With the year-end approaching, many South Africans are looking at their career prospects and wondering if they should change their job.

Workers may feel suffocated in their current position, not want to return to the office after working from home, annoyed by challenging work relationships and micro-managers.

Others may simply want a new challenge so that they can earn more, upskill and expand their professional network.

According to JustMoney, the decision to change jobs goes far beyond the workplace and the lure of a bigger paycheck.

Shafeeka Anthony, marketing manager at JustMoney, said that workers should do their homework and consider the benefits, possible workload and skill development offered by the new job.

“You may be enticed by a higher salary, but keep in mind that this could entail moving into a higher tax bracket, a longer commute, or less downtime with family and friends,” she said.

“It’s vital to consider multiple factors before giving notice.”

Thus, JustMoney offered the following 10 tips to consider before leaving your current job:

• Timing: Instead of changing jobs, workers may need a holiday to regain perspective. They should identify the reasons for their dissatisfaction and only make a decision when they feel refreshed.

• Goals: Consider their long-term personal and career goals and decide if the new job aligns with these. They can consult a trusted adviser to make an educated decision.

• Current contract: Review the fine print in the current job contract. Workers should look into account restrictions such as restraint-of-trade agreements that bar them from working for a competing company or with current customers for a set period.

• Company benefits: Workers should look at the overall compensation package, including medical aid, retirement benefits, bonuses, company shares, and possible perks.

• Corporate culture: Investigate the prospective employer’s culture. This can be easily done by accessing the company website, reading media articles, and checking social media reviews.

• Tax implications: Workers must also ensure that they are up to date with tax laws, especially if they want to move overseas.

• Work-life balance: Evaluate the expected workload and work hours. Workers must ask if longer hours and greater travel will affect their personal lives.

• Professional development: Workers must ask themselves what new skills and experiences they can gain from the new job. For instance, the company may fund or reimburse further studies.

• Job security: Workers should also check if the new employer and the sector it operates in are stable.

• Emergency fund: Workers must also ensure that they can cover their living expenses for at least three months, as a new job may incur unexpected costs, it may not meet their expectations, or they could be retrenched.

“Taking the time to review these factors carefully will help you make a well-informed decision that aligns with your long-term financial goals and overall wellbeing,” said Anthony.

“You should then stand a greater chance of improving your standard of living, with fewer drawbacks.”

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