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IT Services USA Blog
How multiple offers may hurt you – permanently!
March 22nd, 2012
If your skills are in demand, we’re back to the employment cycle that may afford you an opportunity to receive multiple employment offers from competing companies. Congratulations! or maybe my condolences – depending on how you handle the situation.
If you’re collecting all your offers in writing before you’ve made a decision, you’re likely going to burn bridges with all the companies you eventually turn down. You assume they’ll forget with a future possibility of them rekindling their fond memory of you for another offer down the road. That’s doubtful in the day of CRM and ATS tracking systems. When an offer gets finalized, most companies now track why it was rejected permanently recorded in their database. When you come back to them a few years later, all of the details of you rejecting their offer is at their fingertips. Using the analogy of dating, when you turn someone down for the third date, they liked you and you’ve rejected them -they’re not likely to forget 2 years later. They’re not likely to forget you used them or how upset they were at the time making sure they are not compromised again by you in the future. Once the company feels scorned from being rejected at that stage or ‘used’ (and you likely did use them to increase your other offers and activity) you’ve burned that bridge.
The smarter play:
Don’t collect written offers – at that point they’ve gone to the ‘well’ and are much more likely to feel scorned. Instead, go on the interviews, do your due diligence, make your assessment – and if it’s not lining up right, get out of the process before they move to written offer. If you don’t know they’re about to go to written offer and how much that offer will be, then you didn’t do you due diligence properly or you’re ‘off’ on your assessment of the situation. If you get out before the written offer, they are less likely to feel used and you preserve your standing for a future relationship. It’s similar to not going on the 3rd date where the other party takes the breakup more personally. Just like dating, there’s usually a definitive line you cross leading to the other party is going to take rejection personally – in interviewing, it’s the written offer.
A quote from a hiring head from one of our Fortune 500 clients after the 2nd interview: ‘If he needs four offers before he makes a decision, I’m afraid his assessment skills are not as sharp as I need – let’s make the offer to the other candidate’.
Larry Rubin is currently the Managing Partner of both Talent Partners and IT Services – Engaged Search Consultants and Executive Search.
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How’s the Job Market in 2011?
May 14th, 2011
How’s the Job Market in 2011?
Although what you’re about to read here may be contradictory to what you currently read in the news, keep in mind the recruiting sector is a leading indicator of the markets where payroll and unemployment numbers reported are both lagging indicators and have too many matrixed inaccuracies to discuss here.
If one thing is true in 2011, it’s the simple fact that the job market has swung from being client-driven to one that is dominated by candidate demand. Highly qualified job seekers are at a major shortage and it is becoming more evident that companies looking to hire are facing hugely increased competition at interview and offer stages within the recruitment process.
Competition is fierce at most experience levels and this is also driving salary levels upwards at an increased rate month-on-month. The honest truth in a cycle like this, if you want a pay rise or promotion you may need to jump ship and join a new company. And there is no shortage of firms who are screaming out to attract people to them right now. Employers are finding candidates rejecting offers at an alarming rate from multiple offers being made simultaneously. Most employers are changing what was an endless multiple interview schedule to a phone screen and one face to face team interview, streamlining the decision process.
Check your skill against indeed.com and salaries against glassdoor.com or salary.com and you get a fair picture for past compensation and current market demand.
As the frenzy builds, make informed decisions by doing due diligence on the company you’re considering. Jumping from a bad situation to potentially worse one usually happens when a candidates has not done enough research. The employer will do a reference check on you – with tools like Linkedin.com, you can do the same on them.
Larry Rubin is currently the Managing Principal of both Talent Partners and IT Services – Engaged Search Consultants and Executive Search.
