How to know when to quit a job

When jobs are scarce, the idea of quitting your job might sound daunting. But millions of currently-employed Americans are considering making a move. According to a January report from the Conference Board, Americans are less satisfied with their jobs than ever before.

The report states that only 45% of Americans are satisfied with their jobs, and only 51% of Americans find their jobs to be interesting – both of these totals are the lowest in the 22 year history of the survey.

Are you part of this dissatisfied American workforce? Are you looking for a change? If so, here are some ideas on how, why and whether to quit your job.

• What is your exit strategy? If you’re going to quit your job, it’s best to give it some thought and advanced planning, rather than just storming out of the office one day in a huff. Do you know what kind of work you’d like to do next? Unless your job is driving you to the brink of clinical depression, you’re better off waiting to quit until you’ve found a new job. Set a schedule – give yourself six months to find a new job. Set measurable goals along the way – “By the end of this month, I will have sent out 10 new resumes and contacted 5 former colleagues for networking meetings.”
• Bulk up your cash savings. Most financial planners recommend that you have at least 6 months of take-home pay in an FDIC-insured savings account – aside from your retirement savings and other investments. Do you have it? Especially if you’re going to need to finance your own job search, you might want to have more than 6 months of pay saved up before you jump ship. Make every effort to scrape together as much cash as you can – temporarily stop contributing to your 401(k) and put that money in the bank instead.
• Don’t quit your job – get fired. If you hate your job, if your relationship with your manager has deteriorated beyond repair, and you’re basically twiddling your thumbs each day waiting to get fired…then getting fired might actually be the best thing that could happen to you. It sounds odd, but it’s true – if you want out of your job, you’re usually better off getting fired. Unless you’ve committed egregious misconduct, you’ll be eligible to draw unemployment benefits while you look for your next gig. Especially if your company is struggling and has announced that there will be mass layoffs on the horizon, don’t quit your job; check to see what kind of severance package you might receive – no matter how miserable your job is, you can hold on for a few more months in exchange for several months (or more) of free money and benefits.
• Find something to “run to.” It’s easy to decide that you hate your job and want to run away from it as soon as possible – but don’t just “run from” something, give yourself something good to “run to.” If at all possible, try to find a great new job before you give notice. Or start consulting or freelancing or start a side business. Find something outside of your day job that can give you energy and momentum to work toward your next career move.

 

Ben Gran is a freelance writer based in Des Moines, Iowa. He is an award-winning blogger who loves to write about careers and the future of work.
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