There are many different reasons that you might find yourself switching from a full-time to part-time job. Depending on the reason, there are specific things that you should take into consideration before you make the move. Here are ten things that you want to know before you make the switch.
1. Why Are You Switching From a Full-time to Part-time Job?
Before you take anything else into consideration, you have to ask yourself why you are considering switching from a full-time to part-time job. Common reasons include:
- Your employer has given you the option to go part-time or get laid off.
- You want to spend more time with your family.
- Facing chronic illness, you need to reduce your hours for your mental and/or physical health.
- In order to go to school, get advanced training, or start your own business, you’re scaling back your full-time work.
- As expenses have changed, your need to work so many hours has decreased.
These are just a few reasons. As you can see, though, they each have very different motivations. As a result, you’ll consider different factors. If you’re forced to take a part-time position then you might focus on doing the best that you can while looking for new full-time work. In contrast, your goal with starting your own business might be to transition your full-time job from 50 hours down to 30 then later down to 20, etc. until your own business is your new full-time career.
Know your reasons for switching from a full-time to part-time job. This helps guide all of the other decisions you’ll make about this move.
2. Set Goals For Your Part-Time Work
If you know the “why,” then you can set goals. Many people worry that their work doesn’t matter as much if they aren’t devoting full-time or more to it. However, part-time work can be very fulfilling – both in and of itself and as a stepping stone to something else. Set short-term and long-term goals for your part-time work. What do you want to get out of it? What do you want to achieve? Make this work as meaningful as possible.
3. Spend More Time Budgeting
The most common thing that people experience when switching from a full-time to part-time job is obviously a change in pay. Make sure that you anticipate this, plan for it, and adjust your life accordingly. Redo your entire budget to accommodate for this change.
Sometimes, you might be surprised to discover that you actually earn more working part-time than you expected. This might be because it drops you into a lower tax bracket. Alternatively, it could be that you switch from salaried work to hourly pay in a way that works well for you.
Usually, though, you do see a natural reduction in your income. Therefore, you must adapt for that. If you can make this work then the rest of the issues that can potentially arise with switching from a full-time to part-time job will go a lot more smoothly.
4. Don’t Forget To Review Benefits
Make sure that you fully understand how your various benefits are impacted by switching from a full-time to part-time job. Are you still going to have health insurance through your company? At what cost? How does this change impact retirement? Are there other things that your company pays for now that you won’t see covered if you switch to part-time? These are all hugely important considerations that are a part of the financial factor of making the change.
Sometimes when you switch jobs, you do so within the same company. In that case, you can go to HR or your manager to find out exactly what changes if your hours change. If you’re moving to a different company entirely, then you might have to do some of the research on your own. In either case, make sure you completely prepare for these changes before making the move.
5. Consider How Working Less Saves Money
FlexJobs points out this additional key financial factor that relates to budgeting. If you’re working less, then what are you doing with your time. In some cases, what you do might allow you to spend less money. For example, do you pay a dog walker, babysitter, or housecleaner to work in your home while you’re at the office? If you’re home more, can you reduce their hours and save that money? This depends on why you’re switching to part-time work, of course.
6. What Does Losing Your Title Mean?
Many people who switch to part-time work lose their current title. You obviously worked hard to gain that status. As a result, you might want to think about what this could mean for you. Does it have potential repercussions for future employment opportunities? Is it something you need to work through emotionally because of the ego-hit you take with this change? It may not matter much to you at all or it may be a big deal. Acknowledge where you’re at with this part of the shift.
7. Your Relationship With Your Company Will Change
Maybe you’ll stay in the same company with a new job (or the same job with reduced hours). Perhaps you’ll start somewhere new. Whatever the case, your relationship with the company is going to change as a result of this change you’re making. You may not even be able to anticipate how, but it’s something to think about. Potential changes include:
- Less emotional drain at work could mean renewed passion for the job itself
- On the other hand, less daily connection with the job could mean a lack of investment in it
- What does less direct contact with other staff mean for you, positive or negative?
- How will your relationships with different staff members change in your new role?
- Are there decisions you’ll no longer be a part of? If so, is that positive or negative for you?
- What will you lose and what will you gain from this change?
8. Can You Increase Your Specialty While Going Part-Time?
Many people think of part-time work as a step down. However, that’s not always the case. For example, you might move into a position that allows you to hone your focus and narrow in on a unique expert speciality. Working less hours, you might actually be able to use those hours more wisely. Think about how this can be true for you.
9. You Get To Redefine What Work Means For You
Every single time that you change your job, it’s an opportunity. You can pause and ask yourself anew, “what does work mean to me?” Dig deep.
10. How Will You Use Your New Time?
We talked about this previously as it relates to budgeting. In other words, you might perform some household tasks to save money on outsourcing them. However, think beyond this. If you gain ten or twenty hours per week from going part-time, what will you do with that time? Don’t just imagine it loosely. Really sit down and picture it and plan for it. There are so many things you can do for yourself, your family, your community, or the world around you with those hours. What do you dare to dream of doing?
Read More:
- 4 Part-Time Jobs For Veterans
- These Hobbies Can Make Awesome Second Jobs
- Take a Job for the Discount and Other Perks
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Kathryn Vercillo is a professional writer who loves to live a balanced life. She appreciates a good work-life balance. She enjoys balance in her relationships and has worked hard to learn how to balance her finances to allow for a balanced life overall. Although she’s only blonde some of the time, she’s always striving for total balance. She’s excited to share what she’s learned with you and to discover more together along the way.
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