Don't quit your job without a plan; do this instead
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Are you tempted to quit your job without a plan? We explain the advantages and disadvantages of quitting without a new job and show you a better solution for your career.
Have you ever quit a job without having a plan for what to do next?
It's hard to avoid all the text message cancellations that are currently going viral. And when you're feeling overworked, underappreciated, and burned out, it's all too tempting to quit your job without a new one in sight.
Hey, you're not alone.
A new Microsoft study found that 54% of Generation Z and 41% of global workers are thinking about leaving their jobs [ * ]. And the U.S. Bureau of Labor Statistics reports that over 240,000 Americans quit their jobs in July 2021 alone [ * ]!
The Great Redundancy is inspiring workers around the world to find better options for their careers. It is also paving the way for a mass transition to permanent remote work.
But the differences between resignation and quit can have a significant impact on your career, quality of life and financial security.
In today's guide, we'll look at the pros and cons of quitting a job without finding a new one. Then we'll introduce you to a better solution so you don't have to quit your job without a plan.
First: The difference between resignation and termination
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Let's first define the differences between quitting a job and ending an employment relationship.
You resign when you tell your employer that you want to leave your job. . You write a letter of resignation, typically work for two weeks to resolve any outstanding issues, and then leave with the prospect of being rehired at a later date.
Your employees and managers may be sad, but they will respect your decision and act as solid network references. Maybe they'll even follow your lead and look for one of the highest paying remote jobs too.
Termination occurs when you leave or give up your job abruptly and without prior notice. . You don't work your two weeks and don't follow formal HR procedures for your departure. The company may consider you undesirable in the future. And depending on your position, you could even be in breach of the contract.
You'll probably have to consider that bridge burned. Your boss and colleagues may feel betrayed or upset if they are forced to work overtime to cover your responsibilities on short notice.
Even if termination seems to be the professional solution, there are good reasons to quit a job.
The pros and cons of quitting a job without a new position
What happens if you quit your job without a plan?
Disadvantage: No money, more problems
If you quit without a new job lined up, your income will disappear but your expenses will continue to pile up.
Although we are in a candidate-driven job market, competition for remote jobs is at an all-time high. It may take weeks or even months to get back on your feet.
So do you have enough savings to make ends meet? You shouldn't dip into your emergency fund because unexpected expenses, accidents, and car breakdowns can still occur.
Instead, save at least six months of expenses on your account before you cancel.
Add up all essential expenses (e.g. mortgage/rent, car, insurance, medical bills, groceries, child care/elder care, etc.) for one month. Then calculate your must-have luxury expenses (like gym memberships or your favorite subscriptions).
Combine your essential and luxury expenses for a month and multiply the result by six to determine how much money you need before giving up your regular salary. Decide what you can live without if money is tight.
Remember that if you quit, you will lose your health insurance, which is tied to your employer. So be prepared that you may have to pay more out of pocket to remain covered.
Pro: Your mental health and happiness can skyrocket
If you are treated disrespectfully, harassed, or discriminated against, you may not be able to endure another day in a toxic work environment. The same is true when you look at the signs of burnout.
We can't blame you for wanting to escape!
Anthony C. Klotz, a professor at Texas A&M University, coined the term "The Great Resignation" because he predicted that many workers would quit due to higher levels of stress following the pandemic [ * ].
If COVID-19 has given you the opportunity to reevaluate what's most important in life, then perhaps the best solution is to quit a job that is harming your physical, emotional and mental health.
Because if you're too stressed or exhausted to focus on anything else, how can you devote yourself to the remote job search?
But before you give up Consider taking some time off to completely disconnect from work. Then you will really know whether you just need a break or a permanent breakup.
Pro: More time for remote job hunting
Finding the best work from home jobs is almost a part-time job in itself. So if you're already working 60-hour weeks and constantly stressed, you may lack the energy, focus, and creativity to apply for new jobs .
When you resign, you clear your head and can create career prospects. You can think about your career goals and what you really want to do. You may even decide to change careers or acquire new qualifications that will take time to develop.
Con: You might feel guilty for letting your team down
No one wants to be the cause of problems in the workplace. But if you leave your team, they may resent you and cut their professional ties with you.
Do you want your entire shared work history and client relationships to evaporate? Or would you rather keep these connections within your network?
Resign or resign; the decision is entirely yours. But at least look where you're going before you take the plunge.
Don't quit your job without a plan; do this instead
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If you can't see a way out with your current employer, it's time to make a plan to leave on the best terms possible. Follow these remote job search tips and resignation best practices to do it right:
1. Be clear about your reasons for quitting
You should always discuss aspects of your job that you do not like with HR and management. Together you may be able to find satisfactory solutions, especially if you like your company and your colleagues.
But if you've chosen this path and nothing has improved, you may find yourself at a dead end. Let's say you've tried to negotiate flexible work arrangements but management refuses to allow employees to work from home. There's not much you can do here, and this might be your cue to look for greener pastures.
