Right decision to resign?

Hi

So I’ve been in my company for 7 and a bit years (entitled to pro rata LSL). Last 6 months has been brutal. I’m in the finance team of normally 10, of which 5 have gone in the last 6 months (including CFO who was my mentor. Organisation has appointed a manager (friend of someone at work ) and has been making the rest of the team really unsettled.

I’ve been looking for a job for 2 months, haven’t been too successful so far. This week some things have happened that has caused another member to resign. As more leave, work load just gets spread around making it harder and harder.

I don’t have a job, can sustain myself financially for 4-5 months and always thought about starting business. My current job is really good paying but I’m very mentally stressed and not a fan of the manager.
Edit: to rephrase my financial situation, no mortgage have passive rent coming in, so would just need lifestyle change

Should I just cAll it quits, take a small break and relook later (or even pursue my business idea), or keep holding on (and get paid) till I find something else?

Thanks

Stressed person

P.S update: thanks so much for all your help. I’m speaking to family and friends as well to make sure I make the right decision
Update 2: Had an impromptu meeting called (come to board room in 15min). My first thought was yes! (redundancy), but it turned out worse lol. They put me on a performance management system, where i get reviewed every 2 weeks, gave me a massive list of KPI's and tasks to do with ridiculous benchmarks. I angered up and told them this not possible, i cannot complete all this. The response was, this is meant to encourage and motivate, prove yourself back to us.

The next day I handed in my resignation, they wanted me to give a notice of 12 weeks full time to help them out (LOL). You can guess what i said to that.

I feel so much better already, and all the higher ups are so nice to me now haha

Comments

  • +7

    you got holiday pay? And the stress may qualify you for sick pay if you talk to a doctor.

    • +1

      If you can and want to make your holiday longer - take leave at half pay

    • +2

      Thanks I just took 3 weeks holiday pay to recharge come back hoping things have changed. Unfortunately it has not

      • Just double check on LSL part.
        I left at 9yrs and wasn’t entitled to anything and I think it’s norm.
        If your company has specific provision to allow for that then good on you.

        • Generally correct.

          If you resign, then no payout.

          If you're terminated or if you resign due to sickness then you may get a payout of LSL.

        • +2

          'I left at 9yrs and wasn’t entitled to anything'

          That must have been a tough decision.

        • +1

          I know that Victorian state law has a provision for an employee to get paid pro-rate LSL after 7 years where as Queensland doesn't. When I resigned from my job in Qld after 9 years I lost all LSL while one of my colleagues based in the Melbourne office got hers paid pro-rata which was pretty frustrating.

          • +1

            @tasty-falafel: I recently resigned from a position after 9 years (in Melbourne). I was paid LSL under Victorian state law, but only because my workplace agreement was federal and made no specific mention of LSL entitlements.

            OP should check his workplace agreement.

            • @Massive Flog: Thanks all, checked my employment contract and it does specifically say pro-rata after 7 years of employment. Win!

  • +49

    I would hold on until either you find another job or your business idea starts to take more shape

    • +1. Considering you wish to be a tax agent but tax reporting season is almost over, might be better to keep the job while starting your own business?

      • +2

        Tax reporting season is far from over.

        For your everyday mum and dad, yes.

        But for businesses, high net wealth individuals, nope.

      • +2

        Tax agents get an extension for lodging tax returns until May the following year. 'Tax reporting season' is only just starting.

    • +19

      Do bare minimum in the meantime. You may even be blessed with a redundancy.

      There is give and take in any relationship with your employer. But if your employer is now just 'take-take' while refusing to rectify issues, then just switch off your brain and save your mental energy for other tasks (finding work, launching business).

      Good luck.

  • +29

    I been in your situation quite often..so piece of advice…Don't leave job because new boss is weirdo….! Take short paid holiday and keep looking for new opportunities…. work on business plan and leave when you set up business 👍

    • +11

      Unfortunately it’s not just the new boss. New boss was nail in the coffin. It’s the organisation in general now, 120+ staff turnover in a 300 staff in a year ..

