What would you do with a 10% pay rise?

As we reach a time when it’s becoming increasingly important to be adaptable—to have resilience and confidence during change—recent research from the Resolution Foundation suggests that the best way to see your income growing faster than the cost of living is to change jobs. The analysis of the ‘disloyalty bonus’ in this article uses this finding to put it in the context of one’s willingness to take the opportunity for getting a 10% pay rise.

 

The article states that “only three percent of people voluntarily switched jobs last year”, and that this is even more pronounced amongst younger workers, where only one in 20 aged under 30 moves jobs each year.

 

In explaining this, a cited example of someone in his mid 20s is used. He says:

 

“To go out and be like the new kid in school… you may not be as good as you think you are. You do kind of pigeon-hole yourself: this is what I can do, I’m good at this, why take that risk? Granted, nine times out of ten it will probably pay off but it’s having the confidence to leave behind what you know.”

 

 

Let’s have a look at how we might be able to frame this differently so more people can feel comfortable with breaking out of their comfort-zone, be confident with change, and realise their full potential.

 

 

Know yourself better

First, knowing and accepting yourself is critical. There are many tools that can help with this. Stay Nimble has a number of different tools available that help highlight your Strength Profile, as we  call it. You can get started today on this and takes about 20 minutes of your time. We’ve also got a series of hint and tips that you can start with today, even without signing up.

 

 

Know your environment.

Employment in local areas is constantly changing. New opportunities arise every day, and your search via traditional job boards won’t always find the new types of work that you are perfectly capable of doing. Anecdotal information from your friends down the pub won’t always give you the complete picture either. Stay Nimble now covers the entire UK with data concerning local job market trends so you instantly know the new occupations, employers, and skills required to make a change. When you know your environment, you can step forward more confidently into change.

 

 

Confidence is worth investing in

As our friends at Planet K2 say: “don’t leave your confidence to chance”. This is a really important muscle to be continually tending to, strengthening, and using. A critical element of this is understanding what fuels your own confidence, and what you can do to build it. This free tool offered by Planet K2 gives you a great basis for starting work on this.

 

 

It’s not as hard as it seems

Change without a plan or a path is hard. It’s daunting. However, maybe think in these terms:

 

You’re about to set off on a trip. Even the most anarchic folks amongst us will have an idea of the plan. Some of us will even have a minute by minute itinerary. Tackling a change to your work is much the same. Get a plan—one that works for you, individually. You can use Stay Nimble to give you some inspiration on a variety of potential destinations. We’ll also tell you what’s needed (i.e. skills) to navigate successfully to each of these destinations (i.e. new occupations you’re interested in) from your starting point. And if you need to learn something new, we’ll even make it easy for you to find where you can learn these new skills. Think of us as Waze for your career.

 

We know the admin of change is often the first thing that holds back action. So we’re bringing together everything you need to keep reinventing yourself; all under one roof. We’re here to make it easier to plan your next move so you can focus on being prepared to change. The preparation is what we call Career Fitness.

 

 

Stay the course

Recognise the stages of achieving the outcome you’re looking for.

 

  • Be committed.

You will do this. Set a goal and try to visualise it. Make sure you are actually ready. With our Planet K2 friends, we can help you be ready. What would you do with a 10% pay rise?

 

  • Investigate, explore, understand.

You have the resources to do this on Stay Nimble. Assess your options, identify the different paths available to you. Weigh them up and figure out what is feasible for you.

 

  • Focus and decide. Stop exploring and act.

Dedicate time to accomplishing the change. Identify employers and apply for roles. Don’t underestimate the time you need to put in when applying. Loads of help available for this. Here are some CV tips to get you started, but consider carving out time dedicated to the application process. And if you get to an interview, start here for a foundation to succeeding.

 

Finally you can be progressing a couple of options at the same time if you have the energy to do so. It doesn’t have to be all or nothing on one option.

 

 

Remember “Nine times out of 10 it all pays off”.

 

Nine times out of 10, you can see a 10% pay rise rather than 2% by staying in the safety of what you know.

 

Worth investing some time and energy to get Career Fit?

 

 

We’d love to hear your comments on why changing jobs is hard, even when the reward is tangible. Let us know below!

 

 

Author: Dominic Atkinson

Dom has spent the last two decades supporting organisations, coaching individuals and building software applications to make business better. Trained as an occupational psychologist, Dom extended study into Learning and Development as MCIPD. He formed Stay Nimble in response to rapid technological change and believes that each of us has unique ability that can be directed to navigate whatever the future holds.

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