Leaving a job to pursue other options can be exhilarating, whether it is to advance your career, set up your own business, become a full-time parent or for a short sabbatical.
Before taking this leap, it is important to prepare financially first.
Here are 12 tips to prepare yourself before handing in your resignation.
- It goes without saying, but it is important to have a firm job offer before resigning, unless you plan to further your education. Likewise, you should be building your network if you are at risk of being laid off.
- Find out whether you will be required to pay back any benefits you have already received, such as tuition reimbursement or a relocation bonus.
- Ensure you have sufficient money to carry you into your next job without touching your emergency fund. Assess your financial situation and set up a budget.
- If you are planning to relocate, getting a new place may require proof of a job and income, which can make it more difficult.
- Keep a few copies of any performance reviews, professional certifications or any relevant personal documents. Other documents include vacation balance, salary information and so on. Have a copy of your contract and benefits information on a personal computer is recommended because you might not have access to them in the future.
- Do not make copies of any work performed unless you have written approval from management as this is technically the company’s property.
- Remember to back-up all your email and remove any personal files from your work computer, work phone and any other devices that you used during your employment.
- Prepare for what you will do or say if your manager makes a counteroffer. Most people would say it is not a good idea to remain after attempting to resign but it can also go well.
- Try to avoid giving more than two weeks of notice if you are leaving immediately and not being paid for your remaining time would be a financial difficulty.
- If you have received bonuses, such as a hiring bonus, education assistance and so on, consider whether you are required to return them before you choose to resign. Do not count on collecting your bonuses as well during your notice period because you could be let go immediately.
- Check on your employee benefits and find out what happens after you resign. Are you still entitled to your outstanding vacation days, will they be paid out or do you lose them? When do your medical benefits expire, is it the end of the month or the day you leave? If you still have annual leave, you may want to take it before leaving your job.
- Last but not least, put together an email list of anyone you want to reach out to before you leave. Avoid sending an email to too large of a group – it can be tacky – and use Bcc: for group emails. Make sure your email is short and straight to the point and provide information to keep in touch.
This article first appeared in jobstore.com
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