Is Now a Good Time to Quit Your Job?
If someone told you the pandemic would make resignation rates reach an all-time high, how would you react? At the height of the pandemic, you probably would have laughed at them. Steady jobs were hard to come by, and people seemed to cling to their jobs as if their livelihoods depended on them.
While that was the case for a few months, the tides are changing. More people are considering resigning their jobs, and you might have the same thought. Find out whether or not you should quit your job or wait for another time.
Mass Resignation
Over the past few months, resignations have been at an all-time high. In fact, there are more people quitting now than there ever have been in the past 20 years. People aren't hesitating to leave their jobs and move onto different things.
Although most people turn to the US Department of Labor for information on unemployment, there's another resource you can turn to. The Job Openings and Labor Turnover Survey also shows job opening data, and the results from April 2021 were interesting. With job openings increasing to 9.3 million, the survey revealed that jobs are in abundance.
Only one year ago, you could spend months looking for work and not having any interviews. Now, the opposite is true. Companies are so desperate to hire that they make hiring decisions on-the-spot.
Finding the Job You Love
The reason for this mass resignation is the high job availability. If you don't like your job, quit and find a better one. Sectors that suffered during Covid now have the most job openings. Job applicants can afford to be picky, and employed individuals can give ultimatums.
While some people are quitting to work in New roles, others resign to find remote opportunities. The pandemic made people realize all of the benefits of working from home. If employers don't offer remote work as an option, the employees can leave and work elsewhere. The market male's it possible for people to be picky.
Embracing the Fragility of Life
The mass resignation isn't only because of the huge quantity of job openings. It's also a result of the current mindset of Americans. In post-pandemic times, people realize how fragile life can be. At any moment, something can change your life forever.
Instead of continuing on with a dead-end career or settling for mediocrity, people want to spend time doing the things they leave. For instance, you may want to pursue your dream job or spend more time at home. If quitting your job allows you to be happy, you're much more likely to do that now than you were before the pandemic.
From a distance, life might not look much different now than it did two years ago. But the pandemic made an indelible mark on society. Generally speaking, people are no longer content to take whatever job they can find. They want jobs they love, and this often means making a career change.
Switching Careers
The pandemic also allowed people to take time to explore other industries. If you were unable to work for any amount of time, you might have taken online classes or bootcamps. Your new knowledge base could be your ticket into a new industry.
Even if you didn't have much free time during the pandemic, you may have realized the availability of online resources. There are enough free and paid courses available for you to easily transition to a new industry.
Should You Quit Your Job?
This is a question that only you can answer. Although there are plenty of jobs available, you shouldn't necessarily quit. You could end up moving from one job you hate to another job you hate. Or, you might end up taking a pay cut for a position that has no longevity.
Before you decide to quit, spend time thinking about what you want. First, consider your mental health. Does your current job make you depressed or anxious? If so, it's probably a good idea to start looking for a new job. You either need to work for a new employer or a whole new industry altogether.
Secondly, consider your future goals. How does your occupation play into those goals? Although you might want a certain job, it's possible you won't be able to achieve your personal or professional goals with that job. In addition to worrying about your current state, you need to make sure you account for the future.
Finally, consider your salary and benefits. A few months ago, you needed to accept your pay rate and your health insurance. However, now is the time to negotiate for better terms. If you're underpaid or underappreciated, look into working for other companies. At the very least, approach your boss about getting a raise.
Words of Warning
Quitting a job is exciting, and it's easy to get caught up with a fantasy of your dream job. However, you should be ready for the consequences. You won't always find work right away. Even with such a hot job market, there could be a period of three months before you get a job offer. Then, you still need to wait for your first paycheck.
Before you quit, try to line up a new job. If that's not possible, check your budget. Make sure you have enough money to last you through the job search. Failing to prepare for the financial aspect of the job hunt could force you to take a job you don't want. In the end, you'll be even worse than when you started.
Take the Plunge
Are you ready to find a new job? Before you quit, test the waters. Start searching for jobs in your industry and see what you come across. When you're ready, send in a few applications and go on a few interviews. You might not have success right away, but practice makes perfect. After a few applications, you may even have a job offer.