Evaluate Your Current Role
Obtaining a higher salary is at the forefront of the minds of Singaporean employees right now. After all, costs of essential household expenses such as rent and fuel have been steadily increasing—yet wage growth is failing to keep up.
According to an Indeed survey conducted in 2022, 60% of employees in Singapore have not received a pay raise since 2021. Furthermore, in partnership with Rakuten Insight Global, Reeracoen also found that more than half of the survey respondents are or will be seeking new employment.
You are most likely gearing up for your performance appraisal soon, in which case you may be due for a pay raise. But what if you don’t get that raise you desire right now?
Despite its central importance, the remuneration you receive is not your sole consideration. There are numerous other non-monetary factors which may impact your decision to stay put in your company or leave. We have prepared a series of thought-provoking questions to help you evaluate your current role:
1. How long have you been with your company?
The length of time you have spent at your present job is the first crucial factor to consider. If you’ve been with your company less than one or two years, it is wise to stay past the two-year mark (barring any extenuating circumstances). This is so that you will not be negatively labelled as a flaky job-hopper.
On the other hand, staying too long in one company can also be detrimental to your career progression. If you’ve been with your company for more than three years—and you have not been given any pay raises or promotions—you should consider moving on.
2. Are you given avenues to develop your capabilities at work?
The second factor is with regards to your professional development. Besides allowing you to make the most of your expertise, the ideal position will provide numerous opportunities to expand your skillsets on the job. Such opportunities can come in the form of challenging tasks; for instance, you may be appointed to spearhead an internal initiative.
Thus, it is a good sign if your current role stretches you beyond your comfort zone. Instead of seeing these responsibilities as stressors, view them as avenues by which you can develop your professional capabilities. Being stuck in a dead-end job with no career advancement opportunity is far worse!
3. Have you been supported by your manager and colleagues?
The third factor pertains to your relationships at work, particularly your manager as well as team members. An ideal work environment is one where you are treated with dignity and respect by your colleagues—not to mention, recognised for your contributions to the team.
The people you work with on a daily basis have a direct impact on your happiness levels at work. Do your colleagues genuinely care about you as a person? Are you regularly praised by your manager for doing good work? If yes, it may be worth staying at your current role—excellent work relationships founded on trust can be hard to come by.
4. Is your company culture a good fit for you?
The last factor concerns your company culture and whether it is a good fit for you. Even though company culture is intangible, it permeates into every facet of the organisation.
It is about how much your company’s core values are reflected in day-to-day procedures—and to what extent they are honoured by the management. For example, is your company strongly committed to building a diverse and inclusive workplace, with solid diversity and inclusion initiatives in place?
Take this opportunity at the start of this New Year to pause and examine your career trajectory!
Seeking your next career move?