Over the last few months, mainly perpetuated by the Covid-19 pandemic, we have seen some interesting activity happening in the corporate arena. An “Executive Musical Chairs” if you will. I am uncertain as to whether this is due to the temporary furloughs, possibility of future downsizing, or maybe just a reason to make a change. Some of those moves are a vertical steps up and others are simply horizontal moves for those seeking change and a new environment, but it is happening.
In our firm’s business process working with our executive clients, a job change isn’t just about rollover money being available. It is another function of our consistent financial planning model. It is part of our duty as fiduciaries to equip our clients with the best guidance that gives them the overall perspective allowing them to make the best decision for them and their families. When this impacts our clients, we look very closely at several key things:
- What are they leaving behind? Bonuses, unvested awards, quality benefits, professional stature, etc.
- What are they gaining? The incentives, the benefit packages, sign-on bonuses, raises, equity compensation. Determining if the move is understood as either vertical or horizontal?
- What is the real reason for the move? Professional, personal, quality of life, or “it’s just another offer”?
We welcome these conversations with our clients and prospects because as we all continue to develop as individuals and professionals, a non-biased, rational discussion in any situation can certainly be worthwhile. With the multitude of financial decisions we all make, we can’t promise you that we will always be in full agreement with you, but we will provide you with a healthy interaction.
If you’d like to discuss this further, feel free to schedule a complimentary 15-minute consultation call with one of our advisors, - you can access our calendars from our home page under Connect With Us.
Ted de Groot
Partner, Spurstone