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Assessment tools in hiring
June 26th, 2010
Hiring the right person for a specific position is one of the biggest challenges in today’s business environment. Acclaimed Author/Researcher Jim Collins presented convincing evidence that supports this challenge in his seminal book “Good to Great” that the most important component of building and sustaining a “high performance organization” is the ability to “get the right people on the bus … get the wrong people off the bus and get the right people in the right seat”
IT Services Engaged Search Consultants knows that having a selection and hiring process in place reduces turnover and increases the productivity and success of employees whose skills and abilities “fit” with the job they are hired to do. The Harvard School of Business reports the following research findings on recruitment and selection success:
- By performing an interview only, you have a 26% success rate of employing your new hire for more than a year.
- Reference checking increases your odds to approximately 43%.
- Testing / assessment escalates your success to 75%.
IT Services uses EEOC compliant assessment tools that help our clients hire the right person for a specific position by using a customized hiring process tailored to our client’s needs, resources and budget.
Our 88% statistic of an IT Services direct hire candidate still being employed where placed three years later is almost 100% higher than the industry norm.
Larry Rubin is the Managing Partner of IT Services and Talent Partners Engaged Search Consultants. http://www.linkedin.com/in/talentpartnersinc
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Making a Counteroffer Successfully
June 11th, 2010
Making a Counteroffer Successfully
Many of my hiring managers have asked me over the years – ‘how can I ensure my counteroffers are successfully accepted? ‘That always begs for the question ‘why do you have the need to make so many counter offers?’ and ‘why aren’t you trying to fix that problem’. Although the managers answers are always different excuses of circumstances beyond their control, our understanding from candidates usually net out the same. The candidate has announced they are leaving because of the lack of feeling appreciated, stagnant career or money. Keep in mind that what candidates tell us in confidence as Retained Recruiters is usually considerably different from what they tell their bosses.
There is a variety of data and statistics showing that employees who decide to accept a counter offer end up getting fired or quit within the year. My personal research of 15 years at IT Services managing 10 Engaged Search Recruiters shows primarily two reasons: Promises made to the employee didn’t transpire and the other being the employee was not perceived loyal from the point of accepting the counteroffer.
Unfortunately, even though the overall economy may be improving, many individual companies may still be operating under a hiring-freeze or a hiring-delay policy. And that can spell disaster for line managers who start losing key staff members to competing organizations that may be better able to participate in the general economic uplift.
If a key employee’s resignation hits your desk and your company is still in a holding pattern on hiring, it may be time to consider the pros and cons of making a counteroffer.
This is not to say that counteroffers should become common practice in the recruitment and selection game. They should not–largely because an employee who has gone through the mental process of deciding to terminate employment may have experienced an attitudinal separation that can’t be overcome readily. Additionally, if word gets out to your other employees, they may use it as a tool to leapfrog their title, responsibilities and compensation.
Appearing to throw dollars at people to keep them aboard once they’ve made a commitment to another employer could be perceived as desperation by the company and–if the counteroffer is accepted–poor career management by the employee.
Moreover, many Engaged or Retained headhunters (vs Contingency) track these statistics and say that most employees who accept counteroffers are gone nonetheless within six months. I have several clients that have agreed to report counteroffer attempts / results and four to eight months is the norm for longevity for employees in the 85 -160K range. In the absence of sincere management intervention, the reasons that an employee decides in the first place to leave an organization usually don’t change or disappear. The additional cash from a counteroffer simply delays the inevitable, and employees who accept counteroffers because of the fear of change or out some misguided sense of loyalty recognize the error of their ways and eventually leave anyway.
In addition, a counteroffer strategy has been made even more challenging by the fact that many employees feel they’ve been treading water in their career for the past three years–in terms of promotions, added responsibilities or significant pay increases.
Yet sometimes a counteroffer may make sense in dealing with employees who have tendered notice. The key lies in knowing how to structure the counteroffer to help the individual reconnect with the organization and gain an opportunity to reinvent his or her job in light of the company’s changing needs.
When it Makes Little Sense to Make a Counteroffer
People typically leave companies either because there’s little or no communication with the supervisor or because the employee senses a lack of appreciation for a job well done. Think about it: Employee dissatisfaction comes in all shapes and sizes, but the myriad reasons fall into one of two categories: communication and recognition. Professionals will always sacrifice money for either of those.
