The “one more year” plan: what delayed career moves are really costing you

SummaryIn this solo episode, Reneeunpacks one of the most common patterns she sees in her coaching work: thehabit of delaying a career move while waiting for the “right moment.” Whetheryou’re thinking about leaving your company, going for an internal promotion, orrenegotiating your current role, the logic of waiting can feel sound. Reneemakes the case that it isn’t — and that the cost of inaction is higher thanmost people realize.She walks through three distinctscenarios, each with its own version of the cost of waiting: the financial costfor those considering an external move, the leverage cost for those ready for apromotion, and the career capital cost for those who need to reshape their rolefrom the inside. The episode closes with three concrete actions listeners cantake right now, whatever their situation.Key Takeaways•       The “one more year” plan applies to three groups: those considering an external move, those ready for an internal promotion, and thosewho need to renegotiate their current role.•       For external moves, the financial cost of waiting is concrete and calculable. A conservative 15% salary uplift on a USD 230,000base, including bonus, adds up to over USD 40,000 per year in foregone compensation.•       For internal promotions, the cost is about leverage. The best time to make a case for promotion is at a peak of momentum, not afterwaiting for things to calm down.•       For role renegotiation, the cost is career capital: every year spent in a role that underuses your strengths is a year not spentbuilding the skills and visibility your next move will depend on.•       Loss aversion, a well-documented psychological principle, explains why the invisible cost of waiting feels less real than thevisible risks of acting.•       The pattern is the same regardless of scenario: one reasonable reason to wait becomes two, two becomes three, and before long you’ve been “almost ready” for two years.•       You don’t have to be ready to start. One conversation, one update, one outreach is enough to build momentum.The formula mentioned in the episodeFor those considering an external move, Renee shares a simple formula to calculate your annual cost of waiting: Annual cost of waiting =(Current base salary × 0.15) + (Monthly salary × months of bonus × 0.15) Plug in your own salary andbonus to find your number.Three actions you can take1.    Set a real deadline, not a milestone. 2.    Make the cost visible. 3.    Start building from where you are. ChaptersIntro and welcomeWhat the “one more year” plan sounds likeThree types of career moveThe financial cost of waiting: external movesThe formula: calculating your annual cost The leverage cost: internal promotionsThe career capital cost : renegotiating your roleWhy we all wait: loss aversion The pattern: one reason becomes two Three actions to take right nowKeywordsHR career development, senior HRleaders, career coaching, women in HR, career transition, internal promotion,salary negotiation, role renegotiation, loss aversion, career capital, jobsearch strategy, APAC HR, strengths-aligned career, career momentum, HRleadershipResourcesJoin Renee’s newsletter: news.rchrconsulting.com/newsletter Connect with Renee on LinkedIn:linkedin.com/in/reneeconklin