4 Steps to finding out if the time is right to leave your corporate job.
Does the Bell "toll" for your Corporate Career?
The other day, I was having a lovely conversation with Joanne. A mother of two amazing young Women who work their hearts out every week in dance classes.
Like many Corporate Moms, Joanne had the amazing gift of knowledge having been an Auditor for a large Financial firm for the past 14 years. She knew there were SO many ways to help more people but felt stifled in her current role. Because she LOVED the company and the people, she just didn’t feel that strong drive to start something of her own.
So, I asked her one question.
“What if your firm shut its doors tomorrow? Do you feel you’ll be ready for a change like that?”
It was fun to watch a professional auditor process data that has never been given before. So rather than make it an emotional choice, I helped her think about it from a more logical perspective with 4 direct questions:
1. What if your company or role becomes obsolete?
Being an industry expert after 14 years, Joanne had a pretty good sense of what her industrial ecosystem looked like. No industry is immune to the “it’s the Uber of” competitor swooping in, nor to the impact of AI and Tech on certain jobs within her industry. I ask her to consider where her company will be in 5 years. Will they still want what she offers?
How many younger grads are applying for your role?
2. How many new graduates are entering your industry workforce?
Post-secondary institutions are simply grad producing machines. However, in today’s economy they are producing more grads who are hungrier for work based on incurred student debt. That means they’ll work for much less. And with an increase year after year of international students adding to that pool who come with a more globally tuned mindset, can she keep pace?
3. At what point do you start to experience “diminishing returns” on your pay?
Jobs in any corporate or institution are generally defined by levels, or pay scales. As Joanne continues to work and become the “go-to” expert within her company (“Go-To Expert In-House” = the person who given more work and responsibility without any reflection of it in pay), she’ll start to realize she’s hit a pay ceiling. In Joanne’s case, as forward thinking as her company is she is more acutely aware of this being a Women as well. She can only earn as much as her employer allows. But her level of work production to them is infinite.
4. Does your Health have an inverse relationship with your workload?
Inevitably, as Joanne works harder and gain more success time becomes less available. After 14 years, she’s found that she struggles to maintain a decent balance of physical activity, as well as nutrition. It’s just a fact that there are only 24 hours in a day. And if she had to sacrifice time for work its not as though she can give up her commute time? And I can tell you from my personal journey that a decrease in physical health will also lead to a negative impact on mental health. Think about it like this: The higher you climb that corporate ladder, the thinner the air gets.
After our chat, Joanne emailed me a few days later after conducting her own research from the 4 points above.
She now uses her time at her daughters dance class watching her girls with a smile and planning out what her first step to starting her side hustle will be.
I’m SO grateful that we’re doing it together. Message me today so I can help you answer these questions!