It’s said that employees join companies but leave managers. When that adage applies to a particular situation in your office, you’re best off allowing a resigning employee to leave and get on with his career elsewhere. In such cases, it may be best to leave the headcount unfilled than attempt to convince an unhappy soul to remain aboard. Having many unhappy aboard at the same time becomes contagious and creates an entirely new set of problems for the Manager.
For example, if an employee isolates herself from the group, complains about the company incessantly or has otherwise developed a time-clock mentality or an entitlement attitude, then the resignation may be a welcome event.
That’s easy enough. But what happens when one of your best-performing employees suddenly gives notice? And how is that news compounded by the fact that your company remains in a hiring freeze? A common reaction may sound like this: “What? I had no idea that they were looking for other work. They certainly never said anything to me. I really don’t want them to leave–I can’t bear the thought of refilling their job and having to train a replacement. Worse yet, I may have to do the work myself while we wait for headcount approval.”
If your reason for wanting to counteroffer an employee to stay is solely for your own benefit, then the counteroffer probably won’t work. Even if the individual were to accept a counteroffer, the selfish reason underlying this tactic would show itself in no time. In short, although you may have delayed the individual’s decision to leave, you wouldn’t be in a position to better the individual’s career development in your company because your focus would be on your own needs rather than theirs.
Counteroffers for ‘Keepers’
In contrast, a counteroffer must stem from a genuine concern for your subordinate’s needs. It’s a given that we all take each other for granted when we work together day in and day out, but when someone is ready to breach the employment relationship, special care must be given to the employee’s concerns. Money is important, but it’s less important than individual’s perceptions of their own career growth and development.
Here’s how you might initiate a counteroffer discussion:
“John, I was so surprised to hear that you’re considering leaving us after three years. You joined us in 2007 just as the economy was beginning to tank, and there have been so few opportunities available internally. We haven’t been able to promote people, make market equity adjustments to their pay, or otherwise find concrete ways to reward our key employees. But I want you to know that you are indeed a key employee. The management team in our department considers you a ‘keeper’, and we certainly would do whatever we could to make you happy and have you grow with us.
“I respect the fact that you may ultimately decide to leave us and take your chances of finding greener pastures elsewhere, but I’d like to ask what prompted you to consider looking elsewhere. Also, if you wouldn’t mind, would you share some of the specifics regarding your proposed title and salary? I’d like to know what we’re up against.”
After listening to the employee’s explanation, continue this way:
“I can’t make any promises to you during this meeting; this is simply meant to be a fact-finding mission for now. Still, it’s important for me to relay to you, on behalf of the management team, that we’d like the chance to provide you with some of those same opportunities at our company. Now that the economy is gaining momentum, we expect our revenues and profit margins to rise, and that would allow us to grow and develop our key contributors. Let me share this with you: I recognize that this is about more than money, but if we were able to match your proposed salary, title and/or new responsibilities, we’d like you to consider remaining on board.
“I’d really like to find out if there’s a chance of salvaging our employment relationship. Even though I can’t promise anything at this point, I’d hope that you would consider allowing us to explore this avenue with you.
“If we can’t develop an overall career development strategy and growth path that would motivate you to stay with us, then we’ll certainly support your transition to the new firm. After all, losing key employees isn’t ever fun, but we’re always happy to see people developing their careers and facing new challenges.
“On the other hand, I may be able to ‘play HR’ in your case and carve out a path to newer responsibilities within the organization. Would you be willing to engage in those discussions with us?”
Such an honest and selfless approach to counteroffer discussions will almost always be met with flattered acceptance. After all, the employee will understand that your company sees the bigger picture of career rather than the immediate lure of money. This broader approach to career building will also help your company avoid the No. 1 error that organizations make when engaging in counteroffers: assuming that money alone is the issue.
Many a disgruntled “counterofferee” has walked away from a current employer’s insincere attempts at keeping the individual on payroll, concluding: “They just don’t get it. Why are they throwing money at me now? If I’m that good, they should have offered me that money two years ago. They always cry broke, but all of a sudden they can find $15,000 in the budget to get me to stay. No thanks.”
