Tired of your current Job? Is the contract expiring soon? Thinking of renewing the contract or finding another one? Found another job that pays more than the other? Wishing to quit your job? Are the working conditions no longer favorable? Wish to start your business?
Whichever reason it might be that demands finding another job, you need to decide whether you get to find another job first before quitting or quit before going to the labor market to search for work.
This is what we will be talking about today and we will be backing up whatever decision we make out of the two with reason.
It is important to note that before you think of quitting your job there must be reason. Either you are no longer comfortable with the job or you have been given time to search for another as the company will be dropping some persons or just maybe you are on probation. It might also include that the work pressure or load is getting too much.
Other reasons might be family issues which are personal, Unhappiness at work, different carrier paths etc. There are several questions you should consider when thinking about the subject matter and they include: What is the risk of losing my job?, what do I stand to gain when I leave my current job, Should I quit before thinking of finding another? How urgent is it? Is it even necessary to quit? Will I find a job like this quickly or better than this or one related to my new carrier path etc.?
Should I Quit my Job Before Finding Another One?
In this case, we are going to answer this question using two terms, which is the ADVANTAGES and DISADVANTAGES of Quitting a Job Before Finding Another One. So, after knowing the advantage and disadvantage of this, you will then analyze within yourself if it’s a good to quit or not.
Advantages of Quitting a Job Before Finding Another One
- More Time To Find A Job
- More Flexibility
- Time To Grow Off
- Focusing On Starting A New Business
- Taking A Sabbatical Leave
- Protecting Your Mental Health
More Time to Find a Job
This is an advantage which helps the individual have more free time as his or her working week will turn to one. This is where you can use your free time to perfect your resume and also network with others outside your former workspace.
This is where you have time to go for a scheduled interview because in scenarios you where you were working you will have to take permission to go for an interview which might not be accepted. So it gives you the flexibility to work on your own scheduled time without having to think about permission taking
Time to Grow Off
This is a time that the individual uses to develop his skills in order to keep his CV updated. You can learn a new skill, get more certifications, and even launch new websites.
Focusing On Starting a New Business
This is where the individual utilizes his entrepreneurial skills. Here he ventures into business either building it from scratch or taking it from one level to another. Some business demand time and personal appearance which is better for the individual as he or she is yet to find a job.
Taking a Sabbatical Leave
This is taking time off work in order to come back more productive on resumption. If your company does not have an extended leave policy there you can quit helping you travel or volunteer for any humanitarian services
Protecting Your Mental Health
In situations where you feel you’re working at the detriment of your mental health, you need to give t a break or break free. This protects your mental health and keeps you in one piece. Situations where you have been questioned about your abilities while you giving your very best don’t make you
Other disadvantages include
- Protecting Your Physical Health
- Protecting Relationship
- Protecting Your Own Safety
- Correction of Professional Attitude
- Studying For Carrier Change
Disadvantages of Quitting A Job Before Finding Another One
- Financial Instability
- Gap In Employment History
- Increased Stress
- Limited Negotiating Power
- Impact Of Future Job Prospects
- Loss Of Networking Opportunities
Without a new job lined up, you may face financial difficulties due to a lack of steady income. If you didn’t have a side hustle or another source of income you might regret leaving your job at first as it was paying the bills.
Gap In Employment History
Potential employers may view a gap in your resume negatively, raising questions about your commitment and work ethic.
They might seem to judge you wrongly that you couldn’t hold on to the job you had and couldn’t get another because of your incompetence
The uncertainty of not having a job can lead to heightened stress and anxiety. This sets in whenever the places you had hopes are being dashed to the floor and you seem to start from nowhere.
You will be emotionally disturbed and the stress and anxiety attached to this might even be more than the very reason you left your job
Limited Negotiating Power
When searching for a new job while unemployed, you might feel pressured to accept offers that are less favorable in terms of salary or benefits.
All because you need something to do immediately, you will accept whatever you even when it is less than your former pay
Impact of Future Job Prospects
Quitting without a backup plan could potentially affect how future employers perceive your decision-making and commitment to your career.
Most employers need persons who are smart, intellectually sound, and handle any shortcomings of the company. Telling them of your decision of leaving your former before securing a new job might paint of picture of you being incompetent in your decisions
Loss of Networking Opportunities
Being employed can provide more networking opportunities and connections within your industry. Some employers prefer candidates who are currently employed, making it harder to secure certain roles.
Other disadvantages include
- Reduced Job Options
- Strain On Personal Relationships
- Loss Of Benefits
- Self-Esteem And Confidence
- Potential Relocation Challenges
- Emotional Toll
- Potential Dip In Carrier Progression
- Impact On Credit Score
- Unemployment Stigma
- Loss Of Routine And Structure
This article covers the advantages and disadvantages of quitting a job before securing another one.
In my description, I strongly recommend finding or securing another job before quitting the former. As the things you stand to lose is more than what you stand to gain except you want to venture into entrepreneurial skills like business etc.