When you’re building your career, you are looking for both opportunity and sustainability. The goal is join a company that you like being a part of and one that invests in you as an employee. Many people change jobs over the course of their career for many different reasons, and the two biggest reasons are generally around compensation and location. However, sales professionals aren’t always chasing the dollar, and are sometimes motivated by other red flags to search for a new job.
Here are 6 signs it’s time to look for a new job.
1. Lack of Growth
Aside from compensation and location, this is what I hear most often, especially if you are working for a big company. You find yourself more of a “number” than a “name.” You work hard and are looking for career advancement, but all the senior leadership roles are occupied and you hit a glass ceiling. You may be a top performer, but there is no clear direction. More often than not, you are promised advancement within the company when you first start out but after a while you do not see a promotion coming any time soon.
2. Downsizing/Closing Offices
It’s an unfortunate circumstance when your company hits a rough patch, especially when they restructure the organization or experience layoffs. If your company has started to close a few offices or has discussed restructuring, it may be a sign that there could be a change in leadership which as a result could affect your department. It’s never a pleasant experience to go through several rounds of layoffs, with your fingers crossed that you don’t get cut. Even if you feel your company has an obligation to look out for you, it may be a sign it’s time to take a look at other opportunities in the market.
If you are in a sales profession, you understand how critical it is to have a clear commission structure. Your commissions are your lifeline. You want to make sure you have a strong grasp on how the sales cycle works and how you are compensated. If you have a long and strategic sales cycle, with big quotas to hit, but little return, it’s a clear sign the commission structure is broken. Remember, you chose a career in sales so that you can directly see the outcome and success of your hard work. Make sure you are being compensated for it. If your commission structure seems broken, it may be time to start looking.
4. Company was Acquired
I am on the fence about this one. It could go either way, but it is definitely worth paying attention to. Some companies get acquired and nothing changes. However, for others, it can be the exact opposite. Even if you were a main contributor to the company’s success and acquirement, it does not mean your spot is guaranteed under new leadership. When new management comes in, there could be a change in company direction, and what you once liked about the company could no longer exist. Whether you’re concerned about change or possible layoffs, this could be a sign that it’s time to look for a new job.
5. Saturated Market
I see this with a lot of companies in different industries. I come across so many companies that are delivering the same product/service that sell to the same audience. You want your company to be the one that stands apart from the competition. If the audience you’re selling into, doesn’t see the difference or value, you may be selling into a saturated market. If you are making 50 plus calls a day and all your prospects are telling you “This sounds exactly like the company we are already using” or “You sound just like X company,” you may struggle to grow your territory. If you cannot differentiate yourself from your competitors, maybe it’s time to consider joining the competitor.
6. Team is Not Hitting Their Numbers
This point ties into all of the above. This can be due to a saturated market or unrealistic compensation plans, but either way it can be a job search motivator. It is one thing if you are falling behind your quota, but the #1 rep is still destroying theirs. However, if the entire team is not hitting the team goal, it may be time to look elsewhere. My recommendation is to look out for this sooner than later. Some hiring managers frown upon lackluster quota achievement. Find a new opportunity while you are on top. This is when you are most marketable.
It’s important to understand the reasons for launching a job search. This is part of your story, that hiring managers are going to ask about. It’s important to know your story and be able to articulate reasons for making moves throughout your career. You do not want to look like a “job hopper” or someone who bails on an opportunity as soon as it gets difficult. You want to be able to relay what motivates you and what you want out of your career. If any of these 6 signs are obvious and apparent at your current role, it may be worth exploring new opportunities.