The Big Switch: Is Now The Right Time To Change Jobs?

Maybe it’s Stockholm syndrome. Change, that big scary force that held all of us captive this past year, is now actually starting to look pretty good. We pulled back the curtain. It’s a sheep in wolf's clothing — We might even be able to be friends. 

Or so it was for the 37 percent of workers who told us they changed jobs during the pandemic, and the more recent one in four who reported it was still on their minds. So if the thought of finding a new gig has been dancing in your head — don't worry — you’re not alone. 

We saw respondents change roles for a variety of reasons ranging from compensation to workplace culture. According to our survey, the most-cited reasons employees left in 2020 were:

• compensation (42%)

• perks and benefits (30%)

• remote work opportunities (23%)

• workplace culture (23%)

So is now the right time for you to make a switch? There's a lot of unique job-search advantages that have only been made possible by the current moment, but there are still important drawbacks to consider. Here are the major pros and cons to weigh when making your decision.

new freedom through remote work

While not everyone can take advantage of remote work (if this includes you, stay tuned — we’ll get to what all this means for onsite workers in a second), those that could go remote did so in droves during the previous year. And if you’re one of them, this means your next job search could go global. 

No longer confined to opportunities within a commute-friendly radius, job seekers have the luxury of spreading their wings and applying to more positions across the country — and even the world. If the past year has proven anything, it's that employers now understand that work can get done just as easily from a cabana as it can from a cubicle. In fact, 83 percent of employers said their shift to remote work had been an outright success.

This is big, and can't be overstated if you're one of the many considering a switch this year. Remote work positions not only provide a greater quantity of geographically dispersed opportunities, but a greater quality, too. More choices means more chances of finding the perfect job, rather than settling for the just-OK option out of convenience.

It's no wonder, then, that 23 percent of our survey respondents cited remote work opportunities as their main reason for leaving. It also wouldn't be a stretch to assume that flexible working arrangements factored in at least somewhat among the 30 percent who selected better perks and benefits instead. Employers are seeing the importance of adding flexible scheduling to their incentive packages, with these kinds of work arrangements scoring as the second-most popular benefit respondents said their employers were now offering.

more opportunity to relocate

Changing jobs right now can improve your quality of life beyond just landing your dream job. Remote work can give you greater flexibility in what you do, but it can also give you more flexibility in where you choose to do it from. Twenty-four percent of respondents told us that they relocated as a result of remote work, signaling significant appetite for increased mobility in the new world of work.

While plenty of newly free employees stole away to sun-drenched Instagram-worthy locales, your relocation doesn't have to be nearly as dramatic. Moving closer to family, better schools or even just finally being able to live in a personal favorite place that before, would have been impractical, can be a huge advantage when considering your next career move.

From a salary standpoint, switching jobs and relocating now also presents a unique opportunity to get the numbers working in your favor. Forty-three percent of those who relocated after going remote said cost of living was the main motivator. Landing a remote job in an expensive city, but living in an area with a lower cost of living is smart economics, and it could give your savings accounts a little extra breathing room to help you enjoy all that your new location has to offer.

the onsite advantage

But what do you do if you prefer to work onsite or are in a field where remote work isn't possible? The water-cooler world is still alive and well, and even though it may not be grabbing all the headlines, there's still advantages to be gained if you're looking for in-person work.

Remote and hybrid arrangements are catching the majority of job seekers' eyes, and employers are desperate to attract new personnel who can be on the premises. Companies like Walmart, Costco and FedEx have recently raised wages, and others are turning to vaccination cash bonuses to attract onsite hires. Electing in-person work could also make you eligible for special benefits too. Life sciences company AbbVie, for example, created a childcare relief fund, offering grants of up to $1,500 to cover childcare costs for employees returning to work. Others, like Bloomberg, JP Morgan Chase and The New York Stock Exchange are employing additional incentives in addition to childcare like parking reimbursements and free lunches. It's a testament to how much has really changed this past year that showing up to work like you've always done can now net you the V.I.P. treatment. If new onsite work is on your radar, this is your time to shine.

breaking free from burnout

Even before the pandemic, burnout was becoming a big problem, and despite the added flexibility of remote work, it's only gotten worse. According to a Harvard Business Review survey, over 80 percent of workers reported that both their work-life balance and well-being had gotten worse, and 62 percent said they experienced burnout altogether. Finding a new role and changing your location can be the big shake-ups you need to break free from burnout if you've been experiencing it in your current role.

The world of work is in the midst of a major transformation, so if you're looking to find a new job to jolt you out of a rut, there's never been a better time to find one that matches your preferred working style. Fully remote, fully onsite and hybrid models all abound, which means you stand a greater chance of finding a job with a schedule that allows you to work where and when you're at your best.

considerations before committing

An inbox full of offers, freedom to work wherever and better work-life balance to boot. It all sounds great, but there's still a few things to consider before giving your two weeks and flying off to Fiji.

The Before-Times basics you always had to consider when changing jobs still apply today. While your new job may seem exciting, does it provide a clear path forward for advancement compared to your current one? Is the new opportunity really something that you're excited about, or are you just looking for a quick escape?

On top of all that, the realities of our new normal raise important questions you'll have to confront before making your decision. For example, what would your new employer's sick leave policy be, and, as a new recruit, will you be starting off with fewer sick days than you currently have? And how does your potential new employer's healthcare plan stack up to your current one? Fortunately, we've seen employers rise to the occasion on this one, with 41 percent of employees telling us their employers started offering new health and wellness benefits last year.

While vaccines may be available and hope is certainly on the horizon, COVID-19 is still an unpredictable factor that would be smart to account for in your planning. Are you comfortable enough to be a new hire in the event of a pandemic-induced slowdown in business? Seniority often plays a factor when it comes time to make those difficult headcount decisions for employers, so evaluate your industry to determine your level of risk. While you hopefully shouldn't have to worry about major shutdowns, COVID-19 has altered buying patterns and reprioritized the services that are in demand, and all that can have a big ripple effect on a business's bottom line.

key takeaways

If you're looking to switch jobs right now, there's certainly a lot of factors working in your favor. With burnout being high, and flexible ways of working materializing more and more, the ingredients are certainly all there to create a favorable climate for a job change.

In the end, it's a personal decision that will vary depending on your unique situation. Consider the COVID-19-related risks like sick leave, healthcare and industry vulnerability before committing, but don't let them stand in the way if you know the move is the right one to advance your career and achieve a better work-life balance.