1. Higher income should not be the real reason
Regularly the impulse to move roles is a higher salary, with little regard for the standard of work, the employer's brand, future career prospects, the capability for enhancement of ability levels and the chance to think more responsibility. Don't ignore these soft issues totally because you are getting a higher income offer.
Applicants frequently disagree, I'm shaping up to get my yearly assessment and my income is expected to go up by twenty percent, so if I move to your organization, it'll be for a minimum of a 25 percent income hike. if you're so confident about an income hike, and are pleased with your present job, why move at all? If you really would like to move for other reasons, time your move so you have your increment in the bag, and better negotiating capability in an interview.
3. Negotiating your cost to company ( CTC )
Whether or not the precise CTC is the same as your prior job, structure it so that the cash in hand can be higher than it was in the prior job. This could be especially crucial given the new rules articulated in the budget, under which fringe benefits offered to you'll now be taxable in your hands as perquisites. Know how you can maximize your final salary, because that's what matters at the day's end.
4. Pricing yourself out of the current market
There are a few junior workers in organisations with little experience but with high CTCs because they have moved many roles in fast succession. They don't understand the high wages they're getting aren't usually due to their performance, but often as the base level has gone up each time they have changed roles. But without a comparable increase in their experience or skill level, there will be a time when they could find themselves at a cul de sac or pushed out of the market. Employers need staff who can add price to the organization, and not only get paid a big paycheck because that's the expectancy from that industry.
5. Performance analysis standards
Understand the root of your performance analysis in your new job and ideally, have the key performance targets given to you in writing so that there's no absurdity in the year-end review at the time of your bonus payment. Don't make job change calls in haste, without understanding whether what's predicted of you is practical or not. Stretch yourself in the new job to develop talents and develop experience, but do not set yourself up for failing.
6. Notice period
Respect the notice period owed to your present employer. Do not make a short term call to desert your present job without any noticeit can come back to damage you if you obtain the status of somebody who doesn't respect common pro courtesies. See if you can buy out your notice period from your employer.
7. Form sixteen and tax issues
At the end of the financial year, take your Form sixteen from your prior employer and share that with your new employer, so that the correct amount of tax is being taken and you aren't getting more repayments than you have entitlement to. Not forget to take a no-dues certificate, relieving letter and income slips for the duration you have stayed.
8. Shifting your PF balance and superannuation
This may be a large executive issue for you if you've not moved over your retiral accounts to your new firm. Look after the required forms to assist a smooth transition of your account to your new employer.
9. Esops
Don't leave a large amount of price on the table if you have worked tough to earn inducements. If your present employer gave you worker stock possession plans ( Esops ), understand whether or not you are able to encash these . If you're handing over a lot valuable because not all of your shares have been invested, you might like to ask your new employer to supply you an identical upside as a motivation to head to the new job.
10. Insurance
If your present employer was offering your family and you life and medical care insurance coverage, recognise that you may need this from your new employer too. Don't remain uninsured during the transition period from one job to another. Accidents and emergencies come unannounced. Don't put yourself or your folks in danger by not having suitable insurance cover. Additionally, understand the insurance benefits you'll be fit for at your new job and whether you'll have to serve for at least a couple of months before your coverage kicks in.