Four ways to know whether to stay or go if your workplace is a sinking ship

Over the last few weeks, after a massive defeat^[1] at the UK general election, several senior staff in the Conservative Party have reportedly taken voluntary redundancy^[2], with more staff cuts^[3] expected to follow. Perhaps not surprising, as morale is not likely to be high. But it raises an interesting and broader career development question: is it better to leave an organisation in decline or which has suffered a major downturn? Or are there benefits to staying with it?

There are four main questions when it comes to deciding our career path after our organisation has undergone a major business failure, downturn or adverse event.

1. What’s happening in leadership?

First, we need to consider: will the old leadership remain in their positions? The likelihood is that they will be replaced, so the next thing to assess is if the new leadership is likely to be more resilient and successful than the former leaders.

Authentic and engaging leaders are more effective, and tend to get the most out of their subordinates, and retain them longer within the organisation. As Lao Tzu^[4], founder of the Taoist^[5] religion, reflected on leadership: “A leader is best when people barely know he exists. When his work is done, his aim fulfilled, people will say, ‘we did it ourselves’!”

2. Am I valued?

More important than what’s happening to the leadership is: will they be more or less likely to value my contribution and skills? That is to say, do I see greater opportunities in the medium to long term by staying rather than leaving?

This, of course, may require staying put for a while, to assess the new management and what opportunities come your way. This reflection period will help you consider your future career decisions. As Renaissance polymath Leonardo da Vinci^[6] wrote: “To remain constantly at work will diminish your judgement. Go some distance away, because work will be in perspective and a lack of harmony is more readily seen.”

3. What’s the damage?

Then you need to consider whether your “personal brand” has been damaged by being associated with the failed organisation. If you think it has, than leaving may not be the optimal solution, because it may be very difficult getting a job, particularly in the short term.

4. Is this a chance for change?

This will lead to another consideration. Is this an opportunity to do something entirely different, given your skill base, rather than continuing in this function or sector? Would it be best to do something entirely different? As US industrialist Henry Ford wrote: “If you always do what you always did, you’ll always get what you always got.”

In making up your mind to leave the sinking ship, don’t automatically seek another job in the same role or sector. Take some time to think through a range of options.

Read more: How software developers feel about AI reshaping their work – and what this tells the rest of us^[7]

A new path

It’s a lie that people hate change. In my book, The Myths of Management^[8], co-authored with Stefan Stern, we write: “It’s not true that ‘people hate change’. Bought new clothes recently? Or even a new car? People hate stupid, unnecessary, imposed change.” We go on to conclude: “They can and will cope with it — even enjoy it — if you give them a chance … and a say in the process.”

Taking control of a new career path means identifying your strengths and weaknesses, as you explore the various options open to you.

References

1. ^{^} massive defeat (theconversation.com)
2. ^{^} voluntary redundancy (www.ft.com)
3. ^{^} staff cuts (www.thelondoneconomic.com)
4. ^{^} Lao Tzu (www.theindustryleaders.org)
5. ^{^} Taoist (www.bbc.co.uk)
6. ^{^} Leonardo da Vinci (www.forbes.com)
7. ^{^} How software developers feel about AI reshaping their work – and what this tells the rest of us (theconversation.com)
8. ^{^} The Myths of Management (www.koganpage.com)
9. ^{^} Ron Fassbender/Alamy Stock Photo (www.alamy.com)
10. ^{^} John Ruskin (www.britannica.com)