“To get what you want, you have to deserve what you want. The world is not yet a crazy enough place to reward a whole bunch of undeserving people.”
― Charlie Munger
Several years ago, a call interrupted my Sunday night family dinner mid-meal. It was from my boss.
He demanded that I go to work immediately and fix a problem.
Sigh.
For many people, that kind of thing on the job is common. After all, you are expected to immediately do as you are asked.
But there is a second message too. A statement like that is not just an order to act: it underscores that work must always be your priority above everything else.
So, forget your Sunday night family dinner.
I came in.
In another year, I left that job.
QUIET QUITTING
It was tempting to tell the boss off. But I didn’t.
However, these days a lot of people are. But they are not shouting or even speaking. They are not being disobedient, either. Instead, many people are just quietly doing the minimum. No more, no less. This phenomenon, called quiet quitting, has recently become an important topic of discussion in business journals. By one estimate, over fifty percent of employees believe and follow this way of thinking.
Quiet quitting manifests itself in different ways. Employees who practice quiet quitting:
- Don’t offer any voluntary unpaid overtime to their employer. As far as they are concerned, regular hours are regular hours.
- Do not want to discuss how they feel about working with their boss.
- May attend meetings, but do not add anything. Worse, they may skip meetings altogether.
- Have productivity that is average at best.
- Take no actions that show they want to be promoted.
But why?
Well, the pandemic is a significant reason quiet quitting has increased. I don’t know about you, but facing my own mortality and that of loved ones makes you question everything, including your commitment to work and how you should spend your time. That has encouraged quiet quitting. Employees have decided they have more to do with their time than work.
QUIET QUITTING AND THE WORK ENVIRONMENT
A lot of people also feel disenchanted by the actions of employers. It is hard to feel enthusiasm when you:
- Don’t feel valued
- Are underpaid
- Have no chance for advancement
- Are belittled, micromanaged, or not respected
- Are not consulted for input or communicated with in any meaningful way.
- Have a schedule that can be disrupted or changed in an instant.
- Don’t have anything to look forward to.
WHAT EMPLOYEES ARE FEELING WITH QUIET QUITTING, AND WHAT CAN THEY DO ABOUT IT
Much of quiet quitting is about employees feeling they have lost control of their own time.
But quiet quitting is not the only way to deal with the loss of control. Some strategies to regain time control in your private life are:
- Plan for and make use of your own time. Take vacations. Don’t leave paid time off on the table. The time given to you is supposed to be used to regenerate your enthusiasm and recharge your batteries. Use it.
- Set aside time to be out of communication with work during weekends or holidays. If you must check emails on the weekends, check them at prearranged times. To constantly check emails during weekends is to lose control of time. Instead, check once a day, at most, and always at the same time.
- Set aside private time for friendships, hobbies, and your spouse/friend at prearranged times.
Nonetheless, time is only one issue. Having something to look forward to is another.
For instance, if you are disenchanted with the lack of advancement, it might be time to share your dreams. Start by discussing what you can do for your boss and employer first. A push for advancement will likely be successful if there is a mutual benefit to your dreams with your employer.
QUIET QUITTING AND READERS: IF YOU ARE A QUITTER, CHANGE YOUR ATTITUDE, AND SOON—A RECESSION IS PROBABLY COMING
Let’s be blunt: the quiet quitting strategy only works in a good economy.
There is a shortage of workers right now. But if a recession is coming, the shortage won’t last.
And financial professionals who follow the market are starting to wonder about a recession. Inflation is nearly double digits. With more to come, the Federal Reserve has raised interest rates 75 basis points three times in a row. That means mortgages are at six percent, not three percent as they were about a year ago. And they could likely go higher. The cost of borrowing will choke off demand for everything, not just real estate.
Eventually, employers will be affected, and unemployment will go up. In that environment, quiet quitters will be the first to be let go.
WHAT YOU CAN DO
First, get rid of complacency whether you are quiet quitting or not. No one owes you a job. For most people, their job is their primary source of income. So to protect it, stay valuable and attractive to your employer.
Communicate with your coworkers, boss, and others in the office. If you are invisible and without social connections, you may also be the first to be let go.
Keep your job skills sharp.
Make connections within your industry. You never know if you may need them.
FINANCIAL INDEPENDENCE AND CONTROL
Just as quiet quitting is a way to take control of your life, so is pursuing financial independence. For instance:
- Take a hard look at your finances in case something happens. Are you diversified? Do you have reserves or other sources of income? Do you have a strategy if you lose your job?
- Think about looking at your current expenses and think about paring them down. If a recession comes, it will be hard because many families have not protected themselves. A shocking percentage of people who earn $250,000 per year live paycheck to paycheck.
- Put together a long-term plan. Remember, if you have quietly quit because there is nothing to look forward to, establishing longer-term goals can help give you more of a purpose and make you happier.
SUMMARY
I hate to write posts like this. And maybe my concerns about the economy are wrong.
But the primary point holds: complacency in your job or personal finances is dangerous right now.
Instead, take the time to think through what you would do if the economy turned down. Be prepared.
All of this explains why I want to help you achieve financial independence. Independence gives you the chance to make choices for the kind of life you want. Quiet quitting also looks like a way to retain control, BUT it depends entirely on the actions of your boss and employer. When you achieve financial independence, that allows you to achieve what you want—but without giving the ultimate control to someone else.
Disclaimer: consult with a financial fiduciary before taking any steps outlined here. Not all advice may be suitable for your circumstances or investment style.
Photo Credit: Magnet.me
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