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- Understanding how employers determine salaries
- Determining your priorities
- Writing your negotiation story
- Reviewing the offer
- Holding the conversation
- Leaving an old job on good terms
- Understanding equity compensation
Skill Level Appropriate for all
Once you have accepted the offer, you might find yourself needing to resign from your current job. Your resignation should be like any other business transaction to ensure you don't burn any bridges. Be courteous throughout the process as you never know when you'll run into these people in a professional environment or need a future reference. First, you want to consider timing. It's important to understand what the industry standards are for the length of time or notice you should give your employer.
Most commonly it's two weeks, however it may be longer for more senior positions, or industries like higher education. Something you should also consider when timing your notification is that some companies have a policy of immediate termination. This means you may be escorted from the building. Be sure to know the company's policies so that you are not surprised. Second, consider format. The ideal situation will be to give notice in person along with a letter of resignation.
Keep this professional and to the point. Even if you're leaving a bad situation this is not the time to air your grievances. You simply need to state that you're leaving your current position to pursue other opportunities. However, if you're leaving in good term's you may want write in more detail. In the first paragraph, state your intention of leaving the organization and a specific date of your departure. In the second paragraph, give your reason for leaving, such as career advancement and then remind them of your contributions.
In your final, paragraph leave on a positive note by thanking them for the opportunity to work for the organization. Finally, consider your transition. Depending on your industry standards, submit your resignation letter to your direct supervisor with a copy to your human resources office. If by chance, your employer gives you a counter offer, carefully consider this option. However, it is generally not a good idea to accept. They might concede to a higher salary and better benefits but these are often rash decisions to retain an employee and won't necessarily solve longer-term issues.
If you have done your research up front the decision to leave should be your best decision. Also, you may need to tie up loose ends. For example, you may have unfinished projects, which you need to delegate, unused benefits like vacation, or retirement questions, which you need to negotiate. Remember to get contact information from colleagues that you want to keep in touch with or add them to your LinkedIn network. When your employer comes to terms with your resignation, you may be asked for an exit interview and I recommend you do so to maintain good relations with your former employer.
Once you have given your resignation, you will want to stay in touch and also prepare to start your new position. In the next video, we'll discuss some steps to success.