What Should You Consider Before You Quit Your Job?
The Great Resignation, a term which began to be used around May 2021 to describe a record surge of workers quitting their jobs, has initiated many valuable conversations about work-life balance, fair wages, and work culture. Unfortunately, not everyone who joined the Great Quit has been happy with their decision. The Q2 2022 Joblist report found that more than a quarter of people who quit their jobs during the Great Resignation are now regretting it, while 42% of those who quit for another job are disappointed with their new position. Other reasons for regret included difficulty finding a new job, dissatisfaction with their new employer, and missing coworker relationships at their former company.
Although changes in the economy and a potentially looming recession may make some people more hesitant to leave their jobs in the future, many workers are still looking to capitalize on a hot labor market that has forced employers to pay more attention to employees' needs in order to retain their current workforce and attract top talent. A large portion of your waking hours are spent at work, so job satisfaction is important, as well as finding a position that will help you reach your career goals. So, how do you know if it's time to leave your job? If you're considering turning in your notice, consider these factors BEFORE you jump ship.
Assess Your Motivations for Your Job Search
Before you even start searching for a higher paying job, it's important to take a step back and evaluate why you're considering resigning in the first place. If you're interested in finding a new challenge or exploring different career opportunities, then making a move may be the best way to achieve those goals. If there are aspects of your job or company that you like, identify the real driving factor that is causing you to consider quitting your job. Then ask yourself whether the issues you are experiencing are temporary or if they can be resolved. Do you not like the company culture, your boss, your co-workers, or your commute? Are you looking for higher pay or better benefits? Or is it the job itself that you don't like and you need to think about a career change?
Fix What You Can
Joblist reported that 16% of those surveyed regretting quitting because they now thought their former employment was better than they realized. Before you write your resignation letter, ask yourself if there's anything you can do to improve your current situation. If you're looking for more money, can you negotiate a raise? If your workload is overwhelming, can you speak to your manager about redistributing some of your tasks? If the company culture is toxic, talk to HR or your supervisor to see anything can be done to improve it. If your commute is too expensive or you need more flexibility to balance work and your personal life, find out if you can work remotely a few days a week.
Or perhaps you're feeling stagnated in your current role. Try talking to your boss about other open positions in your company that you are qualified for, or ask about taking on new responsibilities so you can gain experience that will qualify you for a promotion in the future. Once you've done everything you can to resolve the problems that are making you unhappy at work, you will feel confident in your decision to stay or leave. If your company values you as an employee, they will want to give you the support you need to be successful. On the other hand, if they are unresponsive to your concerns or unwilling to make any changes, it may be a sign that it's time to move on to your next job.
Don't Quit Without a Plan for Your Next Job
It can be easy to let emotions and your mental health cloud your judgment when deciding whether or not to resign from your job, but it's important to try to be as objective as possible. If you're feeling frustrated, burnt out, or undervalued, you may be tempted to hand in your weeks notice without another job lined up. Unfortunately, this can be a risky move, both professionally and financially. It can take several months to land a new gig, and in the meantime, you'll still need to pay your bills. Even if you're confident in your ability to find a new job quickly, it's always best to have a Plan B (or C) in place before you quit. According to those surveyed in the Joblist report, 40% found it harder than they expected to find a new job after quitting. And although the pandemic has changed some traditional perceptions about career breaks, employers still often interpret unemployment negatively and may hesitate to hire job seekers who aren't currently working. Although there are situations where you may need to leave a job quickly, waiting to turn in your two weeks notice until you have another job offer is usually the best option.
