We spoke with our Sr. Recruiter here at Payments & Cards Network, Lewis Howard about how job seekers can improve their chances for job offers last week. Lewis works Sr. and Executive level roles as a recruiter, but he occasionally meets with younger and more junior applicants to mentor them in their search for job offers. So, today we’re picking up where we left off. Lewis is going to focus on deciding between offers and contract negotiation:
By this stage you’ve interviewed, impressed and should be looking forward to receiving a job offer. Deciding between offers is a strenuous experience. In a way, you must be your own amateur employment lawyer when dealing with contracts. There’s a few factors to look at.
First, money. Of course this is important but it’s rarely just the base salary that matters when deciding between offers. Make sure you get the commission scheme if that’s part of your contract. Companies make it complex for a reason. If they say commission is the same for everyone, or you can’t mathematically work it out, don’t take the deal.
For bonuses, if they’re based on team performances, ask how those KPIs are structured. Same goes for individual performance based bonuses. Make sure you find out how the KPIs work. If you receive benefits or insurance, see if you can put a value on it and find out when you’re eligible.
Next, look at stocks and shares, which may be rare for salaries under around 100,000 per year. But just in case, see how they’re evaluated. Make sure a ratings agency has evaluated the stocks. Ask what they’re worth, and find out if the company plans to go public. What will they be worth after that? And make sure you ask about your legal right to them. Is it discretionary or do you own them? How many shares are there total? How can you gain more with time?
Make sure that all of this information is in one solid combined contract. You don’t want these pieces of information floating around on other documents.
Finally, take a look at holiday time. See what the national average is and compare yours. If they’re not the same, why? Sick days are similar. The average person is sick 2 weeks of each year. You don’t want to seem too eager about this one of course, as you don’t want your potential employer to think you’re planning on calling out sick often.
Additionally, look at the duration of your contract. Is it permanent or temporary? Why is it temporary if so? When can you transition to permanent? Look also at promotion. The contract should set out guidelines for performance and promotion. There should be approximate rules for promotion expectations.
Once you’ve checked these vital points and looked over your contract, you’re ready to begin deciding between offers.