Think you need to change jobs to advance your career? Think again.

It is not uncommon for people to assume that staying at one company too long can hinder their career growth. And they are right to think this, as for the last 10 years or so it has been true that job switching has led to bigger salary bumps. However, that trend is changing since 2020. According to SHRM and data from the Federal Reserve Bank of Atlanta, “In the first two months of this year, people who switched jobs increased their wages by 4.8%." In comparison, workers who remained in their current roles increased their wages by just a fraction less: 4.6%.”  With a negligible difference in salary, most people will find that the benefits of staying put—cultivating real mastery and organizational knowledge, building deep relationships with coworkers, having more flexibility to take on new challenges, outweigh the risks and costs of searching for a new job.

However, in order to get the most out of your career without switching companies, you have to do some strategic work and investment in your personal brand: how people perceive you and talk about you when you’re not there.

Assess Your Personal Brand 

People often shy away from the idea of a personal brand, but the reality is that we all have one, and it’s up to you to make sure it aligns with how you want people to see you. To start, you'll want to audit your current professional image: 

1. Conduct a self-assessment and analyze the brand gap: As with most personal growth, it's important to take a moment to think critically about yourself and your career trajectory. Reflect on your core preferences, strengths, and areas where you might need improvement and make it a practice to periodically assess the gap between where you are now and where you want to be. 

2. Set up feedback sessions with trusted peers: This may seem daunting at first, but acquiring direct feedback from peers that interact with you frequently is going to be the most efficient route to understanding how you are perceived professionally. Remember that these feedback sessions will help you grow, so go into them with an open mind and a desire to learn - even if the feedback is hard to hear.

3. Understand that change is necessary and good: If people knew you ten years ago, their perceptions may be out of date, with them viewing you as not as mature or experienced as you are now. Think of how you want to be perceived and what you want to be known for, as well as things that you want to leave in the past. Make sure you are getting exposure to people who you might not have worked with in a while so they can get a fresh impression of you.

Develop Your Personal Brand

Based on your self-assessment and feedback sessions, it's time to develop and take action on your personal brand development plan.

1. Align your plan with your company goals and narrow down a target role: To maximize the opportunities available to you at your current firm, it is important to ensure the vision of your brand aligns with the company's. Check in with your managers and leaders to understand what that means for the company specifically and set your sights on a feasible next role there. 

2. Develop skill gaps: Once you have a better understanding of your target, develop any of the gaps you learned of in your self-assessment and feedback sessions and those that gear you up for the target role. You should also be considering how technology (such as AI) or other market factors may directly or indirectly impact your industry so that you can speak to the challenges that you will encounter in interviews and in-role.

Pro tip: A great way to stay on top of industry trends is to network outside of your current role. Not only does this provide insight into how companies in related industries operate, it proactively develops your network contacts in case you need to fall back on them at some point in the future. 

3. Take initiative and demonstrate your growth: As you develop your skills and know how your firm can benefit from them, it's time to put them into practice. Engage proactively with managers and provide thoughtful feedback on projects, request role-expanding work, and be the first to provide valuable insights on industry trends. 

Moving your career forward from a stagnant point might require some introspection into how your personal brand affects your potential to advance. By assessing your current brand identity and strategically shaping it to match your career ambitions and the goals of your organization, you exhibit your adaptability, value, and dedication to your professional growth as well as the company’s. In doing so, you set yourself apart from others at the firm, setting you onto a path that might have otherwise seemed unachievable from your previous position.