agency for you. Be selective – it’s very off-putting to a hiring manager to see your CV come from multiple sources, as it shows your lack of control over your search.
Don’t wait until the 11th hour to find the right partner for you. It takes time to build a good relationship with a recruitment consultant, then the hiring process and your own notice period can delay things further. The sooner you can have speculative conversations, the better. - Keep your details up-to-date
If you start talking to a recruitment consultant in the New Year, then you have a salary and bonus review in Spring, make sure that you update them on any changes to your remuneration expectations. Be upfront and honest about what you want – no one wants a surprise at the moment of offer. Be realistic too, about your expectations. Ask your recruitment consultant about benchmark salaries, and be aware that ‘golden handshakes’ or similar packages are far less common now than they used to be. - Leverage LinkedIn
There are still many candidates who do not have a complete, up-to-date LinkedIn profile, and this puts them at an immediate disadvantage. Whether you love social media or hate it, LinkedIn is a necessary evil, and if you’re actively looking for a new role, it’s worth investing some time to get your profile right. Follow the guidelines LinkedIn has created to ensure your profile is complete. It doesn’t have to tell the whole story – it can be a snapshot, but it must be attractive enough to appeal to recruiters and employers.
If you are expecting Linkedin to be a useful source of new roles for you make sure you regularly check your messages. - Take your time
Missing out on a promotion or the bonus you want can make you resentful and emotional. However, it’s important not to jump quickly into the wrong opportunity. No matter how desperate you might feel, make sure you move for the right reasons, to the right place, and not just because an opportunity looks similar to your role but with £5k more on the paycheque. There’s nothing worse than having multiple moves in a short period on your CV, so take the time to avoid mistakes.
SRM Recruitment will always give an honest appraisal of our reach in the market and our track record of helping people like you. If we can help, we’ll tell you how, and if we can’t, we’ll try to point you in the right direction. Our approach means we work with fewer people, but we build long-term relationships with them, meaning our candidates often become our clients. If you’d like to chat with one of our consultants about how we can help you, get in touch.