Quit is not a four letter word
Are you are a C-Level Executive, Management or a team member with a valuable skill set who has contemplated quitting your present job?. Do not be alarmed you are not alone. Many employees like yourself often ask themselves the same question. Should I quit, find another job that is less stressful with more job satisfaction and flexibility.
However, the research shows that many people stay in their current roles and companies for many years. In some instances for their entire career even though they are unhappy and refrain from moving.
The reasons could be one or more of the following:
· receiving a steady pay check,
· waiting to maximize their pension payout
· hope for a severance package.
This creates inefficiencies in the workplace and the level of productivity declines and could also affect the morale within the department or the organization.
We are noticing that many baby boomers are exiting the workplace for a number of reasons from all sectors either voluntarily or involuntarily. Those who voluntarily exit are more fortunate as they were employed for longer terms by larger or more established corporations. These individuals have a company pension plan in place which allows them the option to retire early and still continue working part-time or to volunteer.
Many baby boomers who are involuntarily exiting the work force due to downsizing, right sizing or are laid off for any other reason have other issues to contend with. They may find themselves scrambling to find alternate employment in order to pay their bills. Many have to use their savings once their severance package and employment benefits are depleted.
Many are less fortunate and do not have investments to fall back on. These individuals find themselves setting themselves up for failure trying to find a job any job, frantically networking to market their services, trying to upgrade their skill set or getting retrained for a completely different job in a new industry which can be extremely challenging.
Sadly, many of these individuals including those who have held Executive and Managerial roles in Finance and IT who are extremely competent in their area of expertise, realize that marketing and business development are not their biggest strengths because they were dependent upon the specialists who supported those functional areas in corporate organizations.
Many are not able to retire or stop working unless they had a financial advisor helping them to obtain above average returns on their investments and guidance as how much money they needed to save for retirement to maintain the same standard of living.
In our competitive economy and as advanced technology evolves the baby boomers are the most vulnerable to lose their jobs for obvious reasons. They often become unemployed indefinitely without the necessary skills to land the next permanent role because their skills are not transferable. They may have to work part time, or on contract until they find a more suitable role.
Unemployed baby boomers are finding the job market very competitive and often have to accept much lower salaries. Once all their options are exhausted some resort to self- employment although it can be a huge financial risk.
To QUIT is the easy way out, however, it is not the best decision as it could have many negative connotations both personally and professionally. To keep things in perspective always try to keep yourself motivated and marketable by doing as many of the following things on a daily basis:
- Stay positive and communicate with people inside and outside of your network.
- Put a business development plan in place with timelines and try to utilize social media.
- Always network and get your resume to as many people and companies as possible.
- Time management is key as your job search is a full time commitment.
- Maintain a healthy diet, stay active and frequent the gym if possible.
- Make sure you have adequate sleep.
- Try to lead a balanced lifestyle.
- Volunteering is good and also expands your network.
Unemployed individuals often get frustrated and disheartened when they are rejected multiple times during the interview process. The key success factor is to try to narrow this transition period between jobs as soon as possible.
Your top priority is to land the next role quickly and become the winner you are once more. Persevere, remain positive, stick to the basics and I am confident that you will be successful again!
Author: Norman Son Kee, Principal, Innosight Consulting Group.