  • +13

    You can sustain yourself financially for 5 months, but what happens if you are still unemployed at the 6 month mark? Life is no party on unemployment benefits!

    Grit your teeth and keep working until you find other employment, being financially stable is very important in the current economic environment.

  • +4

    It may seem overwhelming at the moment so set yourself micro-goals to hang in there eg, I will hang in there 2 weeks before deciding. Micro goals will take away some of the overwhelm while giving you more emotional and financial space - @SydBoy has given solid advice.

    All of that said, it is not "wrong" to quit, especially if you are are at the literal end of your tether.

    Good luck OP.

    • +2

      Thanks I have passed a few milestones hence end of tether. First milestone was complete budget. 2nd was finish year end. 3rd was get LSL. Haha

  • Can you do what you do as self-employed? If you can then get all your entitlements in order and leave.

    • Yea I can I be a tax agent and do personal tax returns

  • +5

    Make sure you can actually receive your LSL balance on resignation. Most pro-rata LSL has to be taken not paid out.

    • I waited until 7 years and one week and I got paid out. In VIC you generally can't take LSL until 10 years but if you quit earlier any time after 7 years they have to pay you the LSL pro rata. The key is to make sure you are making the 7 year mark. Confirm with HR before jumping. One you resign, make sure payroll and HR know you are expecting to receive that pro-rata payout. Ask questions, confirm dates, etc.

      • Not the case in NSW until you hit 10 year mark

        • Or QLD. Vic is better, SA I think too.

          QLD and NSW you need 10 years to the day + any unpaid leave periods, before submitting a resignation or you are entitled to exactly nothing for any LSL.

      • +5

        Victoria LSL law have changed, it is guaranteed after 7 years now, no pro-rata rule required.
        https://www.business.vic.gov.au/hiring-and-managing-staff/lo…

        • Jez. Image one country with a standard set of rules.

    • +4

      I should be fine I’m on 7 years 2 months. I asked HR and they came back saying not sure lol. No payroll person right now as well lol since they left

      • +1

        Maybe wait till there's someone in payroll before you go so you get paid out properly lol

  • +12

    I always think that if you wake up and hate going to work every day, you need to quit because your mental health is way more important.

    In saying that…I wake up every day and hate going to work every day :P

    • +3

      Full realisation came when I made a hole in wall at home. Started affecting home life. 2 year old constantly reminds me about hole even though I patched it up

      • +4

        On the plus side, must be a pretty clever 2 year old to remember that.

      • +3

        Money's not worth it if he's affecting your home life.

        The good thing is your previous manager should be able to give you a good reference.

  • +1

    Have you tried talking to your mannager? They might not realise there are big issues, if you explain whats bothering you and ask for more staff ect you may get what you need.

    Chances are if he's someones friend he might not be the greatest candidate for the job, it doesnt mean he cant learn and isnt motivated. Obviously dont blame him, he will get defensive and you will get nothing.

    Be an adult and try to deal with your issues.

    • I’m sure she does as she’s getting a lot of resistance from staff. Not just finance but other departments. Heck she made an employee cry yesterday for telling her she shouldn’t eat her breakfast on her desk (even though she does the same in her office )

      • +1

        You dont know what someone knows

      • +9

        You have my sympathy for a terrible manager. I've had my share of hypocritical bastards managing me, but being told not to eat breakfast at your desk is no excuse to cry. Your coworker sounds like she needs to go back to kindergarten and learn the social mechanics of sticks and stones.

        Please be sure you're not overreacting too. Bad managers can make you feel like shit especially if you're already sick of the company and role, but you'd be surprised how often just changing your outlook and learning to ignore them can work wonders.

      • -1

        If you cry because a manager reasonably asks not to consume food in a work area, you shouldn't be employed in that position in the first place.

  • +13

    I say "Don't let the bastards grind you down".

    Go in there and put a veneer of politeness on so that you can't be made out to be the bad guy. Do you work, but don't let people load you up.

    Wait for the day they want to sack you, then smile and say thanks very much. Appreciate the opportunity.

