Take the money or keep my job?

Question

The company I work for is offering all staff a very generous voluntary redundancy package. I am eligible for this and the money would pay all my debts (which cause me no end of stress) and give me enough to live on while finding another job. I'm well qualified and have no worries that I won't be able to find another role reasonable quickly. However, I really like the job I'm in now, I enjoy the work and get on well with my team. My career prospects are good if I stay here and the organisation have invested a lot in me in terms of training etc.

There's a lot to consider - other points of view would be appreciated. Stay here where I'm happy or take the money and run?

Answer 1

I'm assuming that this severance package is a one-time offer. If it is, I would take it, pay your debts off so you can live a stress-free life, and then find something similar to what you are doing now, with a company that is likewise similar to where you work now. If this plan works out, you will end up having the best of both. Sometimes it's good to get out there and just look and see what opportunities exist - in your situation you can do this because you'll have enough money to live on while you are looking around. You won't be in a desperate search for a job that you have to take because the bills are piling up. Take care and God Bless, and best of luck to you

Answer 2

If the company is offering ALL staff the very generous voluntary redundancy package, that doesn't say well about the future of the company. Do you know why they are offering this? Like, is it because a whole department needs to be shut down? What would likely happen to the remaining people? Do you get relocated to other parts of the company? From your information given, there are some serious doubts on the future of the company.

It is good that you seem well qualified and won't have trouble finding another job. How quickly can you pay off your debt if you stay in your current position? This is to be compared against the immediate pay off of your debts.

Answer 3

I think if I was in this position I would take the money and pay off debts which is a nice feeling as debt is always a pressure in the background. It doesn't sound too good for the company if they are handing out voluntary redundancies and I am sure you will be able to find an equally satisfying job with more security.

Answer 4

In my organization, there have been a lot of redundancies in the recent past. From what I have seen, if you are well qualified, have confidence in yourself, and not older than 50, then you are better off taking the money and going elsewhere. A friend of mine who I highly respect recently took a package. It took him a while (3 months) to find a new job, but his new job was way better than his old job. Plus, his package paid a lot of debts.

** Remember that packages are not easy to come by **, so don't look at it in a negative way. Look at it as an opportunity. There are people I know who are desperate to get a package... In Australia anyway, there is plenty of work available...

Answer 5

If you are offered this deal then your carreer-prospects may not be what you think they are.
Think of it this way: Is this the only job in the whole world? Will you absolutely with 100% certainty stay in this job until you're 65?
There are lots of jobs out there.
Most time when we switch jobs, we don't get free money.
You do.
If you skip the free money now, and you change jobs later, you're in the same position - only without the extra cash.

You say the money will help you to pay off debts: Excellent. That means less stress and a nicer life.
Just changing jobs wouldn't have paid off your debts. This free money does!

I say: Take it!

Answer 6

Just like in romantic relationships people often will stay just, because something is familiar or comfortable. You seem like a smart and understanding person. It wouldn't surprise me if you developed a good, team oriented, relationship with your new co-workers at a new company. It might be new at first, but things were probably a little rocky when you first got to your present company. Being in debt can be such a stress.. just imagine the good feeling to have that weight off your shoulders and not have to stress so much about where the money you're making is going. Life is too short not to enjoy it. I think you liked your work so much, becuase you have a positive attitude about things and that will carry over into anywhere you work. This is not my advice, rather it's my opinion, but as a person who knows that relieving the stress of money makes life so much easier, I think it's a valuable one.

Answer 7

Usually companies only offer generous redunancy packages when they are in trouble.

Personally, I would cut and run, because I would (a) be able to pay off my debts. (b) As well as my qualifications I would also have a glowing refence from my current employer.

Yes, you have been with the company a long time, and you will miss your work colleagues, but you will make new friends in a new job, and you can still keep in touch with your existing friends. You are talking of changing jobs, not amputaion.

Debt stress free! Think about it.

Answer 8

My neighbor asked me this very question 2 years in the past, and that i recommended her to take the dream interest. She has climbed the ladder making what she needs now and it in basic terms took her a twelve months to get it. I worked at a job that I hated because of the fact I made good money and function 3 childrens. I hated going to artwork and the week replaced into by no skill ending. in case you have a raffle to artwork at a place you adore you would be plenty happier. existence is to short to awaken each morning and dragging your self away from mattress to bypass some place you hate. Get somewhat time interest to make ends meet, if there's a will then there's a manner... good success!!!

Answer 9

If your stress are not ending by clearing your debts,and u are happy with your job then u must not leave your job/carrier and run away with the money offered to u . But if your stress is becoming exactly 75% less and u think that u will feel relax by accepting the offer of money ,then it is alright.
If u think that u will really leave your job and see for another job, then this site can help you:
naukri.com

Answer 10

That's tough. If you are that well qualified, then you may see what's available (test the waters). Most of us never have the opportunity to pay off our debts in this way. Financially, it seems to make a lot of sense to take the money, then find a job that is just as good. Talk with your family, too. Best of luck.