If you’ve been toying with the idea of leaving your job, now’s a pretty good time to do it. The labor market is loaded with openings, and many industries are so desperate to hire that they’re throwing incentives like sign-on bonuses and higher pay at workers to get them to come on board.
Still, the decision to leave a job isn’t an easy one, and you may want to have a really compelling reason to make a move. Here are four reasons why Americans are leaving their jobs these days, according to the 2022 Personal Capital Wealth and Wellness Index.
1. Higher pay and better benefits
A more generous paycheck could work wonders for your finances. Even if you’re reasonably well paid where you are, a new job could be your ticket to a higher salary. That could, in turn, help you meet different goals, whether it’s boosting your savings account balance or coming up with a down payment to purchase a home. If you think there’s an opportunity to snag a raise outside of your current job, it could pay to go after it.
But don’t just focus on your salary itself. You’ll also want to be mindful of some of the benefits you might enjoy at another company. If your current employer isn’t very generous with time off, you may be able to get a better setup elsewhere.
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2. To follow their passion
Given the amount of time you probably spend working each week, it’s natural to want to find something that actually sparks your interest. If you’re not passionate about the work you’re doing, it pays to go after a role that’s more meaningful.
Keep in mind there may be a way to transfer your skills from one industry to another. If you’re an accountant, for example, but want to get into community service work, you can try seeing if there are openings for a finance manager at a non-profit.
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3. To be able to work remotely
Working remotely wasn’t as common before the pandemic, but these days, millions of people are doing it. If your employer doesn’t allow remote work, you may want to pursue a job where you’ll have that option – at least on a partial basis.
Remote work could actually be a money-saver in several ways. First, if you have kids, it could mean getting to spend less on childcare. Also, if you drive to your office, cutting your commuting days from five to three or two will result in fewer trips to the pump – and less of a strain on your budget.
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4. To snag a promotion
If you’re hoping to move up within your field but your opportunities have been limited at your current company, it could pay to look elsewhere. Getting stuck in a dead-end job isn’t just bad for your paycheck – it could also be bad for your morale. Sometimes, you need to leave your comfort zone for a chance at a better opportunity.
The decision to take a new job isn’t an easy one. After all, there’s something to be said for knowing the ins and outs of your company. And you may be willing to make a change during a pandemic. But you could end up gaining a lot by pursuing a new job, so it pays to at least see what’s out there.
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