    You may as well stick it out until something better pops up.

    • +7

      I did this.
      It scared the hell out of the "manager" and "hr" when they fired "I resigned" and I just gave them a big smile and said "thank you". Shortly after they had to hire 3 more staff because of my absence. Now 5 of my colleagues have decided to quit because of me. And the company has hired another 7 staff, with most being incompetent and some untrained. And on top of that, they've lost a few major clients. So their "genius" decision has cost them a few million already.

      However, I'm sure both the manager and hr will get bonuses and pat's on their back… there's no way the upper management ever admit to making mistakes. Just glad that I still have my a piece of my sanity left.

      • there's no way the upper management ever admit to making mistakes

        The biggest skill of a manager is to admit he/she made the wrong decision, and cut the losses or rectify the error, but the longer it goes, the more the manager buries himself into his point of view. Add Specific culture traits and you have a manager that never ever will admit fault. Add managers above him that cover his ass, because the department "Delivers" and you have the most Toxic of environments. If you are the managers pet, then all is fine, if your manager thinks you have it all, then don't expect anything coming your way.

        • This is exactly what happened at my previous workplace. It was called "passing the buck". To add to that we had some racism coming from up top. I eventually had to sign a NDA.

    • +3

      They don’t ‘sack’ you, they performance manage you out until you resign unfortunately. Not the greatest way to go

      • +4

        One of the best virtues to have is loyalty. So I say to you: be loyal. However, don't be loyal to the company, be loyal to yourself.

        The company is ready to fire you at any point for any reason. Just the same, you should be ready to quit at any time and for any reason.

        Shift the dynamics of power back from them towards you (so it enters neutral ground). Don't ever split the difference. Focus on making yourself a man of value. Only 1%-10% of people do, so be one of them. By saying "No" and being a "bad man" you realize you can excel further, then suddenly more doors will open up and now people respect you.

        Train yourself, Earn your value, Take their respect… don't be passive anymore. This is a pledge I give to myself, and you should do the same. What you want, will it to reality.
        Achilles "immortality… take it, it's yours!"

      • How does that work? Can't you simply smile, say "yes" to them, work the 9-5 each day and not worry about it? Eventually they'd give up and fire you right?

      • Or simply write on your termination letter saying your performance is not up to scratch during probation. Kick you out before needing to pay you more

  • +8

    Unless the company has decided to 'right size' the team, there's only half a team there. If you accept that not everything can be done in time, then it's about prioritisation. If you've aligned priorities with the manager and put in a solid day's work then don't feel bad or stressed when you push back on more unrealistic workloads.

    • +2

      Tried to align priorities but didn’t work well. Basically was told work at home Work long hours to get it done, when I politely said I don’t think we have the resources and capability

      • +4

        Reading through your other comments, it sounds like the organisation is a dumpster fire at the moment and no amount of reasoning is going to prevail (the CEO actually said prioritise work over family?!).

        It's definitely time to move on, but not at your disadvantage. Unless it's written in to your contract, I'd be pushing back on taking work home unless they're going to compensate you accordingly. If you're able to keep work constrained to the office, then you're able to focus on securing another job or set up your own business.

      • +1

        Learn to say "no". Shit rolls down the hill in the workplace and managers love to dump their responsibilities on others. You'd be surprised how often they'll get fired before you, simply by growing a pair and refusing to do unreasonable amounts of work (the excess work they try and dump on you is almost always shit they simply can't do themselves).

    • I can ensure you that some management don't listen. I got the let go after telling them the team is already struggling, and they responded back by making me jobless and terminated me during probation with some lame excuse which is not true

  • +4

    So many factors will affect your decision: do you have a mortgage? do you have a family to feed and house?

    Bare in mind that four or five months will pass surprisingly quickly if you don't find another form of income. You might find yourself with bigger problems than a heavy workload and shitty workplace.

    I can completely relate to wanting to escape though. I once had a job where my flatmate said I left one person in the morning and came back another. Is this job affecting your psyche? You attitude to life? You may find yourself happier in a lower paying job, without all the stress.

