When is it Time to Find a New Job?
When the economy is in the doldrums, many of us look at the silver lining, i.e., to have a job and overlook the negatives associated with the job we hold. When times are better, moving from one job to another becomes a relatively common activity. People change jobs for different reasons; this post will look at some of the primary drivers of such a decision (I am not counting people leaving a job to start their own business).
Lack of Career Advancement
There are some jobs that could be classified as dead-end ones. This is probably common in small firms (say, <50 employees). As an example, someone hired as an administrative assistant or accountant can continue for decades in that position, assuming the company is still around. A small firm is unlikely to have an administrative supervisor or accounts manager position on their payroll. So, it becomes difficult for the person employed in the role of administrative assistant or accountant to rise up the corporate ladder in that company despite several years’ experience. Boosting one’s qualifications may help but chances are good that the employee can get a better offer elsewhere with their newly-attained degree/diploma.
Some people may prefer to stay despite lack of career growth for several reasons such as an extremely likable work culture, friendly co-workers, no corporate games, proximity to home, decent wage/salary and benefits package, etc. Of course, I am overlooking certain extraordinary cases where an accountant in a small firm could get an MBA and be/become good enough to lead the company.
Lack of Mental Stimulation
This one is probably related to lack of career advancement but sometimes, getting a promotion may still not throw up enough challenges and some people need them to thrive. Doing routine tasks without any hope for something new to stimulate the brain cells can drive some people to their breaking point and such employees are liable to jump ships in search of more challenging work.
Sometimes, people may realize that they do not like their area of expertise and want to shift tracks (think a chemist with an aptitude for sales). However, the present company may not need a new salesperson or be willing to let go of a good employee from his present (chemist’s) role. In such a scenario, the employee is left with no choice but to seek employment elsewhere.
The path of changing professions would be made easier for the employee if he can train in his desired field at the present company, as it is harder, though not impossible (with transferable skills), to land a job in a new field of expertise with past experience in a different one.
Unhealthy (to the body and mind) Work Environment
Certain jobs can be taxing physically – people with knee problems can find it a struggle if their job involves climbing a set of stairs multiple times every day. There are other jobs where the mental stress can push people to the edge – constantly attending (mostly useless) meetings, unending lineup of project deadlines, having to fire people, dealing with obnoxious co-workers and backstabbing, etc. could all be contributors. Such work environments are not worth the physical and/or mental stress and employees typically bolt before they do irreparable damage to themselves or someone else.
A spouse getting transferred or having to move cities to be close to a newly-found loved one are also common instigators of a job change.
Irrespective of the cause, employees looking to change jobs would do well to line a new one up before giving in their notice and leave without burning bridges.
How has your career journey been? Did you change jobs for one of the reasons mentioned above or did I miss any other common causes? Did your new job take the same path as the old one giving you a sense of deja vu?
About the Author: Clark works in Saskatchewan and has been working to build his (DIY) investment portfolio, structured for an early retirement. He loves reading (and using the lessons learned) about personal finance, technology and minimalism. You can read his other articles here.