Risks of moving companies
Discussion
Chartered engineer. 35yo. 11 years in current multinational company. Senior engineer position. Interviewing for another equally large company. Reasons aren't really relevant (I think I'll have better future prospects) but wondering in general the risks of moving companies.
My current job is stable. I'm highly regarded. Got a solid pension. Pay is good. Just fed up and frustrated by the direction the company is going and the last few years.
New job is same grade but seemingly more opportunities. ~10% more pay (not important to me really). Good pension (is important). Potentially better work life balance.
Just nervous about jumping company and being first on chopping block if cuts there are needed....
My current job is stable. I'm highly regarded. Got a solid pension. Pay is good. Just fed up and frustrated by the direction the company is going and the last few years.
New job is same grade but seemingly more opportunities. ~10% more pay (not important to me really). Good pension (is important). Potentially better work life balance.
Just nervous about jumping company and being first on chopping block if cuts there are needed....
'Last in, first out' as a pure policy isn't really a thing in my experience, at least in decent companies. Especially in this recruitment market, people value quality and reliability.
The problem is that as a newbie, you are cheapest to let go. If cut backs are needed as a result of a (potentially) impending recession, your redundancy value is pretty much nil.
One of our managers left 12 months ago to a rival - better job, more money. They've apparently done well but the company is now cutting back roles and they are out with just their notice pay. That's scary if opportunities in your line of work are limited.
But, nothing ventured, nothing gained. If we all didn't take jobs in case we got made redundant then no-one would change jobs.
If you feel confident that the industry and the company is stable, roll the dice.
The problem is that as a newbie, you are cheapest to let go. If cut backs are needed as a result of a (potentially) impending recession, your redundancy value is pretty much nil.
One of our managers left 12 months ago to a rival - better job, more money. They've apparently done well but the company is now cutting back roles and they are out with just their notice pay. That's scary if opportunities in your line of work are limited.
But, nothing ventured, nothing gained. If we all didn't take jobs in case we got made redundant then no-one would change jobs.
If you feel confident that the industry and the company is stable, roll the dice.
2 sMoKiN bArReLs said:
GroundEffect said:
Potentially better work life balance.
That's the tempter. But, potentially? Might work out worse.Better the devil you know maybe.
The new company has just turned record profits. You might be able to work it out.
Potentially better work/life? I'd want assurances of some kind I think as otherwise you may be in the same boat just under a different captain.. Also consider that you have few employment rights under 2 years whereas at your current place, a redundancy should see you get almost 12 weeks of money (up to the weekly cap mind but still)..
But I would try it !!
But I would try it !!
GroundEffect said:
2 sMoKiN bArReLs said:
GroundEffect said:
Potentially better work life balance.
That's the tempter. But, potentially? Might work out worse.Better the devil you know maybe.
The new company has just turned record profits. You might be able to work it out.
OP - I was in your position 20 months ago… got offered a chance to move, I fancied the change of scene etc. Last summer after 14 months in role, regional cutbacks and I’m out. Thankfully with 3 months notice, and I’m starting a new place in a couple of weeks, so missed 2 months pay basically. Would I do it again? Yes probably, the reasons I left remain the same and I didn’t try to get back to my previous employer. If it all goes boobs up then you have plenty experience to fall back on.
Do you know any current employees? They're the ones that will tell you the truth.
I know people at most automotive related companies in the UK but not sure which company you're talking about.
If it's JLR (probably not as I don't think their current profits are "record", more "black again") I would tread carefully as there's a massive range of "real life" from people who are massively underworked to those that are completely overloaded with bosses that (literally) shout at them.
I know people at most automotive related companies in the UK but not sure which company you're talking about.
If it's JLR (probably not as I don't think their current profits are "record", more "black again") I would tread carefully as there's a massive range of "real life" from people who are massively underworked to those that are completely overloaded with bosses that (literally) shout at them.
The longer you work somewhere the scarier the idea of moving is.
I'm 18 years in and actually pretty happy - I've had several roles in those 18 years, managed teams of people, jumped at the right time to new opportunities internally and have ended up on my "dream" role - I basically get to do what I want most of the time due to my track record of delivering, with zero interference from my boss.
People who have left tell me that the stuff we take for granted - good training, exposure to massive project, empowerment make moving to a new company fairly easy, so I'd have no fears. If you have confidence in your abilities do what you think is best for you I doubt you will regret it - don't let how comfortable you have become prevent you from taking an exciting new opportunity
I'm 18 years in and actually pretty happy - I've had several roles in those 18 years, managed teams of people, jumped at the right time to new opportunities internally and have ended up on my "dream" role - I basically get to do what I want most of the time due to my track record of delivering, with zero interference from my boss.
People who have left tell me that the stuff we take for granted - good training, exposure to massive project, empowerment make moving to a new company fairly easy, so I'd have no fears. If you have confidence in your abilities do what you think is best for you I doubt you will regret it - don't let how comfortable you have become prevent you from taking an exciting new opportunity
blank said:
Do you know any current employees? They're the ones that will tell you the truth.
I know people at most automotive related companies in the UK but not sure which company you're talking about.
If it's JLR (probably not as I don't think their current profits are "record", more "black again") I would tread carefully as there's a massive range of "real life" from people who are massively underworked to those that are completely overloaded with bosses that (literally) shout at them.
It's in the automotive field, but not an auto maker. I know people at most automotive related companies in the UK but not sure which company you're talking about.
If it's JLR (probably not as I don't think their current profits are "record", more "black again") I would tread carefully as there's a massive range of "real life" from people who are massively underworked to those that are completely overloaded with bosses that (literally) shout at them.
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