Gone are the days when employees would stay at one company for their entire careers. The job market is incredibly fluid [1] and turnover is relatively high, and only increasing among younger generations. At some point, it’s likely all workers will consider switching careers. Before you hand in your letter of resignation, however, ask yourself a couple of questions to clarify if it’s time to move on.
How Long Have I Been Here?
In the US, around 31% of new employees leave their jobs within the first six months. Of that 31%, 68% leave within the first three. Obviously, there will be a learning curve whenever you enter a new workplace for the first time, and the curve is always steepest at the very beginning. If you’re in your first few months with a new company, try toughing it out for at least the first six months, if not the first year, to know whether the growing pains are temporary or permanent. Plus, if you stay a bit longer, potential new employers won’t be concerned with your quick turnover.
If you’ve been with a company for longer, say several years, consider how close you are to receiving various benefits, like anniversary bonuses, promotions, and vested [2] retirement. These additional benefits may prove immensely valuable in the short and long terms.
Can I Advance in my Current Company?
If you’re dissatisfied with your current position but enjoy the company in your office, look around for other positions in the same company. Enjoying where you work and with whom you work is not guaranteed from job to job, meaning you should hold on to what you have if you can.
If you don’t see any job openings, it doesn’t hurt to ask a boss, manager, or executive if there’s still room for promotion. Just because it’s not listed doesn’t mean it’s not available.
Have I Fulfilled my Contract?
Perhaps the most basic and tangible [3] consideration is the contract. Employers and employees enter into contracts to complete various responsibilities, and, in some cases, not completing them because you want to move on could prompt serious legal action.
Not to mention, some contracts have valuable accommodations. Some employers will pay for an advanced degree, compensate you if you had/have to move for the job, or do something else more applicable to your situation. Read over your contract as you think about leaving, and make sure you understand the consequences of jumping ship.
Am I ready?
This question has no universal answer. The variables included in an answer vary from person to person and can include personal, mental, physical, spiritual, social, financial, medical, and emotional considerations.
So, take your time when reviewing your potential paths forward. Leaving a job is a major decision that should not be taken lightly. If it helps, you could write down all of the factors that could influence your thought process, or talk it through with a close confidant [4].