Accepting a new job offer is a major decision for you and your family, particularly if the job requires relocation. The excitement of being the candidate of choice, however, can create rose colored glasses about the job or organization, resulting in later regrets.
If the offer is the only one on the table, the decision needs to be made as a stand-alone as to whether you take the “bird in hand” or wait for something better. For those candidates who have positioned themselves to receive multiple offers, the decision making can become even more complex. “Do I accept the higher paying or higher status job, or the one in the geographic area my family prefers?”
Here are some factors to consider before you accept or reject an offer:
JOB: First, evaluate the scope and responsibilities of the job, depth and breadth, challenge level, and opportunity for creativity, autonomy, and variety. What is the sphere of influence? How can this position impact the success of the business? How much local or overnight travel is required? How much is desirable or acceptable to you? What status does the position have, and where does it fit into your career progression and goals? Does it offer the opportunity to both utilize your previous experience and develop new skills?
Consider the relationships that could support or sabotage your success. This includes both the management above you and the employees who would report to you. Is the job too much for one person? Will you be provided with the tools and resources with which to reach your new job’s objectives?
COMPENSATION: This is, for obvious reasons, the area that most candidates focus on when considering an employment offer. There are many aspects to the compensation package including base salary, commission, bonus, profit-sharing potential, stock options, and signing bonus. More companies today are expecting management to share in the risks and rewards of business success. Compensation is therefore tied to performance goals. Take into consideration whether the variable compensation is tied to your personal performance, or the company’s performance overall.
BENEFITS: It is important to look at the whole offer package, including the value of benefits being offered to you. Health insurance for you and your family is particularly important. What proportion is covered – employee only? Your family? Retirement benefits should also be given consideration. These could include pension, 401(k), or other retirement options being offered today. Do your homework to see that the company’s programs support your personal needs and goals.
Benefits also include paid vacation, sick or personal time. Immediate availability of vacation hours or additional vacation time may be important to you.
COMPANY: Aspects to consider include size, economic stability, employee or management turnover, strength among its competitors in the marketplace, and the advantages or disadvantages of being privately versus publicly held. Consider the culture (conservative? progressive?) as well as the senior management team and their style (closed or inclusive? aggressive? risk-adverse?) What is the potential for career growth within the company? Consider less visible yet critical influences such as the established culture, internal politics, and their compatibility with your personal style.
Another factor to consider is whether the company might be poised for purchase, merger, or take-over. If information and clues point to those possibilities you need to conclude that your position would be vulnerable. While one would hope that hiring management would warn you of such a potentiality in the interview or offer process, this is not always the case. Until the event happens, management may treat that kind of information as strictly confidential.
LOCATION: Subsets of location criteria include the area culture, cost of housing/living, quality of life, quality of education, fit with your social and recreational lifestyle and personal needs. Your research should also include the proximity of affordable housing to where your work will be. Is an hour or more of daily commute acceptable to you? Would you find the commute to be a relaxing transition or a robber of the time you want to spend with your family?
Another important consideration in assessing location is the general economic health of the area. Does your spouse or partner have employment outside the home? How conducive will this location be to his or her re-employment efforts? In today’s business climate, you will also need to evaluate the availability of other companies or industries where you could continue your career in the event that the job you relocated for does not work out.
