Tuesday, July 6, 2021

3 Things to Consider If You're Thinking of Quitting Your Job

Are you ready to quit your job?

If so, you're not alone. As we emerge from the pandemic, many people are looking at their jobs and thinking: "Is this the best I can do?"

Thinking that the grass is greener on the other side is nothing new, and with the flood of new job openings it makes sense that you should take stock of your career and assess whether it's in a good place.

Still, you need to think carefully about your situation before making a job leap. Sometimes that jump is a smart idea -- and sometimes you regret it. Here's some things to think about:

1. Chances for advancement. Every company should be able to show you a career trajectory. If you're an engineer I for example, what are the requirements to be engineer II? How many years of service or what types of certification do you need to move up the ladder? If your company doesn't clearly outline -- and the boss can't articulate -- how you can get promoted and earn a bigger paycheck, then it's time to reassess your path to better things.

2. Flexibility. The idea of flexibility can be different for everyone. A working mom, for example, might want the option of working from home two days a week. A hotel manager might like the option of working for 10 straight days and then taking four days off so he can compete in out-of-town marathons. When you're looking for a new job, giving up that flexibility you have in your current job can be a real detriment to your mental health and overall happiness. 

3. Overall compensation. If your company provides full health coverage or on-site meals or a dry cleaning allowance or metro tickets, then you need to figure that into your compensation when trying to decide to leave for a bigger paycheck. One company may lure you with a bigger income, but that starts to dwindle when you figure in a bigger healthcare deductible, no commuting allowance and paying for lunch every day.

4. Exposure. It can be challenging to get ahead if you don't have a chance to regularly interact with decision makers. If you're going to work remotely, will you miss out on those chance encounters with a senior leaders? Will the decision makers remember you through occasional Zoom calls? Will your boss tap you for spur-of-the-moment opportunities? Working remotely can be great unless you miss out on opportunities to learn, grow -- and excel -- through your exposure to more experienced people and bosses.

Some of the decisions to be made will depend on where you are in your career. Those in the early years may decide that job hopping is the only way to get ahead in their skills and their earning power. Those who are mid-career may decide that the perks and stability of their current position are more important than jumping to a new job.

Whatever your decision, approach it with a clear idea of the pros and cons so that you don't jump to a new job just because the other kids are doing it. 

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