Facts. The biggest career mistake I made was staying at one place for too long. It was comfortable and solid. I got complacent. I didn't think I could do better. I was wrong.
I've changed jobs twice since then, and both have been big upgrades. If your employer isn't significantly rewarding loyalty, I highly recommend at least looking to see what's out there. You aren't forced to go, but be open to new opportunities. An upgrade is likely to come.
If any of my employers had pensions or other such loyalty programs, I wouldn't have had reason to constantly seek greener pastures.
I find it interesting that this article talks about pensions, but then suggests other ideas besides pensions as ways to get loyal employees. I agree that things like sabbaticals are a good idea. I would love to have that as an option. But I would love a pension program as strong as the ones my grandparents had even more. They aren't illegal or anything now that 401ks exist. Companies are still allowed to make them. Just almost none of them do.
Was having this conversation recently with a benefits expert I know. Traditional benefit plans that were basically worthless unless you stayed in the same place for a minimum of a decade are mostly worthless today. But there are apparently a lot of newer-style defined benefit plans that are more flexible.
My employer has increasing vacation over the years, start with 3 weeks but you’re up to 5 when you’ve been there a decade. IMO that’s a very undervalued proposition that makes me want to stick around longer than I might otherwise. There’s a dollar value that would trump it of course but it’s pretty high.
As a European I am very aware of that. But like I said about dollar amounts, the extra you can earn in the US made the move worth it for me personally.
I suspect many/most of the people in the highly paid areas of the tech sector in the US would not actually jump for 2-3 weeks of unpaid leave per year (without other consequences--which I realize is an issue if you're a small minority that takes the offer).
Personally, I always have taken my max time off and even taken unpaid leave for shutdown when that was an option but I realize that's probably not the majority.
I am asking because I never tried this. Isn't it better to earn more and take unpaid leaves than having 2 more weeks of paid leaves? 2 weeks of extra unpaid leave = 1/2 a month's pay, meaning you could afford to do it if you earn 4% more yearly.
I am the same here. Complacency can indeed lead to stagnation. Realizing the importance of seeking growth and new opportunities is a valuable lesson. I'm in a process of learning.
I've changed jobs twice since then, and both have been big upgrades. If your employer isn't significantly rewarding loyalty, I highly recommend at least looking to see what's out there. You aren't forced to go, but be open to new opportunities. An upgrade is likely to come.
If any of my employers had pensions or other such loyalty programs, I wouldn't have had reason to constantly seek greener pastures.
I find it interesting that this article talks about pensions, but then suggests other ideas besides pensions as ways to get loyal employees. I agree that things like sabbaticals are a good idea. I would love to have that as an option. But I would love a pension program as strong as the ones my grandparents had even more. They aren't illegal or anything now that 401ks exist. Companies are still allowed to make them. Just almost none of them do.