{"id":10335,"date":"2019-08-24T09:20:59","date_gmt":"2019-08-24T13:20:59","guid":{"rendered":"https:\/\/ioadvisory.com\/?p=10335"},"modified":"2020-07-07T08:16:52","modified_gmt":"2020-07-07T12:16:52","slug":"golden-handcuffs-when-to-take-them-off","status":"publish","type":"post","link":"https:\/\/ioadvisory.com\/blog\/golden-handcuffs-when-to-take-them-off\/","title":{"rendered":"Golden handcuffs – when is it worth taking them off?"},"content":{"rendered":"
\"Golden<\/a>

Golden handcuffs as explained on LinkedIn<\/p><\/div>\n

Many people, including some of my clients, feel as if they are stepping into an invisible cage when they arrive at work. Years ago, I had the same feeling. Sure, there are no physical bars on the windows, (if they are fortunate enough to have an office window) but the negative impact of an unfriendly, boring and\/or unstimulating workplace can be significant.<\/span><\/p>\n

As one client expressed recently,<\/span><\/p>\n

\u201cMost days I want to leave my office and never come back; I feel as if I\u2019m suffocating. But, can I really justify the financial hit that will directly impact my family, if I decide to pursue something else? I\u2019ve got a kid going to university in a few years, and I want to be able to retire around the same time as my partner.\u00a0 I also don\u2019t want to lose the lifestyle we are accustomed to.\u201d<\/em><\/span><\/p>\n

What I took from that comment is that my client felt bound by the age-old issue of having a job you hate but also knowing it affords so many privileges that will be hard to give up. This is often called the Golden Handcuffs.\u00a0<\/span><\/p>\n

Things to Consider Besides the Golden Handcuffs<\/strong><\/span><\/h2>\n

Sometimes, there are no easy answers to this problem. Depending on the specifics of a person\u2019s situation, it may not be practical to trade in the golden handcuffs job for something more appealing \u2013 especially if the new job may not meet one\u2019s financial needs (or preferences). This is especially true when a recession may be looming or when we\u2019re under other types of financial pressure (e.g., student loans, saving for a home, divorce\/separation, the costs of post-secondary education for our kids, etc.). Those external factors warrant consideration before throwing off the golden handcuffs. \u00a0<\/span><\/p>\n

\"OCEAN<\/a><\/span><\/p>\n

I do, however, realize how important it is (at least for some people) to have a basic level of career fulfillment. This is especially true for \u2018Type A<\/a>\u2019 people who love to work and have no desire to stop achieving new professional goals or earning money. So, one way that I support and encourage my clients (<\/span>mostly high a<\/span>chievers) is to help them identify future jobs that are a better match for their skills, experience, and interests. This can include taking careful stock of their work history, values, priorities, and credentials to reframe them in a way that will resonate with future employers. This may include a career assessment and\/or adjustment to their resume, cover letter, LinkedIn profile, job search strategy, and how they answer interview questions.<\/span><\/p>\n

When I\u2019m working closely with a client, I can help them spot red flags during the hiring process<\/a> so that they can avoid going from the proverbial frying pan into an equally hot fire.<\/span><\/p>\n

<\/h2>\n

<\/h2>\n

Two Signs that the Golden Handcuffs are Doing More Harm than Good<\/strong><\/span><\/h2>\n

1. Poor Work Environment<\/strong> – If you find yourself working in a\u00a0toxic environment<\/a>, or have become the victim of workplace bullying<\/a>\u00a0or\u00a0sexual harassment<\/a>\u00a0then even substantial pay, benefits, paid vacation time, etc. should not be treated as a consolation prize for putting up with abusive behaviour. In the long term, the impact of a stressful work environment can take a toll on your physical and mental health. See these past blogs for further details and related resources:<\/span><\/h3>\n