Good day, reader! I know that my last blog alluded to talking about our third investment property, but I wanted to take a pause to sneak a career advice blog into the mix. It’s timely given my current career circumstances, and the third property blog will get some additional seasoning time as we only closed on it two months ago. Sound good? Great, you really don't have a choice... unless you stop reading. Please keep reading.
Let’s get into today’s career topic: if you should you leave your company, how do you do it? Perhaps you want more opportunities for career growth, better pay, or even want to retire. With layoffs happening with greater frequency across the board (including at my own company this week, which I've survived), you may not have a choice. Whether you are going on your own terms or not, leaving a company with professionalism will always be in your best interest. Here are some considerations for how to accomplish the dismount with Simone Biles-level precision and grace.
How much can you bench? One, but I have a picture to prove it.
The Trend Towards Turnover
Americans (like many other countries) have had a dynamic relationship with employment over the years. Post-WWII, the workforce was much different. Besides more emphasis on manufacturing and physical labor, employees generally did not leave companies. In addition, employees often had pensions and other incentives that enticed them to stay put. In modern history, the idea of staying with one company is much less common. In fact, this trend is continuing to point towards more movement. According to the Bureau of Labor Statistics, the average employee has been in their position for 4.3 years. However, it’s clear that the trend is tipping towards more turnover. For age group 55-64, the average tenure is 9.8 years, while the 25-34 group is 2.8 years. Of course, it makes sense that more senior employees will have a longer tenure compared to their younger counterparts, but 7 years difference is substantial! This points to a wider trend of reduced loyalty to companies. And who can blame younger employees for leaving? Many often can get better pay and benefits finding jobs on the open market, and pensions are a rare relic of the past. Plus, are companies loyal in return?
Layoffs
In 2023, it is clear corporations are laying off more staff than in previous years. While it started with tech companies cutting back, it now seems to be spreading to other industries. In fact, my company just did a small round of layoffs after a year of hiring restrictions and offering a voluntary retirement program to reduce ongoing labor costs. While I have never been laid off, I will not pretend I have some kind of invincibility cloak I can offer that will make you immune. However, I do have some ideas on how to make you less likely to fall victim to a layoff:
Make yourself valuable
This sounds borderline ridiculous, but make sure you are providing value in your role. Step up and take on tasks that your leader makes available to the team. Be helpful, friendly, and timely in your work, and make sure your leader can count on you to handle your business.
Take on additional tasks
If your leader asks you to take on another task, project, or assignment, take it. This is not the time to fight for more pay or a promotion. This really hurts to say, but unless it's an egregious ask or is truly something you're incapable of doing, you need to be a team player. When decisions do come down on who to lay off, you will now have extra responsibilities that will make you less expendable. This is a survive-and-advance situation. Once conditions improve, you certainly can go back and try to negotiate, and any good company would find a way to compensate you for your addition efforts on the back end.
Be a decent person
You should always be a good person, but that's really easy to say when times are good. What about when your job is on the line? It can be easy to fall into the gossip train about who's next to go or trash the company to co-workers. However, it's counter-productive. You have every right to be upset and frustrated, but carrying this attitude visibly does not help your cause to stay. Show compassion for your co-workers - whether they are laid off or taking on the additional workload. Everyone is trying to adapt to the new reality. Offer to be a resource to those laid off - if you can vouch for their performance, perhaps connect them to someone in your professional network that's hiring. People will remember those who help them in their time of need, and you may be in their position someday.
Time To Go
Leaving your company is a big move. The process starts with researching and interviewing for new companies. Knowing what you’re looking for – and just as importantly, what you don’t want – will help narrow your focus. Applying for jobs is time-consuming (outside of the “Easy Apply” function in LinkedIn). Being more selective and engaged in your process will pay dividends. By selective, I mean focusing on jobs which you are *mostly* qualified for in terms of experience, education, or industry. For example, expecting to jump from an operations supervisor to a Chief HR Officer probably won’t happen for you. Your engagement matters as well. As my recruiter friends will tell you, showing hesitancy or indifference in the process – even if you’re qualified – may cost you the opportunity to move on. For more interview-specific tips, please check out my previous blog on interviewing!
Goodbye Like A Nice Guy
So you decided to leave: two weeks notice filed, desk is packed, and grocery store sheet cake is decimated. Time to say goodbye to friends and... burn some bridges? As I wrote about previously in a blog dedicated to this concept, don’t do it! You never know the butterfly effect that your actions or words can have down the line. That snarky email to Kenzie in HR may get saved in your permanent file – ensuring you will never work for this company again. Even if there’s no way you’re coming back, what if Kenzie goes to happy hour with your new company’s HR manager, and she hears second-hand about your shenanigans? As much as it may feel good to exact revenge, it will only put you at risk to have it boomerang on you.
As you move on to your new job, the most critical advice I’d offer is leave your baggage at the old company. Your frustrations with poor pay, being passed over for promotions, and the bad boss all must stay behind as you move on: do not bring your war stories to the new company. The “at my old company” stories really get old early, especially when it comes to complaining about work conditions. Honestly, no one cares about where you came from outside of what it brings to your new job. That may seem cold, but it’s true, and excessively talking negatively about the old position will alienate your new co-workers and leader. Use the new role as a fresh start and finds ways to ingratiate yourself!
For anyone impacted by layoffs, I feel for you. Please feel free to reach out to me through the website if I can be of any help, even if just need a place to vent. I wish you well in your journey and hopefully it leads to a more satisfying professional life!