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5 things you must consider before you quit your job

By Sanjoe Jose
April 21, 2015 09:32 IST
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Do not quit for money.

Do not quit because you're given a better role.

Analyse all options and make a wise decision.

Think wisely before you quit your jobAn attractive compensation coupled with attractive joining bonus or a career progression in terms of role and designation is something that you have been vying for since eternity.

The pull factor is resonating enough to make that hurriedly called decision that may have sounded legitimate, but changing your job or company requires proper planning.

The transition could have bottlenecks, pitfalls and for all you know, your sole objective of change may stand defeated.

Do some soul searching and answer the set of questions that you probably detested answering in your present organisation.

Here, Sanjoe Jose, CEO and co-founder, Talview.com, an online video interview platform, highlights few factors you must consider before taking the plunge.

1. Green bucks

Money is prime but is it the only parameter you have deliberated while making comparisons?

It is quite possible that you have had lot of opportunities to go one up on your compensation but the performance wasn’t satisfactory to let that happen for you, whereas in contrast your peer level has gained considerably on money front.

If you feel left out, it might not be different at a new work place, since the parameters to gauge your performance could well be the same and a year later you are due for another switch and so on.

Do not quit a job merely for the money.

2. Career progression

You would assume that the opportunity that has knocked at your door is a career progression and would be a combination of set of responsibilities that you aspired for.

While that may be true, do you possess the capabilities to deliver what is expected of you in the new role?

Have you been trained to shoulder a larger gamut of responsibilities in your new organisation?

Several times, when you address the question to yourself, the answer is not affirmative.

In such cases, consider the career path in your present organisation. 

See if it is conducive for learning.

Find out if you have been casual in your approach and shrugged those opportunities away?

If that's the case, it’s time you consider doing better in your current job than taking up a role you're not prepared for.

3. Downsizing

The economic scenario is quite volatile; we are gearing up for another recessionary phase after the low we saw in 2008.

The recovery has been marginal and the recent times are not conducive to make a transition.

If you make a change you might run the risk of elimination by the golden rule of LIFO (Last in first out) whereas with your current employer you enjoy a good working relationship and if your performance has been consistent, they might retain you in difficult times.

Think wisely before you delve into something serious.

4. Emergence of a new sector

It pays to have a first mover advantage and yes moving into new industry sector that looks promising should be good choice to make that necessary transition.

Did you research well what lays in store for you?

The late 90s saw the dot com boom and eventual burst of the same.

Similarly retail was supposed to be next big thing after telecom but it also met up with a similar fate.

After early setbacks the sectors have started seeing an upward trend but the approach is much more balanced and for sure that initial fizz it generated is missing.

You have to evaluate and envision whether the emerging sector can hold its ground for a sufficient time.

Is the customer ripe enough to lap upon the offerings by the sector?

Also, evaluate the environmental, statutory or for that matter, whether government regulations could give it a smooth run.

If you have any doubts, reconsider your decision.

5. Entrepreneurial obsession

Why work for someone else when I can be my own boss?

The question may ring like a sweet bell in the ears and that too constantly.

It is generally observed that if one is managing couple of people down under or is a individual contributor par excellence or has grown up to senior middle management position, s/he tends to get distracted and wishes to stand on his own.

S/he sees the glorified picture and assumes all is green and takes on that bigger challenge to set out for a journey -- to build his/her own empire.

The adage 'All that glitters in not gold' holds very true in the situation.

Do a reality check and if you are convinced you have all that takes to become a successful entrepreneur, make sure you have the relevant resources and finance available at your disposal to make the killing.

If none of the above works for you, stay in your current organisation and find out how you can improve your performance and become a successful intrapreneur.

Illustration: Uttam Ghosh/Rediff.com

 

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