Time for a career change?-M Hariharan

There is a right time for everything. There is also a right time to make a successful career change. A few years ago, a major study was conducted with MBA students, to determine if it was better to change jobs every few years to take on better and bigger roles, or to stay with one company and be promoted by climbing the career ladder. The study concluded that there was no significantly preferred option. Selecting the right company and the right industry is critical.

As part of my career coaching practice, I work with interesting people that are at crossroads in their careers, exploring a change after rigorous and honest self-assessment, with the motivation to explore career path choices to further develop and grow their career.

There are five important reasons to consider moving on to a new role:

You are not growing
In today’s competitive world it is vital to have new skills to ensure you keep developing as a professional. If you haven’t been on a training course or conference during the last couple of years, you need to assess as to whether you are giving more than you are taking. Doing a self-assessment will indicate as to whether it is time for you to move into a new role.

The company is not growing
There are two types of companies – those that are growing and those that are slowly dying. A few weeks ago, I had a meeting with the Senior VP of an international company that is number two in the world in their space. They are consistently growing at a rate of 25 percent per year – about half of it is through organic growth, with very selective and strategic acquisitions adding new growth.

The industry is not growing
I worked in the carpet industry for many years and while it is not the most glamorous industry, it was still growing by 2 percent per year. Part of it was as result of bigger homes, part as result of a growing population. A lot of consolidation is taking place in industries, due to excess capacity. In tough economic times certain industries are struggling more, such as luxury goods and services, recruiting and investment banking.

You have been in the same role for too long
There may be various signs indicating that you are getting too comfortable in your current role. The budget becomes a quick update from last year, the projects all look too familiar and there is nothing exciting to add to your CV. In fact, you are in a groove and it all feels as comfortable as your slippers. The best thing you can do is to explore other opportunities, to ensure you are being at market rate and that you are not missing out on potential promotions.

You are not being valued
Years ago I resigned from a company and while doing a handover discovered a proposal I submitted to the CEO twelve months earlier. It was clear validation that I have outgrown the business and was no longer being valued. The proposal was still as relevant when first submitted, but there was a lack of management support for new ideas.

Life is too short to be in a role where you are just treading water. Any swimmer will know that it is not a very effective way to make progress towards your destination. There are some excellent tools in the WorkLifeGroup career development kit that will assist you in exploring career options.