Making Acceptance A Step Toward Success
Your counteroffer proposal probably won’t meet the terms of the external company’s offer. Either you won’t have enough cash to bridge the gap, or your internal equity matrix wouldn’t let you award the salary increase even if you had the money in your budget, or a promotional title increase won’t be available until someone else in the organization leaves and frees up the headcount. In the context of such restrictions, you’ll need to structure your counteroffer more creatively and include other benefits that the individual may not be thinking about. For example:
“John, I’m happy that you’re willing to allow us to explore a counteroffer with you in order to keep you aboard. We’ve looked at the opportunity that you’ve been given by XYZ Company, and we’d like to discuss some of the ideas that we’ve come up with.
“First, I just wanted to let you know that I’m sorry if I’ve let you down. I never meant to take you for granted or fail to recognize your contributions to our department. That may have been how you interpreted things in light of the economic challenges that our company, like all other companies, has been facing, but that was certainly never my intention. Second, we can’t match everything that XYZ Company is offering you. I need to tell you that up front. Based on what you’ve told me, they’re offering you a director title at $125,000 a year with a staff of six. If you remain with us, you would have to retain your current manager title, we could raise your salary from $107,000 to $115,000 without breaching any of our internal equity guidelines, and we could reassign one headcount to bring your staff up to a total of four people.
“In addition, we would consider enrolling you in a graduate-level two-year marketing certificate program at the company’s expense as well as assigning you to the corporate office in Boston for two one-week trips next year. This way, you’d get to know personally the people that you spend so much time with over the phone and maybe open a communication channel that could lead to a job opportunity at the headquarters office in the future.
“And don’t forget: As a three-year employee, you’re only two years away from being fully vested in your 401(k) as well as the company’s defined benefit pension plan. Of course, you’ll have our commitment that as any internal opportunities surface, you’ll be the first in line for consideration.
“We would politely ask that you think about this, discuss it at home with your family or significant other, and then get back to us in a day or so.
“What are your thoughts?”
A Professional Approach
With such a respectful, selfless and well-thought-out counteroffer strategy lined up, you’ll no doubt have a chance at retaining this individual. Even if you’re not successful, word will get out that you handled the matter professionally; that you put the individual’s career interests above your own needs and a departing employee will likely not intentionally harm you or your organization as they move on.
The outcome may be beyond your control; the strategy that you employ, however, will make you feel good personally and distinguish you as a true leader within your company.
As the economy picks up, your organization will no doubt feel the pinch of the revolving door. Expect it and, more important, be prepared to execute a strategy to keep your key players in place. As a matter of fact, you might want to take the time now to consider who those key players are and then run through a table-top exercise of what your company would do to keep them should they ever give notice.
You might even find that a proactive conversation about an individual’s career needs at this point–before anyone gives notice or threatens to leave–could help you fend off the counteroffer dilemma in the first place.
Larry Rubin is currently the Managing Principal of both Talent Partners and IT Services – Engaged Search Consultants and Executive Search.
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Evaluating the Job Offer – part 4 of 4
May 31st, 2010
Accepting the Offer
If everything about the new position is satisfactory, go ahead and accept the offer. If you’re expecting an offer from a second company, you should let the second company know about your offer right away, so they can speed up their decision. That way, you’ll avoid jeopardizing one deal for the sake of another.
Once an offer’s on the table, it makes common sense to accept or reject it within a day or weekend . Otherwise, your inability to commit will reflect poorly on the way you make decisions; or it will telegraph your lack of enthusiasm to the new employer. In either case, you’re likely to be bruised by waiting too long.
If you have legitimate concerns, or you still have questions that need to be answered, now is the time to bring them up. Rather than tell the employer, “I’ll have to think it over,” use the following script:
“Mr. Employer, this job looks very good to me, and I’m enthusiastic about coming to work for your company. I’ll be in a position to accept your offer and start in two weeks if I can just clarify a couple of things…”
The answers you get will make your decision for you, and you’ll either accept or reject the company’s offer.