Other good reasons for quitting a job include:
- Downtown Business, Acquisition/Merger, Corporate Restructuring
- You no longer feel in tune with the company culture, mission or leadership
- Lack of career advancement or development opportunities
- Desire for a career change in a new industry
- Better compensation and benefits
- Resettlement
Any of these reasons are acceptable to the hiring team when they ask why you left your last job. You can turn the negative into a positive that highlights your work ethic and desire to advance in your career.
However, telling the hiring team that you hate your boss or feel bored, stressed, or overworked may not go over so well. You could be labeled a “problematic” employee. And if you quit instead of resigning, your loyalty and resilience could be questioned. This will not work in your favor.
2. Look for these types of remote jobs
What types of jobs are currently available in your industry for someone with your title or experience? Are there many jobs that you are qualified for, or are there just a few of them?
Before you leave the ship, it's helpful to know what you're getting into.
You may need to learn how to decipher the secret language of job descriptions to get an accurate picture here. Keep these three types of jobs on your radar:
1. Stretch jobs or positions for which you may not be fully qualified. They take you outside your comfort zone, challenge you to expand your skills, and help you grow in your career. For example, if you are currently a marketing employee, a marketing manager position would be a challenging job.
Employers are increasingly looking for candidates with diverse professional backgrounds and transferable skills. So you may receive a call back despite your lack of experience.
2. Security jobs that are essentially like a lateral move . This group includes job titles you already have on your resume, tasks you are familiar with, and similar tasks.
3. Commissioned work . If you're not ready to quit your full-time job just yet, consider a side hustle to try out a new industry or career. A temporary job or part-time job could become your main source of income. And it will show you whether you really enjoy this new task.
So why look for three different types of jobs?
Because overall, leaving your current job is worth it when it comes to your career. Security jobs make it easy to exit the job quickly and cause little disruption to your daily routine. And contract jobs can provide serious guidance.
Just make sure you know how to tell a legit remote job from a scam and you'll have a wealth of options to consider.
Do not forget Set up job alerts so that you will be notified when a position is advertised in your industry or according to your search terms. Employers are desperately looking for new employees, and it's better to start applying for jobs that interest you as soon as possible.
3. Brush up on your resume and online reputation
You should always have an up-to-date CV ready. Scratch that; You should always have one few CVs ready.
Career coaches recommend creating a resume template and customizing each version for the jobs you're applying for. When you find suitable job offers, all you need to do is change a few words in your template, save the new version and you'll be among the first candidates to apply.
Going back to the earlier example, you could create one resume for general marketing roles and another for marketing manager or marketing director positions.
Always tailor your CV to the position in question . How do you best do this? Go through the job ad line by line and use the same keywords in your resume. This will help your resume beat applicant tracking systems (ATS) and show hiring teams that you are the right person.
Highlight transferable skills for remote work . You can get a remote job without experience if you prove that you can perform the duties of the position. Try to consider the best technical skills for remote work and you will be happy.
Update your professional online reputation so that hiring managers can find the most accurate information when searching for your name. Make sure your job responsibilities and certifications are current on your LinkedIn page. And consider setting your Instagram or other social accounts to private for now.
Create a portfolio of remote jobs online to showcase your skills on resume. Highlight code you've written, campaigns you've run, or clients you've worked with. Add this link to your resume so hiring teams can see firsthand what you're capable of.
Let your network know that you are considering a career change . Do not publish this information in a post that might reach your colleagues before you are ready to leave. But let your trusted network know that you are available for opportunities, especially if they work for companies you are interested in.
4. Create a termination plan to leave on a professional note
You can't control how your boss or co-workers will feel or what happens at work when you're gone. But you can help minimize the unexpected stress your departure might cause and maintain your good references.
So create a quitting plan that includes:
How you will tie up the loose ends unfinished work or long-term projects. Will you complete these during your two weeks? Do you give it to a teammate? Develop a transition plan so that your employees or customers are not impacted by outstanding work.
Write a formal letter of resignation . Be calm and firm in your tone and express gratitude for the opportunity and what you have learned in your role. Search the Internet for resignation letter templates that you can use.
Let your boss know as soon as you find a new job . Don't put off this uncomfortable conversation. Inform your team as early as possible so that they are not left stranded. Ask to set up a face-to-face meeting with your boss, either in person or via video.
Don't be angry, frustrated or nervous. Just say something like:
After careful consideration, I decided to accept a position that would allow me to pursue my goal of [insert professional activity] as [insert job title]. I am very grateful for the opportunity and everything I have learned here. I want my last day to be [insert date]. Can we discuss a plan to make this transition as smooth as possible?
If you are asked to stay longer than the usual two weeks, be sure to get an official end date in writing. Chances are good that your new employer will be flexible in setting a start date and will appreciate how you manage the transition.
Never quit a job without a plan again
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Experts say fall is the best season to find a new job So let's not waste any more time! Follow this roadmap and you'll be prepared to land your dream field job without sabotaging your professional credentials or reputation.
Are you nervous about looking for a job remotely? That doesn't have to be the case! Check out this guide How to overcome the biggest difficulties in obtaining a remote job next.