    • +4

      Yea this job has completely changed my thoughts on life. The employer will replace me as a number when I leave. Is it worth devoting yourself to them? I definetly now have considered lower paying, spending more time with family

  • +1

    Am in the same situation so can relate. Even though it may feel satisfying to resign, you'll only be hurting yourself if you don't have an exit strategy in place. Job hunting takes a while as it's all about timing. You don't want to have to take the first job that comes around because you're running short on funds. Ideally you find a better job with a supportive culture and good manager. Don't get yourself in the position of getting a job that may end up worse than the one you're in. Start reaching out to your network to ask if their companies are good places to work and if there suitable openings - it's better to get a referral from an existing employee than applying cold.

    In the meantime, don't take your work frustrations home with you. Have a hobby or your business idea to work on so that you're feeling productive.

    • +1

      Thanks for the advice. Unfortunately in my role was has to be taken home to get it done. Plus manager constantly messages me after work hours and weekends asking questions . Just because they work weird hours doesn’t mean staff have to

      • +4

        You sound like me years ago. The best thing I ever learned was that nothing in my job meant life or death and as a result I stopped treating it as such. First thing I did was I get a personal phone separate to my work phone. Life changing. Whenever I found myself working for assholes, the work phone goes off as soon as I exit the building and is not switched on until I'm back in the building. You teach people how to treat you. They'll find someone else to call if you are never available. Still got promoted while doing this strategy vs. all the years I worked my ass off and had to fight for promotions. Go figure.

  • +1

    This is tricky. It's always difficult when it's mentally challenging to attend work.
    If you can find a way to disconnect from what's stressing you, it will help. Remember it's pointless stressing over things you cannot change. Also, you can reasonably achieve only a certain amount, regardless of effort, efficiency etc.
    Ensure you get a break. The comments here suggesting a holiday are correct.
    If your stress is serious, as opposed to regular work stresses, you should see a doctor ASAP and consider your options for workers' compensation.
    In terms of resigning, I recommend against that, echoing other comments here on your position in 6 months. Also, when negotiating a new position, it's easier to deal effectively if you have the fall back position of your current role.
    Good luck!

  • +1

    Try reaching out to your mentor to see what hes doing and vent some of your frustrations. He may have some insight on what you can do. Also I would hope they wouldn't be burdening you with unrealistic workload due to a staffing shortage. It might pay to have a discussion with H.R to express your state of mind at this time.
    All else failing, fake an illness and go on a holiday, screw the bastards, you don't owe them nothing.

    Good Luck!

    • +1

      Mentor was ‘managed out’ as well. His been telling me to get out for a while now, but his priorities align with mine. Don’t let it affect the family.

      I was even told from higher ups to realign my priorities, work first family 2nd. Told face to face by ceo

  • +7

    Book in your lsl and go hard finding a new job.

  • -8

    call it quits. sit on the couch stress free and good luck finding a new job. if you dont like that eat some cement and harden up.

    • +11

      Username checks out

  • +6

    I know your situation very well. I would recommend not to resign without having a new job lined up. There are a lot of jobs available but there are many more people looking. Competition is high. It could easily take more than 5 months to get a new job. Some companies have an 8 week interview process with 6 or more interviews.

    First thing I would do is find team members you trust and chat to them. Most likely they feel the same. This will give you a feeling that you are not alone and you have an outlet. Take lunches outside the office together and talk. This will make you feel a little better.

    At the same time crank up the job search. Apply for a few jobs a week and see what reaction you get. Open up your Seek and LinkedIn profiles for recruiters to contact you. If things go well (if your CV is good) and you get reactions, you will feel wanted. Which will give you a little mental boost. You will of course also get rejections, but don’t let that get you down. I found that this process helps with accepting the current job situation a little better. Mentally. If you get a job offer with lower pay, consider it too. What is more important?

    Now, on the flip side, also keep in mind that the next job you find could be even worse than the current job. You will only know after a couple of months. There are a lot of s*** managers out there. So you need to ask yourself: is it really that bad? What are the positives in the company? Can you balance the good and bad? But by the sounds of it, there is more bad than good in your situation.