If you decide to reject an offer, remember that it’s almost impossible to resurrect the deal at a later date, since the position will be offered to someone else, or the employer will feel insulted, and close the door on your candidacy. Whatever you do, make certain your decision is final.
New Angles and Unusual Deals
Most deals come together quite cleanly, with little need for haggling or creative financing. Sometimes, though, it takes a little imagination to satisfy both parties.
Money can present a problem for employers when your salary requirements exceed the published range for the position, or create an inequity within the department. In fact, internal equity issues (in which your expected salary might be greater than someone on the staff who has more professional or company seniority) are the cause of most deals that fail to close for financial reasons.
To satisfy money matters, look for ways to increase your overall yearly compensation, rather than your annual salary. Here are a few added goodies you can shoot for to boost your earnings without ruffling too many feathers:
A sign-on bonus (although rare currently) to be paid in cash on your date of start;
A performance bonus to be paid after thirty, sixty, or ninety days, assuming your clearly defined goals are met;
A discretionary bonus to be paid in a lump sum, or over a specified period;
A generous relocation bonus to be paid on your date of start to cover expenses (but which can be spent at your discretion);
An accelerated review which would occur after three or six months, rather than on your first anniversary of employment, in which your salary would be increased; or
An early participation in the company’s bonus, stock purchase, or pension plan; or other employee benefit program.
When required, companies will sometimes serve up these tasty morsels to hungry candidates who recognize that overall compensation consists of more than salary alone - where there’s a will, there’s a way.
Careful evaluation mixed with a little bit of creativity and professionalism will help you get the deal you want.
Position Comparison Guide
Directions: Compare the position you have now with the one you are considering, according to the following elements:
Current job New job Element under consideration
[ ] [ ] Position title
[ ] [ ] Supervisory responsibility
[ ] [ ] Project authority
[ ] [ ] Decision-making autonomy
[ ] [ ] Freedom to implement ideas
[ ] [ ] Freedom to affect change
[ ] [ ] Promotion potential
[ ] [ ] Challenge of tasks
[ ] [ ] Ability to meet expectations
[ ] [ ] Access to skill training
[ ] [ ] Professional growth potential
[ ] [ ] Company/industry growth
[ ] [ ] Company/industry stability
[ ] [ ] Starting salary
[ ] [ ] Future compensation
[ ] [ ] Company benefits, perks
[ ] [ ] Commuting distance
[ ] [ ] Travel requirements
[ ] [ ] Working environment
[ ] [ ] Rapport with co-workers
[ ] [ ] Rapport with management
[ ] [ ] Comfort with corporate culture
[ ] [ ] Other considerations (specify)
Score: Current job ____________ New job ____________
New job differential (+/-) ____________
Position Compensation Guide
Directions: Compare the position you have now with the one you are considering,
according to the following elements:
Current job New job Element under consideration
$________________$________________ Base salary
$________________$________________ Bonus, perks
$________________$________________ Profit sharing potential
$________________$________________ Value of stock or equity
$________________$________________ Pension
$________________$________________ 401(k) contribution, tax savings
$________________$________________ Reimbursed expenses
$________________$________________ Cost of living differential (+/-)
$________________$________________ Non-reimbursed moving expenses
$________________$________________ Job-related travel expenses
$________________$________________ Insurance premiums
$________________$________________ Property taxes
$________________$________________ State taxes
$________________$________________ Sales taxes
________________$________________ Other expenses (specify)
Current job $________________ New job $________________
New job differential (+/-) $________________
Question? find me at http://www.linkedin.com/in/talentpartnersinc
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Evaluating the Job Offer – part 3 of 4
May 26th, 2010
Lay Your Cards on the Table
Once the bottom line is known, you can avoid the haggling that so often causes aggravation, disappointment, or hurt feelings.
