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I’m unhappy at work, but with retirement just a couple of years away, I’m torn between staying for a high salary and switching to a job I’d enjoy more but would likely earn less money at.

Elaine Varelas discusses strategies for managing career transitions and organizational changes, particularly for long-term employees in senior positions.

Ask the Job Doc. Boston.com

October 23, 2024

4 minutes to read

Q. I’ve moved up the ranks at my company, which is good, but I am miserable as I hate the company that it’s become with all the changes in the past year. The problem is that I am so close to retirement (within 2 years). I know I could get a new job that I’d like fairly easily, but I’d probably make half of what I make now, so I’m not sure what to do. Should I hang on and be miserable with a large income, or switch roles which might make retiring harder to achieve in 2 years?

A. So congratulations on moving up the ranks at a company where it sounds like you’ve been happy for a long time. Clearly, you’ve dealt with a lot of changes within your organization and are unhappy with the results of some of these most recent changes. Part of what happens with organizations as you become more senior is you become privy to all the inside workings of what’s going on at the company. You know the adage of “seeing how the sausage is made”? If you’re senior enough, then hopefully you’ve looked at how you can have a more positive impact on the company as it is today, and can influence others to create the best version of the organization you knew. It sounds like you either don’t think you’re senior enough or you’re not in the position to influence the changes you’d like to see at the organization.

As you consider the next two years, that time frame can be an extremely long time if you’re miserable or a short period of time when you’re happy. It’s great that you have confidence about getting a new job at a reduced salary. Looking at what matters to you most right now is the most important thing to prioritize. What matters to you most right now? Is it your mental health? Is it your happiness? Is it your long-term financial security and the length of your pre-retirement runway? While financial security is important, two years of misery can take a toll on your health and well-being. Evaluate the overall importance of mental health, happiness, and financial security.

One area that I encourage you to look at is your sphere of influence within your organization. Perhaps you’re taking too large of a look at the company itself, and the company in general, as opposed to your sphere of influence. If you can focus on making a positive working environment for the group you manage or are part of, then you may be able to be happy for these remaining two years. Ohers may see the impact you have on your group and ask how they can do the same. Consider the breadth of your ability to influence positive changes within the organization.

Have you thought about exploring a new and different role within your organization? This could provide you with a fresh perspective on aspects you may not like about the organization or the factors that affect you. Leaving is not your only option, and I encourage you to look at all your internal choices first. Talk to other long-term colleagues to see if they feel the same way you do or if you are having a negative reaction to change in general.

Kotter’s 8-Step Change Model is a well-established framework for effectively guiding and executing organizational change initiatives. It discusses the challenges of change, particularly when uncertainty looms, making it even more difficult to navigate. It talks about the fact that most people have a hard time dealing with change when they’re not involved in the change, when they don’t know how it will impact them, when their role changes, and if they either lose authority or gain too much responsibility.

This might be what is happening and you’re not getting the information you want and want to be able to share with your colleagues. Perhaps your organization is not motivating people to adapt to the changes, which can make it all more painful. Anticipating the negative reactions that people can have to change becomes important as well as monitoring how people are dealing with that change, and the support, and coaching they need to be able to successfully make the transitions, become significantly important. If you’re not the only one struggling with the changes, it might be time for your organization to consider investing in change management support, particularly during this type of organizational transition. Ask your manager or HR if this is something the organization would consider.

Look at all these aspects before you make a drastic decision that would have an impact on your financial security and your ability to find that new job at the same compensation level. Most people, when they’re later in their career, do anticipate having to take a pay cut when they switch jobs, but that’s not always the case. Knowing that you have the option of a new job may also make it easier to deal with the changes that are currently impacting you. It’s important to evaluate all your options and understand the challenges of organizational change before you make any significant career decisions.