It’s noon, and you are hustling to finish work for a much-needed break. Your breather is right around the corner… For what? To eat a bland sandwich and count the hours down until you punch out. If this is you, chances are, you’ve been having intrusive thoughts about quitting your job. Daydreaming about a whole new life while chewing ham and cheese won’t get you anywhere, though. However, there are a few things to consider before putting in your two-week notice. 

Why Quitting Your Job May Not Be a Simple Decision

It is common for some people to feel trapped in their current position. This can be due to several personal reasons. Perhaps, you have to make ends meet to support your family and crave stability. You might feel insecure because you are underqualified for your dream job. The job market might be trash, so you are afraid to leave. Some people are just good at what they do and don’t want to face the risks involved with quitting their job.

Making a change in life requires ongoing effort. In this case, job-hunting, endless interviews, onboarding, training, and adjusting to a new work environment can be intimidating. The fear of knocking on failure’s door can also be daunting. Nevertheless, if you break down the pros and cons, you might move forward or step back with pure confidence. Whatever choice you make, if you thoroughly think it through, you will be left with zero regrets.

Are You Financially Ready to Leave Before Quitting Your Job?

If you are thinking about quitting your job, you might want to take a closer look at your financial situation. Doing so can ensure you can cover your bills and essential costs. Sitting down in front of your Excel sheet just might save you or your family from financial trouble or serious debt.

Evaluate Your Emergency Fund

If you are thinking about leaving your current position, assessing your financial safety net is critical. Checking your rainy day fund can give peace of mind. However, if you don’t have a contingency fund, you might suffer in an emergency and find yourself calling Mom or surrendering to the credit card. If your current job enables you to save at least 3-6 months’ worth of living expenses, you might want to find a similar position before making your next big career move.

Be Aware of Changes to Your Health Coverage or Retirement Benefits

Does your current position provide health insurance, or do you earn enough to cover your plan? Before quitting your job, analyzing your employee benefits is important. They can have a serious impact on you or your family’s financial security and overall well-being. If you aren’t being taken care of, quitting your job might be on your radar. However, it’s good to compare your current total rewards package against those offered by a potential employer. Key benefits to consider, but are not limited to, the following:

• Medical, dental, or vision
• Mental health support
• 401k, pension, company match
• Bonuses
• Stocks
• Life insurance
• Paid time off (PTO)
• Parental leave
• Childcare

What’s the True Reason for Quitting Your Job?

Are you burnt out from an excessive workload? Maybe you’re underutilized and feeling bored. Perhaps this has raised concerns about job security. Whatever your reason is for maintaining a strong desire to resign from employment, it’s important to reevaluate your decision.

Toxic Work Environment

It is common for some individuals to quit their jobs due to stress and workplace discrimination. According to the Occupational Safety and Health Administration (OSHA), persistent stress can be both mentally and physically harmful to one’s health. Approximately 80% of U.S. employees have reported experiencing workplace stress.

Studies have also indicated that about 50% of U.S. workers allege that their stress negatively impacts their home life. Common workplace stressors that contribute to grief, loneliness, or workplace fear that trigger employee resignation include the following concerns:

• Potential layoffs
• Employee retaliation
• Physically demanding work
• Workplace discrimination
• Poor work performance
• Working overtime
• Daily commute

Stagnant Career Progression

If it’s been a while since your last promotion, you may be experiencing frustration due to restricted career growth. Prolonged frustration regarding this issue may lead to decreased motivation and long-term retention. If you’ve communicated this issue to leadership or human resources, but are still met with limited growth opportunities, it may be time to consider pursuing other job opportunities. 

What No One Tells You Before Quitting Your Job on Impulse

If leadership fails to negotiate improvements or resolve employment issues, putting your two cents in, abruptly walking out of a meeting, and starting your car can seem unworldly satisfying. However, keep in mind that risk management is crucial. Depending on the company policy, you may have to provide sufficient notice to your employer. You may also be asked to attend an exit interview, return company property, or finalize paperwork.

Impulsively quitting your job can bring temporary relief, but doing so often results in embarrassment and serious challenges. You may face a loss of benefits, damage professional relationships, and suffer financial instability. Therefore, you may want to prepare yourself with a polished resume or cover letter before quitting your job. Be sure to have a few offers in hand or secure a new job offer before moving forward.

How Will This Affect Your Mental and Emotional Well-Being?

Major life transitions can have a significant impact on your emotional and psychological health. Whether you have a job lined up or not, fear of the unknown can cause crippling anxiety. Impulsively quitting your job may also result in a loss of routine. You will lose interaction with co-workers and potentially be at risk for isolation.

Adapting to a new work environment or daily routine after quitting your job can also be stressful. Consider reaching out to support systems for stress management. Doing so can help you gain your identity back and develop a greater sense of purpose after quitting your job. Support avenues to explore include the following: 

• Family or friends
• Peer support groups
• Counselor or therapist
• Financial counseling services
• Career coaches
• Mentors or former colleagues
• Workforce development programs

Do You Plan On Quitting Your Job on Good Terms?

Rather than impulsively quitting your job, you may want to consider giving proper notice. For example, you could write a professional resignation letter. Doing so can further protect your reputation and ensure your professional relationships are intact. This is a formal written document that you can submit to your employer to officially announce your intention to resign from employment. If you have never written one before, review the Lawrence Berkeley National Laboratory sample resignation letter for guidance. 

Thinking Carefully Before Making a Decision

Free will allows us to make whatever choices we desire. However, there is much value in thinking a major life decision through. Take careful thought and reflect on all factors involved in your next strategic career decision. Being transparent can ease the transition and support personal closure for a brighter future. Additional things to consider before quitting your job include the following: 

• Upcoming Bonuses or PTO Payouts
• Legal logistics
• Switching industries
• Tax implications
• Non-compete agreements
• Employment contract
• Work samples collection
• Skill development & credentials
• Remote work