Valuable lessons my Dad taught me about costly career decisions

Like many Baby Boomer families, my dad was the main breadwinner for our family of 7 and had already been working a corporate career for a good few decades before I got my first job. We bonded over study and career conversations as I went from teenager to young adult, and he taught me how to write my very first CV (thanks Dad!). With the wisdom of experience and a good dose of sheer common sense, I learned a lot of valuable lessons from having him as a father and a role model. 

Here are three of the ones that stick in my memory the most (and I often share with clients and students!):

Dad Lesson #1: “It’s easier to find a job when you already have one”

I remember my dad recommending that you should job hunt well before you need the new job. Waiting until your contract has already ended, you’ve already been laid off, or you’ve already left a bad boss or workplace to start looking for a new role is difficult from a financial perspective. Without money coming in, you may start stressing about how to pay the bills and put food on the table. Job hunting when you already have a job gives you choices about what role and salary you’ll take when you get offers, because you aren’t desperate to land any position. 

There’s a perception benefit to this, too. Contrary to what most people think, it looks good, not disloyal, that you’re already employed. It’s social proof of your value because if someone is paying you, you’re worth being hired. 

But there’s an energetic level to this too. Low confidence and self-doubt can plague job hunting and it’s hard to be a beaming burst of confidence to hopeful employers or go for the roles you truly deserve or the salary you’re truly worth. I tell my Leading Successful Change students all the time - that energy comes through at every step of the process, in your job ad search, submitting your resume, going to interviews and even having contract offer and salary negotiation conversations. In fact, we covered how to build confidence in taking the next step in career in one of our recent Monthly Coaching Calls.

The lesson here, and what the recent spate of layoffs and redundancies globally shows us, is don’t be passive when it comes to your career. Be aware, be empowered and be active by keeping your profile and CV up to date at all times and looking for a new role when you sense it’s time to move on, not waiting for career change to happen to you. And arm yourself with the tools, resources and support networks to have the confidence to make that move or be empowered with internal self-belief and self-worth if you do suddenly find yourself role-less (it happens!).

Dad Lesson #2: “You should never have to be out of pocket to do your job”

I always remember my dad saying you should never have to use your own money in order to complete the tasks required for your role. I was lucky as my first corporate role came with a corporate credit card, mobile phone, phone plan, and a fair bit of paid travel. But times are changing and companies can flake out of covering the expenses they are meant to cover for you to perform your role. 

Most big companies have people policies around reimbursements and allowances, so be sure you check them out and most of all - be sure to use them! If you can claim back miles and tolls from using your own car for a work trip, do it. If you’re going to the airport for a work trip, get the taxi or train fare or airport parking reimbursed. 

And often even social and team building events should really be covered by the company because it’s fostering valuable trust and culture. If you’re asked to do it, it’s a no-brainer you should be compensated for any expenses. If you want to do it, ask the question to your leader if it could be covered by the company. I remember a friend who used to stay up until midnight  baking a cake for the office every time one of her colleagues had a birthday, and I always thought about the cost to her in not just supplies, but time and wellbeing. If you can pay for the team birthday cake on the senior leader’s corporate card, do it! And this also goes for contractors - it might be that you submit the claims through your recruitment agency rather than directly with the client so find out what’s what.

It all adds up and you shouldn’t be out of pocket to do your job so get work expenses covered where you can (and obviously, where appropriate!).

Dad Lesson #3: “Think about the opportunity cost”

An opportunity cost is the cost to you from picking one course of action over another. It came up because I was working 4 days a week instead of 5, spending the other day filming videos, writing blog posts and preparing webinars and workshops in my side hustle. And the question came up: is it worth it? Especially when, in truth, I also used to spend that day off going to the dentist (I do maintain that my smile is part of my personal brand so perhaps it was a good use of business time!).

I was blessed and grateful to be earning such a ridiculously high income working in Change Management that working 4 days didn’t feel like an opportunity cost dilemma. In fact, I went on a big trip to Europe, had almost 3 months off, AND worked 4 days most of the year and earned the equivalent of a high salary. Freedom and flexibility, to me, was definitely worth the opportunity cost of real dollars from working 5 days. 

But this all changed when COVID hit because suddenly I wasn’t spending 2-3 hours of my day commuting and could spend that commute time working on my side hustle. The opportunity cost flipped back the other way and in fact the money I saved during that time working an extra day a week with nowhere to go gave me the comfortable financial cushion to move to my business full-time and set up my Leading Successful Change program.

No matter what your situation, you need to consider the opportunity cost and I’d say not just from a financial perspective, but also from an energetic and spiritual one too. Money is only half the equation - the life you dream of is the full picture.

So these three valuable lessons I have my dad to thank for. There were other things about his career and experience that I totally rejected and carved my own path for - like deciding not to work a job for life, be loyal to one employer, or choose the perception of safety of a permanent role and salary over the riskier opportunity of a highly paid contract - but like I said, times are changing. 

We’ll be talking more about how to approach change in your career (and avoid costly career decisions!) in my upcoming free Underpaid and Overlooked Confidence Workshop, kicking off on Monday 13 February. If you’ve already registered, you’ll have the calendar invite and worksheet now in your inbox. If not, register ASAP:

CLICK HERE to register your free spot for my Underpaid and Overlooked Confidence Workshop

Lata xx