    Oh, and go to the gym or start jogging instead of hurting the poor wall 😊

    Good luck!

    • +3

      Another thing you could do is start your own business idea while you are still in your current job. It will be hard work, but it will give you a distraction and a light at the end of the tunnel. It might give you a balance of good and bad to make the current job acceptable until your business is successful.

      • Thanks I have tried to but resorted to doing business stuff at night. With low staff work load is immense with no time to do side things, let alone have lunch!

        • I know the feeling :)

        • Genuine question - what would happen if you didn't take the work home and it wasn't done?

          In other words, is the company likely to change anything if the work is still getting done?

          • @RandomNinja: From past words from employees (truth or not), they performance manage you out. i.e strike 1,2,3 your out

            • +2

              @wau2: If what you've described is all true, it sounds like there's probably a few good cases of unfair dismissal if anyone is willing to fight it.

    • not really, my recent 12 month contract ended and I picked up a new FT role in 3 days.

  • +1
  • +11

    Do the bare minimum. Don't care. You still get paid, you have less stress, they will learn that they can't do 10 people's jobs with 5 people. Find another job in the meantime, or start your business after hours.

    • +1

      Maybe the company had 10 people doing the job of 5 people and now OP is having to do the bare minimum which is a relative increase from before.

      • This is certainly a possibility, though with that many people leaving in that short a time frame, it tends to suggest management/workload issues.

        • It equally indicates the other direction too.

          They could well have hired a former manager who only had public sector job experience & as such came in and bloated the the loving Christ out of every part of the admin, work flow and decision making process unnecessarily - which led to more workers needing to come in and support the original staff in order to get things done.

          Often you'll need to turf useless managers like that after an operational review, with someone to come in and cut down all the unnecessary crap, procedures, processes and people they introduced.

  • Wow the way you have described the company I would be leaving asap! I wouldn't be treated that like for one second. I would also be making a anonymous compliant to the fair work ombudsman about the lunch situation. If you are expected to work through your lunch break you are being exploited and it's unlawful.

    • More like they give unrealistic deadlines. Even directly told me, if you need to work lunch and nights to get it done, just gotta get it done,

      I didn’t mind initially as I was doing it for my mentor who I respected very much, and it worked both ways, he would be very flexible during down time. Now that his gone, it’s back to Orwell days

      • You must be on a good wicket, I don't feel sorry for you if you are.

        I'm on bad wicket and have unrealistic work expectations, the difference is I have no fear of losing my job. I make complaints, talk back and overall have a shit attitude but the funny part is since I've stopped portraying this "professional" image and allowing people to walk all over me, I am much happier in the workplace.

        In contrast, my job security may have decreased significantly and I don't enjoy HR meetings but they are part of the package when you start making some noise.

  • +1

    just take the plunge, you will be glad later since you are miserable now. I've done it 3 times. At the time it is scary but if you have the skills to back you up, you shouldn't have a problem finding another job, preferably a better one.

    starting a business after quitting is not a wise idea. you should of had a plan by now.

    • Thanks for that , I’m qualified accountant s so that helps abit

      • +1

        No offense Op but qualified accountants are a dime a dozen :(

        If it was me, I would look for a back up plan before burning my bridges, especially if you have a family to support.

        Does your wife/SO work? Will you be able to make ends meet on 1 income if it takes longer than expected to find another job/turn a profit in your new venture?

      • +2

        Do you already have your Tax Agents Registration and Puplic Practice Certificate, and if not have you actually checked you meet the requirements? You don't sound like you would meet the practical experience requirements.

      • +2

        just because you have CPA/CA dosent mean people will come knocking on your door to file their returns

        • yes you are right, im really fortunate that my sis-in-law is a registered tax agent for her own company and is willing to take me under her wing to gain experience.

  • -1

    Finance industry = unless you're connected, you're a slave to spoilt brats.

    Edit: Go into a different industry. Maybe admin.

    • +3

      Yes the admin industry is booming

    • Can you elaborate what you mean by admin? Data entry , calls those kind of things?

