'Never quit, get laid off': Millionaire Dogen explains why a layoff is better than quitting & how to make it happen
Many people get frustrated with their jobs¡ªwhether it's due to overwork, a toxic work culture, or the threat of layoffs¡ªand feel tempted to quit.?
However, according to a U.S.-based multimillionaire, there's a smarter approach to leaving your job that can help you navigate these challenges more effectively.
¡°Never quit your job. Get laid off instead,¡± Dogen tells CNBC MakeIt.?
The 47-year-old Dogen is the millionaire founder of Financial Samurai.
Over a decade ago, he took his own advice and found that strategically securing a layoff can often be more advantageous than quitting voluntarily.
¡°As a previous boss myself, the worst thing that can happen is when an employee of value quits and gives you two weeks¡¯ notice or less,¡± he says.?
Instead, Dogen?suggests a tactful approach to leaving your job: He?recommends speaking with HR or your supervisor to express dissatisfaction and request changes.?
¡°You might say, ¡®I¡¯m not happy here and would like to make some changes. Ultimately, I¡¯d like to leave if these changes aren¡¯t made.¡¯¡±
This approach, Dogen argues, creates a win-win situation.?
Your employer might respond by offering a raise or more flexible hours. ¡°No employer wants someone whose heart isn¡¯t in it anymore,¡± he reveals.
If your company can¡¯t meet your needs, then he suggests taking the conversation towards a mutually beneficial exit.?
¡°Propose, ¡®Let¡¯s figure something out. I¡¯m willing to stay as long as needed to ease the transition, but let¡¯s discuss a severance package,¡¯¡± Dogen advises.
By getting laid off, Dogen points out that you can access unemployment benefits, a severance package, deferred compensation, and subsidised health care¡ªwhich in turn will provide a substantial financial support for your next move.
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