The Job GYM

Paying to be paid Could the best way to keep your employees be to pay them early?   That's the promise of on-demand pay, ie, earned wage access (EWA) services that pay employees for the time that they work ahead of the regular pay period. It's increasingly being offered by fintech companies such as   ADP ,   DailyPay ,   Payactiv   and   Wagestream , with plenty of   emerging startups being funded to bring new business models to the market. Perhaps unsurprisingly, given the cost of living crisis, it's catching on. While fintechs have primarily focused on major companies – Amazon, Walmart and Uber offer the service – experts say it's likely that small businesses will be the next wave to give the trend a try. But there's no such thing as free money – and, in a still-regulating industry, companies need to do their research before jumping on board. Saying yay to early pay So far, it appears to be a benefit that employees use:   The Clearing House , a banking association

  ⚖️  Assess your current job. Write down what you've accomplished in the past year in your current role. Specific questions to think about: Is there progress? Is there growth potential? Are you learning as fast as you'd like? Are there no other jobs you want to try? I think a warning sign that you're too comfortable is if you answer 'no' to a lot of these questions and you still don't want to explore a switch. 💸  Switching companies is critical for salary growth. Even if you do an exceptional job, most companies have limits to how much of a raise you can get internally. Usually, you can only really expect a 5-10% max pay increase per year, if that. These rules don't apply when you move companies. It's not crazy to get 40-60% increases if you join another company that has different pay standards, even if you're in the same kind of role. 🎨  The right job for you is a mix of learning and the right salary . The exact split of what's more important

  The easiest way to get promoted is to do the following: Choose an employer that’s growing and in constant demand for new people. Master your own job. Develop preliminary competence in the job above you. Volunteer to do the least enjoyable parts of the job above you ( before you’re promoted). Let me explain why each step is important. 1) Choose an employer that’s growing and in constant demand for new people. If a company is shrinking and laying people off, the last thing they are thinking about doing is promoting people into new roles. If a company is stagnant, there’s no upward mobility. If your boss isn’t looking to get promoted (thereby creating an open position for you), it becomes harder to have an upwards career trajectory with that employer. There’s no point in looking for a promotion if you are working on a sinking ship. 2) Master your own job. It’s absolutely vital that you truly   master   your current job before looking for the next job. Here’s why. From the employer’s poi