8 reasons you should consider changing jobs
It seems relatively common for most people to get on with their job, accepting that there will inevitably be some rough with the smooth. Sometimes, we just have to tolerate the downsides of an imperfect work environment. However, should that always be the case? What’s the point at which you should make the decision to walk away?
At Career Mentor, much of our work revolves around supporting and guiding senior professionals who have come to this decision. With that in mind, what are the specific things you should watch out for, that should make you decide it’s time for a change?
Understanding your bigger picture
Before we get into the list, it requires you to have three things:
Some sort of idea of the direction you want your career to go in, a strategy or plan, and the ambition and drive to make it happen.
You know what your standards are and where you draw the line. You may accept that there has to be some degree of flexibility and tolerance, but only up to that line.
You know what your current values are in the context of your job and career. You are clear in what’s most important to you at this point in your career and in this chapter of your life.
10 reasons why you should at least consider changing your job
You’re stagnating
You’re in an organisation in which you have hit a plateau. You’re not learning any new skills and are missing out on experiences that would grow and develop you professionally - perhaps, getting on interesting deal teams, for example. You’re not being stretched by your manager, and your current responsibilities are well within your comfort zone. Finally, and perhaps as a consequence of this, you’ve not been promoted in recent years.
You’re in a toxic work environment
This can look like different things in different organisations, but any of the following would be evidence of that:
Bullying is tolerated
There’s a blame culture
People are not held accountable for failure to deliver
Unethical behaviour goes unchecked
Managers are weak and don’t address such issues
Micromanaging is common and is a sign of lack of trust and confidence
Gossip and negativity abounds
You feel undervalued
Increasingly, you feel that your efforts and achievements are not appreciated or recognised, both one-to-one and publicly. This feeling of not being valued may also be reflected in the comp you receive. It can also be that the comp itself is fine, but managers mistakenly feel that they pay you well and so expect you to go above and beyond.
Your management is poor
You lack confidence in the management team to:
create a great and positive culture
have the best strategy to meet client needs in the face of a dynamic market and skilled competitors
organise your team, department or firm in such a way that avoids time and effort being wasted through weak processes (This can sometimes be ok in the short-term, as the management adapts the organisation to changing circumstances, but living in everlasting chaos is very stressful and is a red flag to avoid.)
You’re in experiencing chronic stress or burnout
Most people can work hard and for long hours, especially in an industry such as Financial Services. However, if project/deal teams are never adequately staffed, then this will lead to exhaustion, stress, mental health issues and eventually burnout. As a Career Coach, I’ve worked with several clients who have come to me as they’re completely burnt out, or after an extended period of sick leave. They’re now ready to get back to work, but in an environment that is healthy and sustainable.
Your career lacks direction or focus
You feel that your career isn’t going in the right direction and you’re being encouraged to take on roles that are not what you really want to focus on. It might also be that you feel disengaged by your current role and if it weren’t for the need to support yourself or family financially, you’d leave in a heartbeat.
Your values are misaligned with the firm’s
Your values aren’t aligned with the organisation’s. There are three sets of values to consider here:
The aspirational values of the firm. These can often be seen in the corporate literature.
The actual values of the organisation, which are exemplified by the behaviours of the people in that group. A strong management team will ensure that the actual is exactly aligned with the aspirational.
Then third are your values. If your values aren’t aligned with those of the actual, you’ll feel that schism and know that this isn’t the right place for you. Remember both the actual values of a team or department can change under new leadership and your values can change as your life circumstances change.
There have been significant shifts in strategy
This is best explained with an example. In recent months, HSBC decided to make a major shift in strategy. At that point, many of their employees had to try and assess how their career would be affected by this change. Some may have concluded that staying at the firm would mean new opportunities. Others may have decided that this pivot didn’t bode well and made plans to make a move.
Closing thoughts
Financial Services can be a very dynamic environment, with many different work cultures and variable levels of leadership and management competence. As you take charge of driving your career forward, being in a benign culture where you’re happy, growing and able to give your best is perhaps what we should all aim for. At Career Mentor, our advice would be to constantly watch what’s going on in a balanced way and pay particular attention to these eight Red Flags. If you have any questions about how we might be able to help, let’s talk.