For some things corporate memory is short. Last year’s contributions, the contract or sale you nailed yesterday, the restructuring program you lead or new product you launched. All easily forgotten. The “What have you done for me lately”. It may make you want to quit.
You see, the company’s eyes are already on the next objective. The next win. And, the next improvement.
This, in itself, is a positive focus. When you work for yourself this should also be how you think.
Always Look To The Vision And Opportunity In Front Of You
What is often missed and left behind in the corporate world are the people and relationships that make corporate success possible. In addition, it is a rare leader that takes the time to appreciate the individual. And, to appreciate those contributions that made that recent objective a success.
It is true, Very few managers take time for recognition. And, slowly with time this failure takes away from the momentum that could be created by a great team.
If you have worked in the corporate world, or your business has dealings with corporations, you have likely have experience with the ‘win at all cost’ type.
The type who takes credit and deflects blame in an effort to lock in their bonus or the next promotion. While, on their drive up the corporate ladder.
These people are takers. It is true, they leave exhausted and deflated teams behind them. Additionally, talk at the water cooler typically reflects everyone’s confusion on how that individual managed to get a promotion again.
Firstly, do not waste energy on these people. Secondly, take steps to set yourself free from this environment.
The Culture Did It
In my experience when working in an environment where these negative behaviors are rewarded the issues perpetuate. Because, the individuals making the decisions on the next group of leaders within that company are the bad apples that stepped on others heads to get promoted.
As a result, the company becomes a serial offender in promoting bad leaders.
Hence, it becomes a problem within the culture.
Bad leaders promote people they identify with and have fun with. They do not promote people who are very good at their job. Because, these people are a threat to the boss’s career.
If you are a strong employee consistently delivering good results. And, you know that others are taking credit for your work. Start to work on transferring your skills somewhere else.
Start to divert some of your energy into developing a side gig that will continue to build your transferrable skills but in a direction that sets you free.
The I Quit Remedy
Some articles and material out there will tell you to just “quit your job”. It is true, at times all of us dream of walking out the door.
Depending on your situation in life, tenure in your career, belief in yourself and your values, walking out the door today may not be possible.
How Do You Know When It Is Time To Quit?
This answer is simple. When you are no longer happy doing what this job is asking of you.
When Can I Quit?
When can you quit? It depends. In fact, it depends on how long you have been in your job and how long you can survive financially on your own.
New?
If you are new in a company with under 5-years of experience.
Use your current job as a springboard to your next job.
Alternatively, quit and start your own business now before the money you earn at your current job makes you too comfortable.
Aim for Financial Mastery then you will always have options.
Additionally, be creative and wide when you cast your net in search of ways to earn stable income.
6 To 15 Years?
If you are 6 to 15 years into your career.
You will need to develop a plan for moving on to something better while you focus on Financial Mastery and setting yourself free.
As your employment income grows avoid the spending and borrowing pitfalls. In fact, these habits will not allow you to get free from your job.
Focus on ways to capitalize on your strengths and experience while continuing to build transferrable skills. And, look for growth.
If you are no longer learning anything new in your job accelerate your goals for setting yourself free.
At this stage in your employment you are well into the years where your employer has high expectations of returns on their investment in you. Therefore, set boundaries and do not lose sight of your personal goals and interests.
More Than 16 Years?
If you have more than 16 years in an organization.
You must have an exit strategy, for your own health and financial future.
Corporate memory is short and selective when it comes to your contributions and future potential.
If you just quit you are leaving money on the table, money that can make a big difference in what you do next.
With 16 years in an organization your earning potential should be strong, and you may have many elements of Financial Mastery in place. Therefore, focus on the remaining mastery items so you can take your life back.
Set a target date for your exit and work toward it.
Consequently, you will likely find that having this plan will lift your mood and bring energy to your life again. Take that energy and focus it on your life outside of your day job.
30 Years
30 years in an organization you are a slave to the corporation. Even if you have been diligent in personal finances, exiting your career can be complicated.
The bank may have you highly leveraged based on your strong income and reliability.
You too, need an exit strategy so you can transition from working life to your life. You must have purpose beyond work.
However, if you are stable financially, have planned your retirement and you are not happy at work. There is a strong possibility that you could just walk out today. In fact, all you need is a plan for what you will do with your newfound freedom. However, keep reading.
With 30 years in, financial stability, and you are unhappy I suspect something has gone wrong.
Possibly the new generation of cutthroat bosses is being promoted past you in their careers. Or, maybe the boss you had built relationship with moved along unexpectedly. And, didn’t take care of you as promised.
If you just quit, you are also leaving money on the table.
Quit While You Capitalize On Your Situation
Take action to exit now while capitalizing on the situation you are in.
There is a strong possibility that new boss has some great new ideas that he sold his superiors and you may or may not fit into those plans. It is time for a conversation with the boss.
If this is what brought you here that means you did not plan for this eventuality. Firstly, your near-term focus should be on minimizing the financial impact from leaving sooner than expected. Indeed, protect your savings and pension.
Calculate how much money you will need to bridge from today to your planned retirement date. Then, make this your financial goal when negotiating your exit with the new boss.
Once you have the numbers worked out get busy living. In fact, start doing those things you always wanted to do but have put off. Finally, do not look back.
We are often imprisoned in the cage of our own abilities and routines, which provides us with a sense of security.
Alice Miller
The Other Side of The Coin
If you skipped all this working for someone else garbage and started a small business that has achieved a level of success. A business where you are now managing people.
Build a habit of noticing the good things your people are doing and recognize it.
Positive feedback is one of the strongest tools you have for building relationships and increasing potential within your business.
When you are in business for yourself, you know that you must deliver on your word. And you are more likely to follow through because your success relies on it.
As you, successful business owner, move forward recognize that you are now creating the culture within your business. Furthermore, you lead by example.
If you created a business from doing what you love and achieved financial independence you will not need an exit strategy. However, you should share what you know about success and freedom with others.
Additionally, all of our posts in the Exit Strategy Series can be found here.
Finally, more great content can be discovered on our Youtube channel.
Can you explain your statement ” he bank may have you highly leveraged based on your strong income and reliability”
I don’t see how the bank has ‘leverage’ on anyone’s money, but perhaps I don’t really understand the banking system properly.
Thank you for the question. I agree with you that as individuals we are responsible for our money and our financial decisions. I wrote it this way because my view is that people are not fully informed of the financial impact of decisions that are made with a ‘financial advisor’ with a bank. Most banks now sit with customers, enter goals and parameters into the banks system and offer products to an individual based on these goals and parameters. People may not be fully aware that the bank is selling products, products that the bank benefits from. I know many people with long term careers and strong earnings that are heavily indebted because they chose to use the products available at the bank. Many of them feel trapped in their career becuase they “need” the money to pay their obligations. I share more of my view on banks in this post.
I am suggesting that the feeling people have at this stage in their life and career, that feeling of being trapped in their job, is partly becuase of the products they chose to accept at the bank that prevents them from achieving financial independence. Accepting the products the bank sells is stealing their freedom.
Financial advisors and banking representatives are incentivized to sell products. They receive cash for the amount of products they sell, becuase of this I believe they do not have the customers best interests in mind. The banks, by designing products and selling products, are complicit in our global debt.