'Never quit, get laid off': Millionaire Dogen explains why a layoff is better than quitting & how to make it happen
Millionaire Dogen advises unhappy employees to strategically seek a layoff instead of quitting your job, as it can offer more benefits such as severance pay and unemployment benefits which can provide substantial financial support for your next move.
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.
Representational image| Credit: Unsplash
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.¡¯¡±
Representational image | Credit: Unsplash
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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Srishti B Dutta brings you everything from rags-to-riches tales and inspiring student success stories to those "No way, this can't be real!" moments. Whether it's intriguing, heartwarming, or just plain quirky, she's got it covered.
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