A job change is a very serious decision in life. A job offer needs to be properly understood and reviewed. I am concerned that many job seekers are only bothered about their take home salary. However the decision to join an organization should be made on many critical parameters.
The scope of this document is to help, professionals, understand, components of a job offer, to help them make conscious and careful decisions.
I also take the liberty of adding a note to the job seeker or the job applicant, on the clarity needed in communicating the decision to accept or refuse the offer. This goes a long way in not only enhancing the applicant's credibility but helps the hiring organization to look for alternate resource without affecting their fortunes.
An offer is made when there is an alignment and synchronization of expectation of the Applicant and the hiring organization on the following parameters:
1. Role
2. Designation
3. Work location
4. Compensation
5. Time to join
Elements of an offer
Understanding an Offer
An offer may not just be the salary that is being offered.
The scope for learning and growth associated with the role that is being offered may be an important factor to consider the offer . This has a high impact on the future career growth.
Another critical ingredient is the area of the work that is being offered. It is important to understand how that particular area fits into the overall strategic directions of that organization,
The Company's brand, the sustenance, growth potential and prospects of the Industry, the core values of the organization and how they are perceived in the market are also important considerations.
The quality of the leadership at workplace and the quality of the co-workers are equally important considerations, while considering a job offer.
The offer has monthly components, yearly components, like leave travel assistance, statutory components like provident fund, gratuity and superannuation.
The offer could have benefits like health care for the applicant/family and perquisites like maintenance of car, driver, club membership etc.
Employee stock options could also be an important and attractive component of the offer.
Many companies could have attractive loan schemes.
The location of the company, the distance involved and time consumed in day to day travel could also be a significant components of the offer.
The time off/leave available every year has an important bearing on the offer.
Does the role require overseas travel? Does it require frequent travel? Overseas travel could be short term or long term. This could be an attractive financial reward. On the contrary frequent short term travel overseas or otherwise could affect the lives of applicants who are married.
This list is by no means exhaustive. The job seeker or the job applicant may come up with additional points and consider the attractiveness of the offer in totality before making a decision.
Communicating the decision
Any company that makes an offer is conscious that all the offers that it makes may not be accepted.
Therefore most companies may not be surprised if the job seeker or job applicant does not accept the offer.
If the job seeker or job applicant is not happy with the offer he or she must unambiguously express the same and seek clarity from the hiring organization if the hiring organization can match their expectations.
If clarity is provided, and the job seeker is still not happy, the job seeker must explicitly communicate, displeasure and unwillingness to accept the offer.
If the offer is not satisfactory, the job seeker will do well to communicate, non-acceptance of the offer as soon as possible.
Non-acceptance of an offer must be communicated as soon as possible. The earlier the better. This not only enhances a job seeker's credibility but also helps the hiring organization look for alternates.
Backing out in the last minute can cause serious embarrassment to the hiring organization and sometimes irreparable damage to their credibility and business fortunes.
Using an offer to seek internal promotions in existing organizations and shop for better offers, is a regrettable and avoidable activity.