My 15+ years of recruiting experience has shown that it’s much better to lay your cards on the table in the beginning than to barter to get what you want. An employer can get very irritable when a candidate says, “I’ll think it over,” or keeps coming back with new demands again and again. Even if you get what you want, you’ve created a negative impression with the company which will carry over after you’ve been hired. In effect, you may win the battle, but lose the war.
By determining your own acceptance conditions in advance, you’ll never be accused of negotiating in bad faith or of being indecisive. Whether you’re representing yourself or working with a recruiter, learning to differentiate between financial fact and fantasy will facilitate the job changing process.
You may want to itemize your bottom line, and, if it’s appropriate, show it to the company (or your recruiter) as a means to justify your salary request. Carefully figure your total package, and document any loss of income that may result from a differential in benefits, geographic location, car expenses, and the like.
If a recruiter asks for your bottom line, he or she isn’t trying to manipulate you or conspire with an employer that plans to “lowball ” its candidates. The recruiter is simply making a good faith effort to discover what makes you happy, and put together two interested parties.
The Detailed Approach
Of course, there are considerations aside from money that usually need to be satisfied before an offer can be accepted. Factors such as your new position title, review periods, work schedule, vacation allotment, and promotion opportunities are important, and should be looked at carefully.
To understand the candidate’s needs, we use the detailed approach to quantify each consideration or “point” made by the candidate as a condition for acceptance. Once we understand each point, we can work with the company to put the deal together, without having to go back later to get “one more thing.”
Once you know your bottom line and each condition, or point, you’re in a better position to get what you want, since you’ve established quantifiable goals to shoot for.
How an Offer Is Staged
Every company makes hiring decisions differently. Some will encourage shoot-from-the-hip managers to make job offers on the spot. Other companies will limit the decision maker’s ability to act quickly and unilaterally, and require a drawn-out series of staff meetings, subsequent interviews, corporate signatures, and so on.
These days, it’s not uncommon for the hiring cycle to last weeks or even months, regardless of how “critical” the position might be. The best approach is to maintain contact with the company, allowing for the fact that there’ll probably be some delay. Presumably, you asked what the hiring procedure was when you first interviewed. Their answer should give you some indication as to when a decision will be made.
Offers can be extended by either a letter, or verbally from a hiring manager. They can also be made through a third party, such as a recruiter. In either case, be careful. An offer needs to include these three components before it can be considered official:
- [1] Your position title;
- [2] Your starting salary; and
- [3] Your start date.
Before you resign from your present job, make sure you nail down each of these components from a company official, either verbally or in writing (in the form of an offer letter). Even if the offer comes through a recruiter, you should always contact the employer directly, and if possible, get a letter of offer or acceptance to verify the deal (although a verbal offer and acceptance will act as a legal contract).
Not long ago, I was working with a candidate who interviewed for a position with one of my client companies. The interview went extremely well; so well that the HR of the company called the candidate at his home that evening to discuss the offer.
“Well, Paul, we really like you,” the employer told the candidate. “The job is yours if you want it.”
“I want it,” said Paul. “When do I start?”
“Well, I’ll call Bill tomorrow and work out the details,” replied the employer.
Understandably, Paul got excited. Filled with pride, he drove his ailing grandmother by the new company the next day, so he could show off his new place of work.
But guess what? The employer never called me, and never called Paul, either. For some reason he changed his mind, and didn’t have the decency to let anyone know.
The reason we tell this story is to warn you that even when the cat seems to be in the bag, it’s not over until all the details are worked out. An offer has to include a position title, a starting salary, and a date of start to be official; just telling you the job is yours isn’t enough.
Here’s another word of caution: Offers sometimes have strings, or contingencies attached. Don’t be surprised if the fine print requires you to:
- Pass a physical examination;
- Document your citizenship or immigration status;
- Obtain a security clearance;
- Undergo a thorough background investigation, in which your credit history, police records, and travel history might be examined;
- Verify your academic credentials; or
- Provide proof of your past employment, salary, or military service.
Very often, these contingencies must be satisfied before you can to report to work or receive a paycheck.
