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Most of us have to work to afford our living expenses and save for the future. But not everyone loves their job. Some may be working toward life or career goals while holding a less desirable job. A recent survey found that nearly 1 in 3 people want to quit their jobs. Find out why.
You've probably heard the term "The Great Resignation" over the last year. Many workers are fed up with high expectations, low pay, and minimal benefits. For that reason, some workers are leaving their jobs or are taking steps to find and secure better roles with different employers.
But some workers are still working jobs they dislike, and many want to quit. According to a recent study by FlexJobs, 30% of respondents want to quit their jobs.
FlexJobs also found that 25% of those surveyed had quit their jobs in the last six months. Of those who recently quit, 68% had no other job opportunities secured.
Hopefully, most of those people had an emergency fund to cover their bills until they found a new role. Quitting a job without another job in line can cause financial stress.
What factors make workers want to quit?
What makes employees want to say goodbye to their current employer?
Here are the top five reasons that respondents gave:
- Toxic company culture (62%)
- Low salary (59%)
- Poor management (56%)
- Lack of healthy work-life boundaries (49%)
- Not allowing remote work (43%)
This study shows that employees place a high value on how they're treated, their pay, work environment, and work-life balance.
For many people, it's not possible to quit the job they dislike until a new one is lined up. But many workers are figuring out what they want from a job and the type of work environment that matters most as they search for better opportunities.
Employers are making changes to keep workers happy
Not all employers are set in their old ways. Some are making changes to how they treat their employees. We've discussed companies that increased starting wages and boosted benefits in hopes of getting open positions filled.
Businesses are learning they need to be more competitive to keep workers. If workers realize they can find a better job elsewhere, they will likely pursue other opportunities.
What to do before you quit a job you hate
If you feel unfulfilled in your current job, your concerns and feelings are valid. But it's a good idea to have a plan before you quit. You want to ensure you won't go into debt while you live without a steady paycheck.
Here are some steps to take before you quit:
Ask for a raise. Before quitting your job, see if your employer will work with you. They may be open to increasing your pay, making adjustments to your role, or offering new benefits.
Save for emergencies. If you don't have an emergency fund, now is a good time to do so. You can use extra savings to cover your regular expenses when money is low.
Set a budget. Figure out the total cost of your living expenses, so you know how much you need to make and how much you have to spend each month. Then set a budget and stick to it. You'll be able to stretch your money further and can prioritize your savings goals.
Research benefits and pay before applying for new roles. If you want to leave your current role, research other positions and see what kind of pay and benefits they offer. This can make it easier to negotiate a salary when the time comes for you to consider a job offer.
It's not a good idea to stay in a situation that harms your mental health or well-being. But your current situation doesn't have to be a forever solution. There are other job opportunities to explore and other jobs may work better for your needs and goals.
Money is a big part of everyday life, and how you manage your finances matters. Check out our personal finance resources for additional money management and planning tips.
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