Do your research before quitting your job and evaluate aspects such as your possible new employer’s work perks, future workload, and skill development chances. Picture: Pexels
If you are looking for a fresh start in 2024 in terms of your profession, there are some things to consider first.
With the end of the year approaching, many people are analysing their employment prospects and debating if now is a good time to make a career move.
One may feel suffocated in their present role, hesitant to return to the office after working from home, or fed up with unpleasant work relationships and micro-managers.
Changing jobs, on the other hand, is a huge undertaking. Its influence extends well beyond the job and the prospect of a greater income.
So, do your research before quitting your job and evaluate aspects such as your possible new employer’s work perks, future workload and skill development chances.
This is according to the marketing manager at JustMoney, Shafeeka Anthony.
“You may be enticed by a higher salary, but keep in mind that this could entail moving into a higher tax bracket, a longer commute, or less downtime with family and friends. It’s vital to consider multiple factors before giving notice,” said Anthony.
She offered 10 tips to consider before you resign:
Timing
Instead of a career change, you may need a vacation to gather perspective. Determine the source of your discontent and make a decision when you are comfortable and recharged.
Goals
Think about your long-term personal and professional objectives and see if the new employment matches with them. To make an educated conclusion, seek the advice of a mentor or trustworthy advisor.
Current contract
Examine the small print of your existing work contract. Consider restraint-of-trade agreements, which prohibit you from working with a competitor firm or with present clients for a specified length of time.
Company benefits
Examine the whole remuneration package on offer, which includes medical benefits, retirement benefits, bonuses, company shares, and amenities like an in-house gym. When making financial decisions, it is best to talk with a financial planner.
Corporate culture
Learn about the culture of your potential workplace. Check the corporate website for information, read media stories, and look at social media reviews.
Tax implications
Consult a tax specialist to ensure you’re up to speed on tax rules, especially if you're thinking about moving abroad.
Work-life balance
Determine the anticipated workload and working hours. Will working longer hours and travelling more have an impact on your personal life?
Professional development
What new skills and experiences are you hoping to gain? Does the employer pay or compensate additional research?
Job security
How stable is the new firm and the industry it operates in?
Emergency fund
Make sure you have enough money to cover your living expenses for at least three months. A new employment deal may involve unforeseen fees, or it may not fulfil your expectations.
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