Corporate buy-outs, corporate downsizing, layoffs, these are words that strike fear into the heart of many Americans. Often it is the owner and management who will be the only ones to go as the new owners' or executives move in to take their place and they are relying on you as one of the people who already know their job, to help them through the transition. Sometimes your boss is shopping for a better package elsewhere and you or some of the other employees may be shopping your resumes as well. Imagine that your boss who was ousted, or who is shopping the job market has found a great new job with another company and they have told him to assemble his own team and bring them with him. He asks you to come with him because he values you as a member of his team and he sees a bright future for all of you with this new employer. The question now is do you stay or do you go?
There are all kinds of things that you must evaluate before you decide whether to stay with the existing job or go to the "greener pastures" that your boss is offering you. First, you are flattered, that your boss thought so highly of your work and would like to continue to work with you, this is truly an accolade to the job that you have done while working under them. You need to suppress the desire to act just on that basis or out of a desire to please a boss that you have liked working and whom you respect with for whatever length of time. This is not about that relationship though, this is about you, and what you need to do is sit down and think about the pros and cons of accepting his offer.
These questions will help you to evaluate whether it's time to jump ship with the boss when he goes:
What am I leaving by taking this job?
Remember you still have a job. The job that you have now you have probably settled into. You are obviously liked and respected, or you wouldn't still be employed there. You have carved out a niche among the other workers and you know your job well. Possibly the opposite is true and you do not like your job or you come into conflict with your coworkers often and you are actively looking for a better or just a different job. That could put a whole different spin on your evaluation of whether to jump ship or not couldn't it?
Where is this new job located and how does it affect my commute to/from work?
The location of your job may have been a major factor in your decision to purchase a home in the area that you have. Now with the housing market doing poorly in many places you cannot get "out from under your home" and move. If you commute, carpool, use public transportation such as a train or bus, or even if you drive to and from work inn your own vehicle, with costs for gas through the roof any addition to your commute may just be the deciding factor. If you must drive further for your commute also, you must consider this also, adding time to your commute will subtract time from your sleep. If the new job is closer to where you live then that can certainly be a plus in favor of making the change. If the new offer is sweet enough however one may just decide that the distance is not a factor in the decision to go or to stay where you are.
Pay, benefits, opportunity for advancement & retirement planning.
Another deciding factor for you may be how much the job pays. Is it a raise in salary or are you going to take a cut in pay if you change jobs? How does the benefits package with the prospective employer compare to the one that you have now with your current employer? What will be your role in the new job? Are you going to be taking on a new title, new responsibilities, and new opportunities to grow within the company or to share in it's successes with a profit sharing package? What types of retirement planning options do they offer to their employees? What is the current retirement investment package at the place where you work now? Can you transfer it or is it easy to roll over and take with you to the new company? What is the bottom line gain, or loss, to your personal financial picture? This is sometimes the deciding factor in the decision whether to stay or go. Some people cannot afford the loss of even 1000 dollars a year in their salary because they are stretched as thin financially as they can be now and any reduction in income is just not feasible. A lot of people are teetering on the edge of dissolution or are at least facing the loss of one or more major assets such as home, car, luxury items, or even saving for their children's education. If they take any cut in pay, for any reason, they will have to give up something and many people are not willing to do any such thing when changing jobs.
Who is the company your going to?
Who are the people behind the company that you are considering making the change to? What are the company's assets and what does the picture look like for their future? What are the goals that they are trying to achieve? Where do you fit into this plan and how much security is there in the job that you are considering.
Most people are only willing to change jobs when the offer that they are accepting brings some added benefit to their lives. They are willing to make the change for more money, less commute time, (which means more money and more sleep.) a better job title, or more responsibilities, more opportunity for advancement, etc. What "it" is that each person is seeking for their career is different for everyone. What they intend to accomplish within their professional career and the hopes and dreams that they have for the future are all factors for changing or staying with a specific job opportunity. While it may be flattering to be wanted both by your former boss and on his recommendation, by the prospective employer, the question is what do you want? Follow your heart but keep your eyes open also, changing jobs is stressful and while you may see great potential in making a change do not discount the potential for not making one right now.