Thinking about quitting your job? You’re not alone. Furlough, home working and reassessing work-life balance is leading to what economists are calling the great resignation.
In fact, 38% of UK employees plan to quit their job according to this survey. And worldwide, that increases to 41%. There are some knock-on effects in certain industries, with employees being able to command a higher salary or hourly rate.
But if you are considering joining the great resignation, here are some things to consider before you hand in your notice.
Have a plan
If going back to the old ways of working fills you with dread, or that the past year has made you reassess your priorities, then you need to start thinking about the kinds of work that you do want to do.
Take a look at your skills and how you may be able to transfer them to a new role. Decide on what you want from any new position before quitting your current one.
Is working full time no longer working for you? Or do you want to work closer to home? We know that people are moving out of cities to have more outdoor space. Consider where you want to live and work.
If you want to quit to spend more time with your family, think about how you can make that happen. Use the time you are in your current employment to fully plan out your next move. And discuss it with your partner or spouse.
Sort out your finances
If you are going to resign, you need to sort out your finances. Understanding how much money you need to live on to pay the basic bills and costs. This will give you an idea of how long you can be out of work. Don’t forget to include any benefits you may get from your current employer like a pension, company car, or bonus package.
This will give you a view of how long you can be out of work if you have not found another job before you resign.
Consider what would make you stay
There are many reasons why people are resigning at the moment. Some of these reasons can be resolved with your current employer. For example, feeling like you’re not getting the career development you need. Talking to your line manager about a development plan can help.
Or if you don’t want to return to the office, you can put in a flexible work request. It may be that the hours you work are not working for you. In this case, talk to your employer about how you are feeling.
Your employer may want to know what they can offer you to stay at the company. If you know what this looks like before you hand in your resignation, you will be in a better position. Even if it is that there is nothing that can make you stay.
Take some advice
It is important to take advice before you become part of the great resignation. We offer an exit strategy package where we negotiate the best possible outcome as you leave your current employer.
We know that when people resign from their jobs it is often not about the work. It is often something else with their employment that they are unhappy about.
We can help you navigate your options and clarify what you want from any future job to have a clear plan of action.
Avoid making impulsive decisions
Finally, it may be tempting to say “I quit” and figure it out as you go so that you have a quick exit. Try to avoid making impulsive decisions at the moment. Significant changes in your life can be exciting but also stressful. Having a solid plan behind your decisions will help you transition to your new beginning.