When the pandemic first began in 2020, many were left with little other choice than to quit their jobs due to covid related concerns without anything else lined up for income. The decision to leave the workplace ranged from health concerns to unfair business practices for many essential workers. This may sound like a rather risky move, however it has had an overwhelmingly positive impact on many of their lives.
Many who chose to leave draining or negative careers say they have no regrets leaving behind these toxic work environments and felt less anxiety daily on average. So what are they up to now then? The isolation and screeching halt of society due to the pandemic had many finding new hobbies or pastimes. Some individuals were finally free to pursue passions or education that they didn’t have the time previously. A large number of people spent more time than ever before alone and indoors and may have found themselves in an introspective state leading to self improvement or the craving for more in life. This itch gave plenty the confidence and drive to take steps in finding contentment in a new career or educational path. The stress left workers to wonder whether there was a better way to live more authentically, including in their careers.
What many are calling The Great Resignation, as many as 4.3 million Americans left their jobs as of August 2021. Americans were throwing in the towel with no back up plan to preserve their physical and mental health. Meanwhile the job market seems to be coming back with a roar. Over 500,000 positions are listed as open to be filled as of october 2021, however many applicants report applying to countless entry level positions to no avail. This has led to speculation that corporations are stalling and only appearing to be hiring in an effort to keep wages and benefits meager and save in costs despite the cost of living steadily exploding higher and higher. Many businesses have made news in reporting workers are “unwilling to work” although the real cause for lack of applications may be due to unfair wages and culture. Despite this outcry from some employers, the unemployment rate has dropped to 4.6% – an all time low since the pandemic.
If you feel the call to leave your current career or already have, here are a few guidelines for an easier transition and to protect your financial security:
- Before taking the leap of faith to leave your job to satisfy your passions, get financially organized with a comprehensive budget and income needs.
- The cash you have previously saved may have to stretch farther than you thought, so try to be thrifty when you can and budget at a slightly higher rate than you actually need for padding.
- Make sure to go to the doctor, cash out any PTO or 401Ks and use any other benefits while you still have them before leaving your current position or job.
- Use your paid time off before submitting notice if possible!
- Find a community for your passion or next endeavor to become involved in.
The workplace norms of 2021 are changing rapidly. Ensuring yourself to a balanced and healthy mental & physical health is paramount in the preparation and retention of both financial and personal security.
