For Consideration: Moving to Greener Pasture ...

It is not unusual, at this time of the year, for employees to look outside their existing turfs for "greener pastures" outside. It will be a "merry-go-round" as employees "switch chairs" for another.

It would be appropriate, at this juncture, to remind job seekers to consider not only the basic remuneration but also the "performance-linked incentives and long-term rewards for the compensation mix" before making any decision to move on.

Assuming that you have received severable job offers, you will need to compare each Company's compensation plan against another. A great jump in the basic salary offered should not close your eyes to the overall package.

This would include (a) direct financials: salary, bonus, incentives, allowances, claims etc (b) indirect financials:  medical (out-patient and/or hospitalisation), insurance benefits (life and/or PA - self or including family), company car, sponsorship of part-time study, study leaves, annual leaves, compassionate leaves etc (c) non-financials: work culture and environment, Company policy, career opportunities, focus and direction of the Company etc

The highest salary that the Company offers, may not necessarily be the best package value for you. For example, medical and insurance packages may not translate into your immediate monthly "take home pay" but will be valuable benefits when unfortunate circumstances demand it. You need to look beyond immediate numbers to have a peace of mind as well. This will be to you and your loved ones.

Work environment and culture are also important considerations. They should be viewed as "additional compensations" eg  work ambience, entrepreneur, innovative and creative culture etc would add to the joy, productive and conducive work place.

Thus, there is a need to harmonise the non-financial benefits with the Company's performance-linked incentives and long-term rewards for the compensation mix in the decision making process.