Have you heard of the Great Resignation?
It’s where people who have taken the life lessons from the pandemic and weighed up what really matters to them leave their current job for something new.
Are you considering changing jobs? Either because of the pandemic, or perhaps you have always been planning a career change, pandemic or not.
Whatever the reason you’re contemplating leaving your current role to start something new, there are some things that you might like to consider to make your transition to your new life as straightforward as possible and to help future-proof your shift.
It can be scary to move
It can be a scary thing to leave the known surroundings of your current job. Even if you don’t love it, you’re familiar with the surroundings, the people, the politics and, of course, the pay. Leaving the familiar to start somewhere new can seem daunting.
Once you have left your current role, you may feel pangs of regret or fear. You might begin to miss even the most annoying of your former colleagues.
To help with this, it can be a good idea to think about the “why” of changing jobs before you make the move. Revisiting your reasons when you’re having doubts or regret can help.
List the reasons you want to transition into a new role.
- Personal values: You are moving to a new role to live more in line with your personal values. Perhaps you want to work somewhere that cares about the environment, animals, social matters, or even simply somewhere that walks the talk on caring for their staff or community.
- Talents: Your current role doesn’t give you the chance to use your talents. You might have practised and developed talents and want the chance to use them to benefit others. Or you may know that you have more to give but you are stuck in a team that is fixed in its roles and doesn’t offer you growth.
- Education and skills: A new role will allow you to use the skills you have studied. Perhaps you started a career in one field, but you’ve since studied a specific course or degree relating to a different field and your current role gives you no flexibility to use that.
- Work/life balance: Your current role might not offer the work/life balance you crave.
You also need to give some thought to whether it’s just your current role, your specific team or the whole company or industry that’s bugging you. Perhaps you could transition into a different role in another team or department in your current company without having to resign. You will probably also find that HR or your Wellbeing Team could give you some pointers about how you might be able to make it work where you are, or how to package your skills to make employment somewhere else more likely.
Think of the money
Money isn’t everything, but, as Silverchair said, I’d like to see you live without it.
If the new role you’re looking at pays less than you’re getting now (or if you’re looking to leap into a brand new industry and you’ll need to start at the bottom), try living on the reduced salary for a while. Along with giving you experience at what it might be like to spend less money each week, it will also allow you save the extra which will give you a cushion if times get tough.
Your partner may be happy to work additional hours, or you could find another way to make up the shortfall in your income if you need to, such as selling the second car or moonlighting as a tennis coach or maths tutor while you get up to speed after changing jobs.
You’re not alone
Make sure you discuss the change with your partner so they’re aware of your dreams.
They could be completely unaware that you’re contemplating changing jobs! (This is actually more common than you might think.)
Go through your research and plans with them and talk about the reasons you are thinking about a change. They might love the idea of you working in a different field, but could have thoughts of their own that you might need to consider before leaping (perhaps they’re thinking of leaping too!).
In the worst case, it could be confronting for them to hear that you’re planning a big life change. They could be frightened you’ll become a different person to the one they know now. Perhaps they’ve based their hopes and dreams on things continuing exactly as they are. Perhaps they are happy for you to change careers, but they’re concerned about what will happen to your finances and your joint dreams of retiring early. Showing them your planning could help put their mind at ease.
They might also have other suggestions for an area you could work in that you haven’t seriously considered, which could end up suiting you right down to the ground.
By discussing it, you’re opening the door to allow them to share their frustrations, fears and concerns. And you have the chance to share your anxieties and worries, as well as your hopes.
If you’re jumping
When you do decide that changing jobs is the way, make sure you have everything as prepared as you can.
This could include ensuring that your finances are secure and that your super is looking as healthy as possible. If you’re moving to a lower paying role, part of that will naturally mean you’ll receive less super each pay. By boosting your super before you change jobs, you’re giving yourself the best chance of a comfortable retirement when the time comes. Speak to us before you change jobs for all your options.
There are several ways to boost your super before you change jobs. You can make regular contributions from pre-tax money (by salary sacrifice) or from after-tax money. Your payroll can set that up for you. Use the Vary Your Contribution online form to get started.
You can also put in a one-off lump sum from your bank account. Use the Make a Lump Sum Contribution form.
When you start your new job, make sure you’ve updated your contact details with us so we can stay in contact with you. You can do this in the member portal.
Also, make sure your new employer has your ElectricSuper details so they can continue to pay your super in. Your ElectricSuper account has no upfront admin fees and that could save you thousands of dollars over a lifetime.
Whatever it is you choose to do, whether make a change or stay where you are, good luck.