      • +1

        Depends on what you're doing in finance but yes. Pushing paper. For example, universities.

  • +2

    Given its coming up to xmas, you may not be abke to find something this calendar year. Try and make it throught the holiday period as its hopefully going to be quieter. I would definitely move though but its just a timing thing.

  • In my experience it Seems easier to get a job when you already have a job.

    Starting a business ? Make absolutely sure there is a demand for what you are selling

    • Thanks I was planning to keep looking for another job but also do all the planning requirements for a businsss.

  • +9

    You don't quit. In Australia when we have a job that sucks balls, we handle it like Aussies by going in every day and doing a half-arsed job.

    • And then you don’t meet all the KPIs and they performance manage you out. I try to not care what they say but it’s still abit uncomfortable to work with

      • +2

        Isn't that still better than quitting?Realistically it world take months for them to "performance manage" you out which is more time for you to find work

      • +1

        My comment was cheeky, OP. It's a line from The Simpsons. Your mental health is the most important thing, if you're not too stressed financially then take the time and space you need to recharge and re-balance. It's just a job after all.

  • When one door shuts, another one will open. Trust yourself and your abilities.

    Sometimes, we need to follow our hearts too.

  • Dont resign. Take as many leaves as possible and you may be lucky to get redundancy. Keep trying for other jobs in mean while.

  • +1

    Good that you have commenced the job hunt. If you haven't been successful in the job hunt, take a step back and try to figure out why. Could be your CV needs work or that you need to be more proactive. Phoning up contact people before applying. Get someone in the industry to review your cv. If it's lack of success at the interview stage, work on your interview skills (work examples etc) and make sure how you dress is top notch.
    Set aside a few hours a day for the job hunt. It's your priority, not your current work.
    Good luck, I was in a bad workplace a year or so ago. Got a new job after four months and it's been a life saver!

    Also find ways to make excuses for not working at home. Be devious if you need to be. Fell asleep, family sick etc (I'm sure others can chime in with better excuses)

  • +5

    i recently resigned from a stressful role, was the best move. didnt have a new job lined up either, i just quite. 8 years payout helped. you need the time off to unwind. and job hunting while unemployed is much easier than trying to squeeze it into a busy work day, where your also mentally stuffed.

  • +2

    From what you have described of the company and CEO, the culture sounds really toxic. It is great that you are seeking advice on how to exit.

    Firstly, no job should create such stress that you put a hole in the wall at home. Does your company have an anonymous EAP that you can access? I think it would be very beneficial to speak with someone on some practical stress management strategies to help get you through this crappy time. If they don’t have an EAP and things continue to get worse, a visit to your GP could be beneficial.

    Also, find someone you can regularly debrief with (trusted colleague, ex-mentor), to help you talk about what you are going through. If you’re really struggling to find someone and have had a really bad day, feel free to rant to me via PM.

    Put your job seeking efforts on steroids. Reach out to people in your network and ask if they know of any jobs. Send your CV and cover letter to companies you want to work for. A lot of jobs are found outside Seek.

    Start to prepare your business plan. What you want to do, how you’ll get there. I assume tax agents have peaks and troughs in workload, so think about the optimal time to launch. Start preparing to promote your business in the meantime. Decide on a company name, logo, start preparing your social media presence and planning a website (if required). Get systems ready to launch, any procedures, business cards etc. I’m not suggesting you invest more than your time at this stage, but preparation will keep your options open.

    Scale back any work you do at home. If questioned why, it is none of their business so make something up that doesn’t involve family as they’ve made their thoughts clear about that (enrol in free EdX courses and tell them you’re studying, EdX has paid courses as well, so it will look credible if they check it out). They cannot performance manage you for not working at night/weekends.

    Lastly, going into anything new while in a bad headspace isn’t ideal. Unfortunately it is easier to find a job when you have one. Try to grit your teeth and get through this as fast as possible. However, if you are at risk of losing it at work/home or getting pushed to breaking point, consider workers comp.

    These numpties don’t deserve you. Good luck.

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