How to Make Tough Decisions That Happen at Work
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“But there’s a danger in romanticizing the freelance life; there are plenty of potential drawbacks,” says Sharon Givens, a psychotherapist and founder of Visions Counseling & Career Center in Columbia, S outh C arolina. She suggests you tackle the question by considering the following factors. Finances. It’s often not enough to match your current salary, because your expenses as a contractor can be significantly higher. “If you have to pay for your own medical insurance, any travel expenses, upgrade your home office — these are significant costs you have to budget for,” Givens says. Plus, your taxes often go up, now that you don’t have an employer paying half your Social Security taxes. What’s more, freelance income can be highly irregular, so you’ll need to have a cushion of at least a few months’ expenses. Clients. Who will hire you? For a comfortable freelance life, a broad network is critical, so you should have that in place before you take the plunge. You’re probably not ready if you have only one or two potential sources of work. Aim to secure a contract before leaving your corporate job. Responsibilities. Freelancing means not only performing your typical professional role, but also taking on new duties, such as marketing and accounting. And when your computer acts up or you need to set up a web or social media site, a corporate IT staff isn’t going to swoop in and help you out. These additional tasks can cost you time, money, peace of mind — or maybe all three. Lifestyle. As a freelancer, you’re usually a team of one. “You have to really know yourself and what drives you. If you are motivated by sharing goals with colleagues and having that social interaction throughout the work day, freelancing may not be the right choice,” Givens says. “It can feel very isolating.” Karen Hube is a veteran financial writer and a contributing editor for Barron’s.
How to Make Tough Choices You Might Face at Work
Find answers to some thorny questions you could see on the job
Ryan Johnson Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. Ryan JohnsonI ve just been passed over for promotion for the second time — again to someone 20 years younger than me Should I make a stink about age discrimination or move on
Flowers & Gifts 25% off sitewide and 30% off select items See more Flowers & Gifts offers > Ryan Johnson There’s a much better option: Build a case for why you should be considered for a promotion, and present it to your boss in a calm, professional manner, says Jim Peacock, principal and founder of Peak Careers Consulting in Waterville, Maine. “You definitely don’t want to go in with boxing gloves on. There’s no way you can win that way.” To prepare, make a list of at least five ways you add value to your organization, each with an example of its impact, Peacock advises. If, say, one strength is that you are highly organized, cite how your systems keep the workplace running smoothly. If you have strong interpersonal skills, reference how you attracted new business, resolved conflict s with customers or serve as an unofficial mentor. In creating the list, consider assumptions your boss may have about you so you can counter them. “Your boss might have age biases buried deep and not even realize it,” Peacock says, adding that common assumptions are that . Hit on each assumption with a positive twist, Peacock says. “You might say, ‘I am always eager to improve my technology skills. I’ve never shied away from learning and staying up with new software or systems.’ Or, ‘I’ve loved working for this company and plan on working for another 10 or 20 years.’ ” Don’t underplay any of your strengths. You might assume they are obvious, but they are often not, especially if your boss oversees a large group or has broad responsibilities, Peacock says. After presenting your case, ask your employer for input, he says. “Say, ‘I am concerned I’m being overlooked for advancement. What can I do?’ ” If you continue to be overlooked and truly believe age is a factor, only then should you consider booking an appointment with your human resources department.I ve gotten a great job offer but it s 300 miles away and I can t work remotely Should I quit my current job and uproot my household in order to take it
It’s easy to get overwhelmed by a decision like this, which affect s not just your career but you and your family’s entire life. Rebecca Michel, an associate professor in the counseling program at DePaul Universit y in Chicago, recommends a decision-making ladder that begins with your values and ends with your preferences. On the first rung, detail all financial benefits or drawbacks of relocating, beyond just the obvious salary and benefit details, Michel says. Are housing costs higher or lower in the new location? Would your spouse or partner have to find a new job and lose income during the job search? Would you have to budget for more commuting expenses? Are there advancement opportunities at the new company? Next, consider your family’s circumstances. “If you’re in the sandwich generation helping both parents and young children, this gets more complicated,” Michel says . The implications of moving — finding caregivers , changing schools , switching doctors and health coverage — can be dealbreakers. AARP Membership — $12 for your first year when you sign up for Automatic Renewal Get instant access to members-only products and hundreds of discounts, a free second membership, and a subscription to AARP the Magazine. — a flexible schedule, no dress code, a pet-friendly office and maybe the freedom to pick and choose projects.“But there’s a danger in romanticizing the freelance life; there are plenty of potential drawbacks,” says Sharon Givens, a psychotherapist and founder of Visions Counseling & Career Center in Columbia, S outh C arolina. She suggests you tackle the question by considering the following factors. Finances. It’s often not enough to match your current salary, because your expenses as a contractor can be significantly higher. “If you have to pay for your own medical insurance, any travel expenses, upgrade your home office — these are significant costs you have to budget for,” Givens says. Plus, your taxes often go up, now that you don’t have an employer paying half your Social Security taxes. What’s more, freelance income can be highly irregular, so you’ll need to have a cushion of at least a few months’ expenses. Clients. Who will hire you? For a comfortable freelance life, a broad network is critical, so you should have that in place before you take the plunge. You’re probably not ready if you have only one or two potential sources of work. Aim to secure a contract before leaving your corporate job. Responsibilities. Freelancing means not only performing your typical professional role, but also taking on new duties, such as marketing and accounting. And when your computer acts up or you need to set up a web or social media site, a corporate IT staff isn’t going to swoop in and help you out. These additional tasks can cost you time, money, peace of mind — or maybe all three. Lifestyle. As a freelancer, you’re usually a team of one. “You have to really know yourself and what drives you. If you are motivated by sharing goals with colleagues and having that social interaction throughout the work day, freelancing may not be the right choice,” Givens says. “It can feel very isolating.” Karen Hube is a veteran financial writer and a contributing editor for Barron’s.