‘Micro-retirement’, a move that is becoming popular amongst younger workers, refers to taking career breaks to pursue personal goals or interests, including traveling, or trying a new hobby. These are not employer sponsored and generally require an individual to resign and then to resume work at a later date, typically with a different employer.
This form of break allows young people to manage a healthy work-life balance, taking any necessary rest and fulfilling aspirations.
Peter Duris, CEO and Co-founder of Kickresume, explains to Digital Journal abut some actionable tips for employees and employers on approaching micro-retirement in the workplace.
Duris says, about this new tendency: “Pausing your career to travel, work on passion projects, or simply have a well-deserved break is a growing trend among younger generations—they don’t want to wait to have the freedom to do the things they want. Micro-retirement is a great way for workers to balance their careers with their personal lives. While some have ambitious career goals that see them climbing the ladder quickly, others have different priorities. Micro-retirement offers the freedom to explore those personal aspirations sooner rather than later.”
There are caveats, however: “But micro-retirement doesn’t mean leaving the workforce forever. People will often return to their careers after some time away. This time off can result in employees feeling refreshed and ready to jump right into a new role once they’re back.
“Although this way of working and living might sound stressful, it offers the chance to experience the best of both worlds! Putting your career on hold doesn’t have to be a bad thing, it can give young people the chance to do things that grow their confidence and help them learn more about themselves.”
Tips for employees
Choose your timing wisely
The best time to go on a micro-retirement is when you feel ready to leave your current job and take on a new experience. It involves a lot of planning and preparation! You need to make sure your notice period ends before you begin your micro-retirement, and that you have enough funds to last during your time away from work.
Make sure you have a financial backstop before quitting
It’s important that you are prepared financially for your micro-retirement. If you plan to travel for example, you should make sure you have enough funds saved up to cover all your expenses while you’re away. Also, bear in mind that you may not find the right job immediately after coming back, so make sure you have additional savings to see you through until then.
Make a plan
For a successful micro-retirement, having a plan is necessary! Taking the time to plan out what you’ll be doing during your career break, and what you plan to do when you return can help your micro-retirement go a lot smoother.
Refresh your resume
If you take a break between jobs, think about the best way to present this on your future job applications when you’re back in the job market. You can list it on your resume as a ‘sabbatical’ or ‘career break’. If you learned any new skills while you were in micro-retirement, don’t forget that this can be a selling point, whether you were volunteering or exploring creative hobbies.
Tips for employers
Plan for employee departure
If a team member is planning on going on a micro-retirement, it’s a good idea to have a plan in place to help with the transition. Start by wishing your employee well, and ask them to finalise any projects during their notice period. Make sure to let the rest of your team know and offer support where you can.
Reach out when they’re back If a team member is setting off on a micro-retirement, they may want to come back! Depending on several factors, it could be worth having a conversation about their return if they’ve expressed interest in remaining in the industry.
