This morning I was interviewed for an article on ‘the things to consider when taking a buyout from your employer.’ We went through the obvious discussion of understanding the financial ramifications, the yin and the yang of the lump sum or installments, covering bases on insurance and investments. Then I said something that I’m not even sure I believe anymore.
I advised her readers not to sit too long before getting back into the job market.
I was warning against the temptation to take the money and use it like a mini-vacay or an interim retirement. I started talking all that old-school theory about too much time off between employment makes one less desireable for the next employer. But does it really anymore? In an age where books like “The Four-Hour WorkWeek” fly off the shelves, is there a stigma for taking a mini-retirement between gigs? Aren’t jobs becoming just that–a job? No longer a person’s sole reason for being? Business cards are no longer the means to validate your identity, but simply the vehicle to pass along your email address and your Twitter url (or whatever–I’m still trying to figure out the Twitter)?
Regardless of all that I do think that it’s much easier to get a job when you have a job. I think that’s related to some underlying psychological idea that everyone wants what the other guy’s got. So if you’re employed, you’re a challenge and a “win” for the new employer.
Anyway, back to my original thought. Are employers more understanding of time off between projects? Between gigs? Between jobs? Between careers? Weigh in on the topic. I’m anxious to hear other views.
The risk of taking a mini-vacation between jobs is that you are losing valuable skill-building time. By the time you decide you need money and want to re-enter the workforce, you’re at the bottom of the pile of qualified candidates. It is definitely better to find a new job while you have one. I think being unemployed and looking full time for new job is one thing, but what employer wants to hear that you took time off to polish your ski skills?
I must agree with the comment above. Employers are less likely to consider candidates who have significant gaps between jobs, so if you get laid off, utilize the time to learn a new skill or advance your education; I think any employer will take this as a positive outcome. However, we must take into consideration unexpected life events such as accidents – which takes individuals out of the workforce for a while. How do we address this issue?
Yanni