Questions? find me at http://www.linkedin.com/in/talentpartnersinc
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Matching Talent to the Job!
May 23rd, 2010
The right talent in the right job equals top performance and employee satisfaction, which is exactly what every company wants! After completing the job benchmark and defining talent key performance indicators (KPI’s), you have competencies and attributes that are key to finding the best candidate – the right fit – for the job. Next, you can compare and match the job’s required behaviors and rewards/culture (motivators) to a candidate’s ideal behaviors and motivators. Assuming the candidate has the necessary hard skills (education, experience, etc.) you have the objective information you need to make the best decisions on hiring top talent.
The reason for doing job benchmark assessments is to compare your current employees and all job candidates to the benchmark. Assessing employees’ and candidates’ behaviors and values is crucial to determining if they’re a good fit for the position. Employee assessments and job/talent comparison assessments will show you exactly which candidates are right for the job. Hire only those who match the benchmark assessments and you’ll have a team of superior performers.
Questions? find me at http://www.linkedin.com/in/talentpartnersinc
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Evaluating the Job Offer – part 2 of 4
May 23rd, 2010
The Economic Factor
Compensation, of course, will be a key factor in your decision whether to accept a new position.
Oddly, few people take the time to really understand their economic choices, mostly because there are so many hidden factors, such as cost of living, benefits, relocation expenses, and so forth.
Regardless of where compensation ranks on your list of priorities, it’s a good idea to know what you may be getting into when faced with a career decision.
To help you put your economic choices into perspective, use this compensation comparison to evaluate both your prospective compensation package and what you’re currently earning.
The best time to make your calculations is before an offer is made. That way, you can form a clear idea of what you’ll need, without having to dicker (or experience shock) later on.
If you’re looking at an opportunity that’s in a different geographic location, you might want to do some investigating before you even interview. For example, if you live in a nice suburban community in Upstate, New York, what would it cost you to maintain your current lifestyle in an area like Boston? Your answer (and your willingness to make the necessary trade-offs) will help determine your level of interest when considering the new position.
Figuring the Bottom Line
The best approach to putting the deal together is to decide whether you want the job before an offer is extended. This allows you to clarify whether the job suits your needs. Unless you’re motivated solely by money, it’s doubtful a few extra dollars will turn a bad job into a good one.
If the job interests you, then determine the conditions under which you’ll accept. These fall into two categories: Bottom Lines and Porcupines.
The term bottom line refers to the amount of compensation you feel is absolutely necessary to accept the job offer. If, for example, you really want $116,000 but would think about $112,000 or settle for $108,000, then you haven’t established your bottom line. The bottom line is one dollar more than the figure you would positively walk away from. Setting a bottom line clarifies your sense of worth, and helps avoid an unpredictable bargaining session.
I recommend against “negotiating” an offer in the classic sense, where the company makes a proposal, you counter it, they counter your counter, and so on. While this type of tit for tat format may be customary for negotiating a residential real estate deal, job offers should be handled in a more straightforward manner.
Here’s how: Determine your bottom line in advance, and wait for the offer. If the company offers you more than your bottom line, great. If they offer you less, then you have the option of turning the offer down or revealing to them your bottom line as a condition of acceptance. At that point, they can raise the ante or walk away. Part 3 next Monday
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Evaluating the Job Offer
May 23rd, 2010
Evaluating the Job Offer -Part 1 0f 4
Let’s assume your employment interview went well, and there’s sincere and mutual interest on both sides. Now you need to decide two things: (1) whether the new position is right for you; and (2) if so, what sort of offer you’d be willing to accept. To evaluate the pros and cons, ask yourself the following: Does the new job meet the criteria you spelled out when you first began your search? Will the new job improve your level of personal and professional satisfaction? Or will it simply offer you a rehash of what you already have? Hopefully, the unique qualities you’re seeking will be within your grasp. Part 2 to follow next Monday…
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Career or Job
May 23rd, 2010
If you have to work 60% of every week day, why not make it a career instead of a job?
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