While it is true that the country is experiencing consistent economic growth, it cannot be denied that a number of firms are still prudent about promoting their staff, especially in the executive level where salaries and compensation packages are significantly high. As an answer to this situation, professionals opt to move sideways – laterally – to a different department or company under the same title or position. What’s in it for employees?
Growth
Although the move is not upwards, transferring to another department or company can become an avenue for career development. New working environments, new methods used and new responsibilities all contribute to progress. Professionals in the people-centric field of sales may want to shift to marketing, where both people skills and analytical capabilities matter. Challenges and changes should be welcomed if they will give a new arsenal of skills and knowledge.
Another aspect of career growth lies in the structure of the current company and the one where an executive decides to transfer to. If the current company has a flat organizational structure and promotion seems only possible when those at the top resign, then waiting is a poor choice. A proactive professional should conduct a job search among companies where there are rapid growth and promotion. Start-ups require executives to do much of the dirty hands-on work, but as the pioneer, they automatically anchor themselves at the top.
Compensation and Benefits
Top executives would not need so much to assert themselves and demand for a higher salary. Just the opportunity for a company to hire someone who is already experienced will be enough for them to give a higher offer. If the previous company really values a professional, they would give a counter offer. This brings the decision to the employee. Is the move needed because of the lack of career growth, or is it an issue with pay and benefits?
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