Is now a good time to be looking for a new job — With the cost-of-living crisis about to go nuclear – should you stay, or should you go?
With the costs of living crisis, is now a good time to be looking for a new job? Here are some things to be considering when making your decision.
National Statistics says that 91% of adults in Great Britain reported an increase in their cost of living between June and July 2022, which has led to an increase in people seeking new employment or being ‘open’ to discussing their career situation.
Here are some of the things to consider when looking for a new job…
- Opportunity.
The ultimate catalyst for a career change. It might be within your current business or another but missing out on opportunities can sting – and hinder your development in more ways than one. Companies are hiring, unemployment is low and due to various economic factors, the job market is currently in a war of talent!
- Growth
Plateauing in your role for some time? Most roles or even businesses have a lifecycle and when there’s no longer a chance to grow, be challenged, or learn new skills, it could be time to move on. Growth is significant for self-motivation, not only for personal development but also performance improvement and to stay engaged with work.
- Salary (+ benefits).
A salary package isn’t only about how much money you make, it’s a reflection of how you are valued and respected in the workplace. If your financial needs aren’t being met, and there’s no room for negotiation, then there are good packages to be found elsewhere to attract the right talent. While salary isn’t everything – the Jabra Hybrid Ways of Working: 2021 Global Report, which surveyed 5,000 workers in the UK, France, Germany, Japan and the US, found that 59% of respondents said flexibility is more important than salary and other benefits – it is still very high up on the list of most people’s agendas, especially with the news that inflation will remain above 9% into early 2023.
- Industry.
Many sectors are seeing exponential growth for very specific skills right now. It’s no secret that UK engineering and manufacturing are suffering a massive skills shortage. While open positions remain unfilled in many sectors, a report by Search Consultancy found that the engineering and manufacturing industry is the worst affected with 85% of businesses currently feeling the strain from a lack of skilled workers.
- Culture.
It’s something we all talk about, but many companies still aren’t getting right. It comes down to a host of factors, but it boils down to being in a positive environment which can sustain, engage, and encourage you – it’s the people, the trust, the autonomy, and flexibility to enable you to do a great job. You might even find yourself a role with a little more holiday time!
