The Great Resignation
By now, we've all heard or read about "The Great Resignation." Every day mass numbers of people are quitting their jobs, sometimes with nothing else lined up. Following the pandemic, the workplace is changing and employees have new expectations for what they want and need from their employers. They want more flexibility, autonomy and freedom. If this sounds like you, and you're considering leaving your job without another job lined up HIT PAUSE. Consider these three things before you hand in your resignation letter.
1. Are you financially stable enough to walk away from a steady income?
Experts suggest having at least six months of expenses stashed away in savings. Your 'emergency fund' will now become your 'everyday fund' and you need to have enough saved and then some to cover your bills.
Also consider your debt. How much do you have? Before you quit a job it is important to pay down as much debt as possible. It could be weeks or months before you find another job and without a steady income, those debts could accumulate quickly!
2. Consider the benefits you'll be walking away from.
Healthcare is expensive. If your current job provides you with health, vision, and dental insurance remember, all that goes away a few weeks after you resign. Of course you can register for COBRA, but that is expensive! Make sure you have a way to get your monthly prescriptions or cover the costs in case of a health emergency.
Also-don't forget about your 401k. A lot of employers match after a year or so of working for them. Are you willing to give that up?
3. Maintain a good relationship with your current employer.
Do not, I repeat, DO NOT leave on bad terms. Always leave a job on a good note. You may think when you resign that you'll never see anyone you work with again, but it's a small world and your reputation follows you. Do your very best to remain amicable with your current boss, coworkers and the company as a whole. You never know where the future will take you and having a pristine reputation is priceless!