8 Reasons to Leave Your Job

Sometimes, leaving your job might be better for your career than staying on. Take the time to assess your current situation and think of the plan ahead before quitting.

Leaving your job might seem like a daunting task. However, under certain circumstances, quitting might be beneficial for you. As of 2024, 88% of professionals in India are considering a new job.* Some of the common reasons are work-life balance and higher compensation. Several professionals also consider leaving their jobs to upskill themselves. Education not only adds more skills but can also help one find their purpose. As per one LinkedIn study, 8 out of 10 people say that learning adds purpose to their work.^ With several learning options like online master’s degrees, professionals can create a more flexible schedule by balancing their time off work between learning and personal commitments.

What might be some good reasons to leave your job? You might want to consider these before you make a decision: 

1. Financial losses in the company: If your employer is going through severe financial losses for a prolonged time, it is unlikely to have a smooth turnaround. Such companies might get bought over if there is still some value to the market, or in a worst-case scenario, the company's promoters might declare bankruptcy. If you find yourself in such a situation, read on below to find out what options you can consider after you leave a job.
2. Mergers & Acquisitions: Company restructuring is common during a merger & acquisition. Moreover, such deals also bring consolidation to different functions. This can be a good time for you to reassess your role in the organization and explore new options.
3. Work environment: Some work environments can become difficult for certain people. You might be great at your job; you might even have the right skillsets to grow in the organization. However, sometimes the environment, including a toxic workplace, long work, or commuting, can leave you zapped from the energy you require to perform well.
4. Economic downturn: Recessions and economic black-swan events can make it difficult for several employees and business owners to stay afloat. Taking a different route during an economic recession can help you find alternate career opportunities like entrepreneurship.
5. Career Change: If you are considering a career change to a different industry, a career break might make sense to help upskill yourself. You can consider an online master’s degree if you are ready to invest in a specific industry or career pathway.
6. Family Circumstances: If you need to move cities to support your family members or need a full-time caregiver, you might consider a job that allows a more flexible schedule. You might be able to build your skills during this time and leverage it for a future career prospect.
7. Better Compensation: One of the most common reasons to leave your current job is for better career prospects or better compensation.
8. Finding Purpose: Job satisfaction goes beyond reasonable compensation, optimal work environment, and good managers. Sometimes, finding a purpose in your life through your career is also critical to finding job satisfaction.

Consider why you want to quit your job:

While there might be several reasons to leave your job, it is a good idea to reflect before you make a decision. When you start a new career opportunity, your employer will typically ask you why you chose to leave your previous job. Having a clear and compelling answer to this is essential.

Consider a simple question to ask yourself before you make the leap: “Am I quitting my job because I want to find a better opportunity, or am I just running away from my current job?” While it might seem similar, these are two very different reasons.

The first reason is towards a more positive outcome. You want to find a better career prospect or start your own venture. You might even consider gaining the relevant skills before you make the switch. A degree in business administration can be beneficial to help you understand how to start, run and grow a company.

On the other hand, if you are only concerned with leaving your current job, take a moment to reflect. If you are only leaving your job because you don’t like your current work, find out why this is the case. Is it a toxic workplace? Have you been stuck in the same role for a long time without any good opportunities? Then, consider if you have thought of some solutions in your current situation and eliminate any methods that have not worked out. This is an important exercise. Every new opportunity comes with some pros and cons. Understanding why you want to leave your current job will help you avoid similar situations in the future. Consider some of these solutions:

• Is your workplace too toxic? Speak to your manager or an HR professional, state your concerns and try to work out a solution with them that works better for you.
• Are you stuck in the same role? Speak to your manager and voice your concerns. You can even work out a learning plan with your manager to upskill yourself for more challenging roles. Consider an online master’s degree in your area of interest. This will help you balance your learning without needing to quit your job.
• Do you lack work-life balance? Try to chart out a typical day in your life and list down all the activities or tasks you need to undertake, along with how much time you need for each. This exercise will help you highlight any functions that can be automated or delegated to your team. You can even have a chat with your manager to plan out a better schedule for you.

Consider Consulting and Volunteer Work:

While you choose your next opportunity, you can consider volunteering as an excellent way to contribute to society and the economy. Look for a cause that you can relate to. You might consider specific causes like climate change or children’s education. You can look for opportunities that align with your current career. For example, if you work in law, you can consider pro-bono work. Tech professionals can consider working as volunteers for charitable or government organizations. On the other hand, volunteer work is also an excellent way to explore a new career opportunity like writing or teaching. Students who wish to work or volunteer part-time can consider online bachelor’s degrees to complete their education and gain experience at the same time.

You can also consider part-time consulting work if you need some more time before taking the next step in your career. Consulting jobs are a good source of income and can even help you diversify your industry experience. They can also build your network and a solid personal brand.

Also Read: Want to inculcate a growth mindset? Get started with some motivational quotes from leaders.

Start your own venture: 

Starting a company can seem exciting and daunting at the same time. Here are some factors you should consider while starting your own venture:

• A clear business idea will help you chart out your vision, what funds and resources you require, and how you plan to achieve your goals in time.
• Define the market requirement for your solution and the size of the market.
• Take a look at competitors in the industry and their histories. This can give you a good idea of the typical challenges faced and how players have combated them.
• One way to gain more confidence while building your company is to get a degree in Business Administration in Entrepreneurship.
• Consider speaking to investors while you are still in your job to help you get some funds to kick-start your venture.

Invest in your education 

As markets evolve rapidly, professionals need to keep learning and upskilling themselves continuously. Education can help you keep up with new technologies and challenges in your field or even advance to a new industry. Setting a clear career goal can help you engage with learning four times more than without any goal.

If you feel ready to take the next step, explore some online master’s or bachelor’s degrees from SNHU and get an education from the USA without the need to relocate.

References:

*LinkedIn Study: https://www.peoplematters.in/news/recruitment/88-working-professionals-are-eyeing-new-job-opportunities-in-2024-linkedin-40012

^LinkedIn Workplace Learning Report 2024: https://learning.linkedin.com/resources/workplace-learning-report