Much is known about what employers look out for when interviewing their employees and there are so many articles out there about interview tips and how to land your first job etc. But not much is known about what a potential employee should consider when they are being offered a position in a company, other than the salary of the job obviously.
According to LinkedIn, Singaporean employers seek to hire those with communication skills, problem-solving skills and strategic thinking over those with traditional attributes and professional networking. You know this and you may have these skills to secure a job, but do you know how to assess a job offer when offered one?
Singaporeans regularly switch jobs and enjoy one of the lowest unemployment rates in the world at 2.3%. While this gives you greater autonomy in your job hunt, it also means that when switching jobs, it is likely that you have to consider different job offers occasionally. With so many options available, salary is not the only factor to consider in a job offer. With the majority of Singaporeans relying on a salaried job as their main source of income to build up their wealth, this article will come in handy to many.
Here are the 4 things that you need to look out for in a job offer other than your salary.
Simply put, career progression is about moving forward, being promoted and being faced with new challenges, new opportunities and new people in your career. Having career progression allows one to get the most out of their job and enjoy greater job satisfaction. A crucial aspect to look out for when evaluating a job offer is the career progression that a job might potentially offer. While having a high salary offer gives an indication of how far you have come in your career, that should not be the only consideration. Very often, the higher the salary, the greater the responsibilities to the job, so this is one very important thing to look out for when considering a job offer.
Imagine working in a bank for 10 years, if you are doing the same thing every day with no change, you will surely be bored and not feel stimulated at work. Having career progression means being face to face with newer, fresher and even unknown things in your career, which allows you to pick up new skills and gain different experiences. By having something fresh in your career, it allows for greater engagement and interest which in turns generates job satisfaction. To see if a job is the right fit for you, you should speak to the company to learn of any advancement opportunities and see if it aligns with your personal career goals and aspirations.
It is reported that workers from Twitter are the happiest in the United States. Twitter received the highest rating from its own workers in terms of corporate culture and values on Glassdoor.com, with an average score of 4.5 for culture on a scale of 1 to 5. Company culture is the set of shared values, goals, attitudes and practices that makes up an organisation. Very often then not, companies hire people based on how well they see an individual fitting in with their company’s culture. You will notice that in some companies, the type of people they hire are often similar in terms of character and this in turns generates greater attitudes at work.
Finding a job where there is a positive company culture allows you to become more enthusiastic, happy and productive at work. A positive company culture allows workers to look forward to their jobs and this is an important factor to consider when evaluating a job offer. Money aside, everyone wants to work in an inspiring workplace where their mission and values are aligned. You want to ensure long-term happiness working at a new company and culture is so very important.
Work–life balance is the equilibrium between personal life and career work. There is life beyond work and other aspects of one’s life that is important, such as family, friends and personal goals, which are crucial to ensure a happy and fulfilling life.
A good job is one that allows you to have time for the things that matter, and one that equally prioritises the demands of your career and the demands of your personal life.
When offered a job offer, take some time to talk to people from the company or find online reviews on how it is like to work at the company to better understand the company’s stand on work-life balance.
Sometimes, work-life balance can be in the form of good human resources policies, such as flexible working hours, employee benefits or work-from-home arrangements. It can come in the form of a supportive boss that values you. Frustration and resentment to your company can occur if there is no work-life balance. Hence, it is crucial that you find a company that prioritises your well-being and give you time for other things in life.
4. Job Security
The Coronavirus outbreak had negatively impacted the global economy and individual employment. In Singapore, the Circuit Breaker restricted non-essential travel and closed non-essential businesses, forcing workforces to halt operation or switch to working from home, if possible. However, companies who are not able to do so, ended up having to lay off their staff or even close down. Job security was substantially affected as a result of the coronavirus outbreak which led to involuntary job loss and unemployment. Studies have also shown that continued unemployment and retrenchment will have a significant and long-term impact on one’s mental health. Similarly, job insecurity can be a stressor that is detrimental to our well-being and mental health and is related to increased levels of depression.
To prevent yourself from being in this position, one factor to consider when offered a job offer is to determine if the new role has job security. Not only do you have to think about whether a job is the right fit for you, but you will also have to consider if it will still exist in a few years down the road, or exist during a recession or pandemic. To determine if the new role has job security, you will need to look at what industry does it belong to. Take the situation of the COVID-19 pandemic as an example, the essential industries that were not heavily affected are healthcare, the food & beverage industry and fast moving consumer goods. Working in such companies have higher job security as they are important and relevant during the pandemic and in our everyday lives.
It is exciting to go on a job hunt and start on a new role, however there are many considerations to think about for your future. Landing a new job means getting a new, and maybe higher salary than your previous work. Managing this fund is as important as utilising financial strategies to grow your money. During tough times, your emergency fund can tide you over while you find a new job. Having contingency is crucial and especially so if you do not have the right insurance policies to cover you during a recession, pandemic or crisis. Talk to a certified financial planner as well to discuss what can be done to safeguard your future.