Resignation is one of the most important decisions you make in your life, that too more than once. Deciding when it’s time to move on is a deliberative process.
Perhaps, you have reached the ceiling in terms of growth. Or, your discontent with the job and environment has grown to the point where you’re ready to resign.
Whatever your reasons, it’s important you take some time to reflect on this and discuss it with those your resignation may impact, such as your family.
Here, we delve into the most important things to consider ahead of an impending exit so you avoid the added challenges should you need to withdraw your resignation.
1. Confirm your financial stability
If your experience at work has deteriorated so much that you’re ready to leave it all behind, it can be tempting to simply hand in your notice right away. However, this snap decision could land you in a problematic monetary bind.
Rather than rushing into the decision, ensure you have a solid grasp of your finances — factor in mortgage repayments, insurance premiums, childcare costs and other bills. At the same time, anticipate your job hunt could last longer than expected.
Then, look back at your current savings and estimate the number of months you can get by without an income.
2. Research the market outlook
Leaving your job behind is a big decision, especially when the market outlook is uncertain. While you may have grown frustrated with your current position, resigning just before an industry or economic downturn could prove unwise.
While it may be impossible to predict the future, research your future prospects and chat with colleagues about their thoughts on the industry’s short-term outlook. This might prevent an extended period of unemployment where you’re increasingly desperate for work.
3. Weigh up the benefits
There’s no shortage of reasons that might make resigning from your job the right decision. For example, you might be dissatisfied with your income, professional development or challenging work hours that don’t suit your lifestyle.
If you’re confident in your ability to quickly find a new job, backing yourself to resign and soon put yourself in a better position might be the dream move. However, you might discover that the benefits of leaving your job don’t outweigh the potential risk.
4. Look for the bright sides
Almost every job has aspects that people find frustrating. You might work longer hours than you’d prefer or think you’re underpaid and overworked compared to your colleagues. Yet before resigning from your job, it’s wise to consider what upsides, if any, exist.
For instance, you may have great rapport with your colleagues, or the projects you work on bring you outstanding job satisfaction. Are these positives enough to stay? Only you will know.
5. Reflect on your career goals
Resigning from a position at the wrong time could harm your career prospects. If you’ve only been working in a job for a relatively short time, leaving it behind might mean you have an awkward spot on your resume to explain.
If your industry is particularly tight-knit, unexpectedly quitting could cause colleagues to talk about your reliability as an employee. While these factors shouldn’t stop you from quitting a role that makes you unhappy, it’s crucial to ponder the ramifications.
6. Consider your health and well-being
Your health and well-being should always be the top priority. Instead of letting your condition deteriorate from the pressure of your position, resigning for a role that is less stressful might be the best decision for your future.
Conversely, leaving behind a job without a new role lined up can make you feel depressed and isolated in the face of an uncertain job hunt. Reflect on your health and well-being prior to making the final decision.
7. Backup what you need
If you’ve decided to resign from a job, recognise that you might instantly lose access to your work computer upon handing in your notice. This means you need to back up all your personal files and information before announcing to management your decision to resign.
Creative practitioners might have valuable project documents that allow them to build a stunning portfolio. Meanwhile, there might be useful contact information for people in your network. Avoid confidential information, but back up whatever information you have the right to take.