Weigh All the Relevant Factors
Quitting your job is a big decision, and there's no easy answer to the question of which choice is right for you. You don't want to make a rash decision just because you've had a bad week or you're upset with your boss. Be sure to weigh all the relevant factors before determining it's time for a job change. Make a pros and cons list, including your mental health, while keeping the big picture in mind. Consider your career goals, both short- and long-term, and decide if resigning is the best way to achieve them. Some other factors to consider before quitting may be less obvious. For example, if you have a strong working relationship with your coworkers or your company has an outstanding work culture, those things may be more valuable to you than more money or a shorter commute. Some aspects of company culture, such as flexibility, work-life balance, company values, strong teams, and supportive employer-employee relationships, are hard to find. If you have these things at your job, consider whether the expected rewards of the new job outweigh what you are potentially giving up. When comparing salaries, consider both direct and indirect compensation. This means factoring in differences in healthcare, paid time off, retirement, bonuses, and other benefits, and estimating what these add to your official salary. If your current company offers better benefits, it may be worth staying put even if the salary is lower.
Consider How It Will Look on Your Resume
Although it is no longer common to spend your entire career at one company, you don't want your resume to look like you are job-hopping. If it hasn't been very long since you started your current position, seriously consider the potential repercussions of resigning so soon. Having too many new jobs in a short space of time can cause employers to question your work ethic or abilities, and may hurt your chances of being hired in the future. Additionally, treating your career like a game of musical chairs often leads to burned bridges and missed opportunities to learn new skills, gain experience, and earn raises or promotions. It takes time to feel comfortable in a new role, as well as to get used to the new company culture and build relationships with your coworkers. Don't expect the first week or even the first few months on a new job to be perfect. Give yourself time to adjust and make sure the company really isn't a good fit before you consider quitting your job.
Do Your Research
If you've decided that resigning is the best option for you, it's important to do your research before giving your two weeks notice. If you don't have another job lined up, make sure you have enough savings to cover your living expenses for at least a few months and have a plan for jumpstarting your job search. Research the current job market as well as average salary for workers in both similar jobs AND similar geographic areas so you have reasonable expectations and are prepared to negotiate, either with your current or potential employers.
If you're considering relocating for a new job, research the cost of living in your desired location and determine whether more money will outweigh the price of moving. Collect data on your prospective employer and take the time to read reviews from current and former employees to get an idea of what it's really like to work at the company. Also, dont be scared to contact their human resources department if you have questions. Determine whether the business and the industry seem stable and able to withstand changing economic conditions. Ask yourself if changing jobs right now will help you move forward in your career, and have a plan B in case the new job doesn't work out. The more information you have, the better prepared you'll be to make a decision.
Be Realistic About a New Job
Be realistic about your expectations and remember that the grass isn't always greener on the other side. You may not like your new boss or fit in with the new company's culture. A higher salary may not compensate for the loss of other benefits, such as flexible hours or a strong, supportive team. The new job may not meet all of your expectations, and there will undoubtedly be aspects of your new company that you won't like. Know what your top priorities are in making a move so you can identify your deal breakers. This will help you choose the most viable option to promote your career's ultimate goal, not just what seems attractive in the moment.
Quit Your Current Job the Right Way
If you've done your research during your job hunt and decided quitting is the right choice for you, make sure you do it in the right way. Give your employer as much notice as possible-- ideally at least two weeks. This will give them time to find a replacement and train them for the job. Write a professional resignation letter, thank your employer for the opportunity, and express your excitement for the next chapter in your career. Be sure to leave on good terms so you can use your current employer as a reference in the future. Boomerang employees are also becoming more common, and you may find there is an opportunity to return in the future if your new job doesn't work out or your old employer offers a better position. Even if you don't think you will want to return in the future, leaving on a good note will help you keep all your options on the table.
Should You Quit Your Job?
The decision to quit your job is a personal one and it can be hard to know when it's time to start a new job search. It's important to weigh your options carefully and consider all relevant factors to avoid making a hasty decision. Be honest with yourself about your motivations and be realistic about what to expect from a new job. It's impossible to predict the future, but if you take the time to think about your career goals and fairly weigh the pros and cons, you'll be more likely to make a decision that's right for you and your career. If you're still on the fence, set a deadline for yourself and see if things improve in that time. Talk to your manager to see if there are any changes that can be made to address your concerns. If things still don't improve, you'll know it's time to start looking for a new job.
