HEADLINES from Business Mentors, Inc.

What is HEADLINES?

HEADLINE: GET IT IN WRITING!

A client from Brussels recently referred his friend Michael to me. Michael needed to discuss a problem that he was experiencing with his current employer. It seemed that two years ago Michael had accepted an offer with a leading software vendor. He had been attracted to the challenges of a new role and, as a result, he accepted the position of Vice President of Strategic Planning with a base salary of $150K per year. During our conversation, I found out that he left a Senior Vice President position with his former employer that carried a base salary of $170K. Not only had he accepted a demotion and a pay cut but his decision had done considerable damage to his resume. He now would have to spend the balance of his interviewing career explaining to potential future employers why he had taken a position with seemingly less responsibility.

SO YOU THINK THAT’S ALL THERE IS TO IT?

When I questioned Michael about his decision, he explained that two years ago the President of the software company had made him the offer. He had objected to the drop in title and salary but the President had explained that the Vice President role would only be a short-term one. The President just needed to bring him in at a level so as not to anger other members of the leadership team in the organization. Michael was told that he could expect a boost in position in six months to one year which would take him right back up to the base salary level and title that he had left in his old job. It seems that the President was quite a sales person! At the end of one year Michael received his performance review and fully anticipated a promotion.

WELL, THERE IS THIS, UM, PROBLEM WITH, UH…

Sadly, the President explained to Michael that the company had not hit its revenue targets and he was unable to promote him at this time. In addition, within three months, the company President was gone……terminated by the Board. Michael found himself with a new boss. When he questioned the new President about the promised promotion and salary increase, he was told that it was a “new day”. The new President could not honor any oral commitments of his predecessor.

COUNSEL FROM THE COACH

In any negotiation with a company, whether with your current employer or one that is extending an employment offer to you, it is critical that you request to have every commitment made in writing to cover yourself professionally. If the organization will not do so, then you have reason to question their motives or intentions on following through with those commitments.

Michael had been negligent at the time that he accepted this role by not requesting that the commitment about promotion and salary increase be put in writing as a part of his offer. In hindsight, Michael admitted that it would have been wise for him to have met with a career professional to discuss the pros and cons of accepting the new position. Excitement over job offers, bonuses, promotions, and relocations can blind the professional to the need to get all commitments in writing. I have seen virtually hundreds of cases where clients entered into agreements with an oral promise or a perceived commitment on the part of the employer for a salary increase, promotion, option award, sign-on bonus, or relocation package only to have the company fail to honor its commitment thereafter. Without some type of written documentation, the employee is left without evidence of the prior commitment.

As for Michael’s fate, we were able to develop a written agreement with his new boss that Michael be given the opportunity to demonstrate his ability to hit corporate goals and targets in his current role. In turn, Michael would be considered for a promotion to Senior Vice President and salary increase during the next review cycle. While Michael was successful in negotiating this new agreement and obtaining a commitment in writing, he had lost valuable time in his role. Had he received solid advice prior to initially joining the company, he might have already risen to the Senior Vice President level with a much higher base salary.

Learn the lessons of Michael and remember to get it in writing!

Invest in Yourself,

Al Stewart

President/Owner

Business Mentors, Inc. is a career management organization that was founded in 1995 by Al Stewart, a former corporate executive with background in the transportation and communications industries with such industry leaders as Eastern Airlines, AT&T, GTE and Sprint and an educational background in Adult Education. His firm, Business Mentors, Inc., offers a broad range of services focused on successful management of professional careers including: Career Exploration, Career Transition, Career Outplacement, Becoming an Entrepreneur, Executive Development and International Transition. With a powerful record of success using counseling, consulting and motivation of over 3500 executives in the past ten years, the firm founded the executive coaching movement and continues to enhance its reputation as one of the leading and most highly regarded career management firms in the country. For more information about our services or questions regarding how we can assist you, please consult our website: www.business-mentors.com Or, you can choose to email us at alstewart@business-mentors.com or call our offices (Atlanta, Fort Lauderdale or Paris, France) at our global number: 404.644.8618. Our associates are available in person at one of our three offices or via teleconference worldwide.

*While we hope that you will enjoy each edition of HEADLINES, you can choose not to subscribe to this publication by simply addressing an email to HEADLINES@business-mentors.com and writing “UNSUBSCRIBE” in the subject line.