Joining the "Great Resignation" or "Long Resignation"

So you have probably heard this term being used widely by the press. So what does it mean for you? Should you join this? How can you resign?

Around the world, the media is reporting that large numbers of people are looking to leave their jobs to either find other jobs, retire or pursue a business or passion. With a tighter labour market, this means potentially more negotiating power for those people that stay in jobs. One of the largest changes over the last 2 years is that many businesses are working remotely. This offers the opportunity of time. Because of the lack of commute to and from the office, this means that you may be able to find that extra house per day, flexibility and extra savings from travel. So you want to leave your current role to fulfil that dream business, what is the best way?

The "Long Resignation"

There is a significant risk of starting a new business and usually a lag time between starting and then getting cash in the bank. The web is awash of affiliate marketing, drop shipping, crypto and all manner of "risk-free" businesses that warrant further investigation. If you want to pursue that "magic business" that can deliver what you need then unless there is an opportunity of a lifetime or the place that you are working at is awful then stay put. Changing jobs means a whole lot of proving yourself, learning and taking away from building your side hustle.

Utilise the current labour market conditions to consolidate your position at work and negotiate better conditions (perhaps more flexibility and the ability to have a side hustle that doesn't breach your contract). Use your extra time, flexibility and money to research thoroughly the market, your proposition and get the funding that you need in place. There is an opportunity to build an income as well which proves your proposition. The bottom line is that change for change sake may be delaying your dream. Only leave when it's right for you.

It is very important to seek the right advice from lawyers, accountants and financial planners in considering changes.