November 10, 2009
Due Diligence and the Job Offer: More Than Salary and Benefits
Success! I have received a job offer from one of the two firms I have been interviewing with. The offer is reasonable in terms of salary and bonus, but, of course, there is more at stake than the total compensation package.
So begins due diligence, part two, where I really take a look under the hood of this company.
The Firm’s Well-Being
Let’s start with my concern about the firm’s technical commitment and support. While waiting in the firm’s lobby for my final interview, I couldn’t help but overhear current employees complain about malfunctioning or non-existent computers. Hopefully, new hires receive new computers.
When I was originally researching this company, I discovered their involvement in a significant patent lawsuit. Perhaps this is the norm in their industry, but how often does a patent issue get escalated to a state Supreme Court? That seems unusual to me for what appears to be an otherwise solid manufacturing firm.
There are bigger picture questions that linger in my mind, too. In particular, a number of skilled folks recently departed the firm in a voluntary downsizing. According to my sources, some of those depleted departments are being “held together with duct tape.” Ironically, the human resources department suffered a 100% voluntary reduction in force. So what motivated many of the key people in this economic downturn to voluntarily leave their jobs? Is there something more at work here?
No job offer analysis would be complete without taking a hard look at the health insurance benefits. At first blush, it appears there is no dental coverage. Doesn’t the firm care about the whole health of its employees? Despite the fact that I have seen more impressive company-sponsored healthcare plans, it is better than paying through COBRA for coverage.
Perhaps I have been spoiled by past employers who provided both short- and long-term disability. With this firm, I can elect to buy into group long-term disability, but strangely short-term disability coverage is not offered. Fortunately, I am in good health so I don't anticipate the need for any such insurance coverage. But Murphy's Law is always at play.
My Career Advancement
Finally, the intangible: The prospect of no real professional development. While I am grateful to have this job offer letter in hand, I have to consider that this may not be a linear progression at this stage of my career. But since it’s only a niggling factor, perhaps it’s best to ignore it and just get on with my life and new routine.
If you were considering a job offer, what would you want to uncover about your new prospective employer and job?
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It is always a dilemma when you want to leave your current job and the new offer isn't that promising. If you don't have a job now, you have nothing to loss. If you have to quit your current job to take this new offer, I'm afraid it could be a little risky. You do need some motivation to start a new job.
Posted by: anna | Nov 12, 2009 3:10:51 AM
Hey Useful Stuff. If you are looking for a good career don't get afraid make your career plan simple and clear. Cheers.
Posted by: Morren | Nov 18, 2009 1:06:29 AM
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