The Great Resignation: A Tempest in a Teapot That Pivoteers Can Safely Ignore
It's all about the plan, man!
A little bit of housekeeping before we jump in today. I had planned on starting this week with a mini-newsletter on Mondays and the big one on Thursdays, but life finds a way to ruin the best-laid plans. I will be writing my little arse off the next few days to get back ahead, but while that's happening, be forewarned that the publishing schedule is subject to change while I find my groove. Now, on with the newsletter!
The media has fallen in love with the term "The Great Resignation," which was coined by Anthony Klotz, a psychologist, and professor at Texas A&M. Professor Klotz referred to the trend of people quitting their jobs over the past several months as we begin to readjust from the pandemic.
As the media does, they have blown it out of proportion, causing a lot of unprepared people to go all "take this job and shove it" without considering the consequences.
While this time in history is full of unprecedented changes in employment, and people jumping jobs to find a better situation is slightly more commonplace, the music is going to stop, and the people left standing are going to be hurting.
The chickens are coming home to roost soon enough, and the bills will come due. People will meet a harsh truth when the power flips back to employers who may not be as benevolent as they are now. I'm scared for the people who will attempt to pivot in this utterly unstable environment and get caught out without a place to land.
The other problem with "The Great Resignation" is that the data isn't there, and people are making assumptions from an incomplete picture of what's going on in the labor market. The think-pieces I've read on the topic are mostly opinion and don't bear much on reality and what I am advocating here: a long-term approach to continual career change and forward movement.
From the two previous posts, you may start to understand that I'm all about the plan. The planning portion of switching anything is crucial, and people are making rash decisions right now that they haven't thought out more than six months into the future.
Planning is the key to making successful jumps. Here are just a few reasons:
You don't have to start at the bottom.
You can maintain relative continuity of income.
You mitigate uncertainty about the future.
You significantly reduce the risk of failure.
You have an exit plan, just in case.
There are more but for today, let's focus on these five reasons you need to plan before making any significant pivot.
You Don't Have to Start at the Bottom.
When you're making your pivot plan (something we will be getting deep into in the following few newsletters), you will be doing significant research into your target area. When you start a new endeavor, you should be coming into the field with the skills and knowledge to be in the top 50th percentile. It's straightforward nowadays to learn about any field or job with minimal research and online learning. The goal is to not come in off the street as a total noob.
The research phase has multiple purposes. You want to make sure that you are working in reality about the possible new position and not the glamor of how it looks from the outside. Learning the day-to-day basics will let you know if that option is what you want to spend the next segment of your life on. I tried being a live streamer for a short while without doing my research, which bit me in the ass. I spent a lot of time and money on something that I'd have known was NOT for me if I'd have spent a few days doing some deep research. I knew better, but I skipped the step, and now all I have is a lot of junk I'm not using and a big lesson to stick to the plan!
Once you have an understanding of the job, then you can start your skill training. This phase is different depending on the job. When I was preparing to leave my career in software development and move into podcasting, I spent my nights reading about everything to do with audio production. When I move into any new field, I learn as much as possible about every aspect of the business. Besides the job I was taking, I also learned about file formats, waveforms, noise gates, attacks and knees, compressors, cables, microphones, interfaces, headphones, software, you name it. People love to talk about their job, and by just asking people who are doing what you want to do, you can learn almost anything.
My first real job in podcasting was to book show guests, organize ad reads, identify sponsors, send sound checks, work with the editor, and everything back office with podcast production. There was nothing technical about my role whatsoever. But I learned everything I could. I even started my podcast to have skin in the game and understand how my employer FELT by doing a podcast.
That podcast is still going to this day. It's called Grumpy Old Geeks, and we're closing in on nine years of producing that show. Today's bulk of my income comes from the technical side of podcasting, not what I originally was hired to do. Over the years, I pivoted inside the industry to find the right fit for my skills and personality to get paid and have a job that I genuinely enjoy waking up to. Knowing the business before I began also let me start as a producer on an already established show instead of starting at the bottom.
You Can Maintain Relative Continuity of Income.
By doing your research ahead of time and building up your chops before taking the plunge, you can come in at a higher price point relative to someone just entering the field. If the domain you're moving to has a higher pay scale than the one you're moving from, you can achieve parity during the move, which is always the most desired outcome.
If you know that there will be a deficit during a transition, this is where planning comes into play. You need to ensure you have enough savings to act as a buffer while you shift, so the move isn't painful. You can get an idea of relative salary ranges by just asking people in the business. As I said, people love to share and, in some cases, complain about their work. Use that to your advantage!
You Mitigate Uncertainty About the Future.
By having a solid change plan, you know the steps. You know what you have to do and, with a relative degree of certainty, what's going to happen.
Nothing is ever going to go as planned, of course, but having the roadmap will make the change a LOT less stressful. You also have your previous careers and training to fall back on, which is why it's a good idea never to burn bridges on your way out the door. You want to be able to fall back and re-assess if things go off the plan. It's one of the reasons I'm not a fan of the current "take this job and shove it" trend. The most successful Pivoteers aren't assholes when they can help it.
Being more professional was a hard-earned lesson for me. I have a trail of bodies in my rear-view mirror that would never have a kind thing to say about me, and it's something I regret.
You Significantly Reduce the Risk of Failure.
By drawing your map of the future, you have a much better chance of success than someone who doesn't plan. By learning the ropes and training yourself before making the switch, your chances of success are incredibly higher than people coming off the street with nothing but a desire to work.
Again, use the people in your target industry as resources. Ask them questions about mistakes that new hires can avoid. Doing so increases your chances of success. Everyone has stories to tell about other people's failures, so ask those questions and use those answers to bolster your planning.
You Have an Exit Plan, Just in Case.
And finally, you have been a good human and not burned all your previous bridges, but you've also gamed out what will happen if the pivot fails. You know where you can get another job or contract, so if things go as sideways as they can go, you can retreat and re-deploy your resources.
Always know where the exits are and how to get away safely. Planning for failure also can give you insight into holes in your plan that you can fill before making any moves.
These are just a few key aspects and advantages that the Pivoteer gets from having a solid action plan.
Pivot on!