Breaking Free: A Financially Smart and Strategic Approach to Leaving a Toxic Job
Workplace toxicity is a harsh reality that many women face within corporate settings. Toxicity can manifest in many ways, having draining effects both mentally as well as physically. Many women have faced against these situations and although you may feel this is an isolating and overwhelming experience, you are not alone. In this article we will discuss how to recognise unhealthy environments, the effects they have on us and navigating options to reignite your career.
Signs of a Toxic Workplace
The first step in addressing a toxic work environment is recognising the signs. Most of the time, toxic workplaces can often masquerade as challenging environments. However, there is a difference between hard but manageable work, compared to feelings of being overworked and lack of support coming from manager and supervisor positions. These patterns of unhealthy behaviour can appear in a variety of forms whittling down your emotional fortitude. Some of these forms include:
Chronic Burnout: If you’re always exhausted, overwhelmed, or dreading the workday, the issue may not be just workload—it could be the culture.
Lack of Respect or Boundaries: Micromanagement, unclear job roles, constant interruptions, or disrespect for personal time are all red flags.
Discrimination or Harassment: Unequal pay, inappropriate comments, or exclusion based on gender or race are not only toxic but often illegal.
Hostile Leadership: Leadership that is unsupportive, dismissive, or abusive creates a culture of fear rather than growth. This can be an initial lack of support or later in one’s time in the company, for instance, after a change in manager.
High Turnover Rates: A revolving door of employees often signals deep systemic problems within the organization itself.
If your environment reflects anything mentioned on this list or any example that affects your mental well-being and professional growth it may be time to take action. Consider reporting it through the appropriate channels. This could mean filing a report with HR or consulting with a manager outside your immediate team.
Protecting Your Emotional Wellbeing
Leaving a toxic workplace is a liberating decision, but it can also stir up self-doubt. Recognising these signs is empowering because it confirms that your discomfort is valid and not just “in your head.” Trusting your intuition is crucial here.
Toxic workplaces can cause severe anxiety, depression, and burnout, all of which take a toll on you emotionally. Remind yourself that taking action to protect your mental health and well-being is an empowered choice. Recognise the courage it takes to face the reality of the situation and prepare to move on. Reframe any fears you may have about the unknown and consider this as a step toward a healthier, happier future.
Don’t be afraid to look for allies and support. Toxic environments often leave people feeling isolated and unsure if their experiences are valid, so leaning on a support network is also vital. Talking to trusted friends, mentors, or even a therapist can help you process the emotions. Seeking support isn’t a sign of weakness; it’s a way to stay connected to your resilience and rebuild your confidence. Quitting a high-paying job position can cause financial stress, however, with Women’s Wealth we are here to support you. Our professional assistance can reduce unwanted stress as we organise your finances and create a plan that works with you.
Planning for Exit
Sometimes your position in the company is somewhere you no longer want to be and the organisation’s culture is unlikely to change. This may result in planning your exit to be the best course of action. To begin, review any contractual agreements and understand the terms.
Document specific instances that reflect the toxic nature of the workplace—whether it’s emails, messages, or meeting notes. This evidence may be essential for HR discussions or legal purposes.
Have a clear vision of what you want from your departure, if you are unsure, you can seek professional help from lawyers or from your financial advisor. When you meet with HR or your manager, present your requests calmly and confidently. Advocate for yourself by explaining why these terms are fair. Be prepared to stand your ground, even if the conversation feels difficult; you deserve to be treated with respect and professionalism, even on your way out. If the company doesn’t take your requests seriously you may need to engage legal representation formally and then the company will normally start negotiations.
Financial & Legal Aspects of Exit
A large fear of leaving a company is the financial repercussions and the uncertainty of the future. Here are some key financial points to consider for your exit agreement:
Severance Pay: If you’re terminated or agree to leave under certain conditions, you may be eligible for severance pay. This amount can vary, so be sure to negotiate for a fair package.
Tax and National Insurance: You will pay tax on any unpaid wages, holiday pay, bonuses and payments you receive instead of working your notice and severance pay but you won’t pay tax on any contributions your employer makes to your pension scheme as part of your termination payment or any legal costs related to the settlement that you employer pays directly to your solicitor. And normally you will receive up to £30,000 tax free of any combined statutory redundancy pay and additional redundancy pay / enhanced severance pay. So make sure you negotiate legal costs and consider sacrificing some of your severance pay for additional payment into your pension through discussions.
Paid Time Off and Untaken Leave: Make sure you receive any payment owed for unused holiday or sick leave, as this is often legally required.
Stock Options and Equity: If you have stock options or other equity, check the vesting terms. Some companies have specific guidelines on how long you need to remain employed for these to become payable so consider the timing of your exit if this is a possibility.
Exit Bonus: If your company ask you to stay for a period to help with any transitions, consider asking for an exit bonus.
Relocation Assistance or Training: If you’re transitioning into a new field, you could request additional support, such as assistance with relocation or payment for professional development courses. Not all companies offer this, but it’s worth enquiring.
References: Be sure to ask the company for a good reference during negotiations and request permission to view this at this time.
Compromise / Severance Agreement: One of the key reasons that people don’t tend to talk about leaving a company is that you will be expected to sign an agreement which will outline the financial aspects of the agreement and in return you will be agreeing to not take any further legal action. You will also be expected not to talk unfavourably about the company when you leave. This agreement is legally binding and generally you want to leave on good terms so make sure you honour the intent of this agreement going forward.
Reinventing Your Career
Take the time to find a new role that aligns with your values, interests, and long-term goals. Think of this as an opportunity to rewrite your career story and reclaim the narrative. You are in control of what comes next, and you deserve a job where you feel respected, valued, and empowered. Even if you’re leaving due to poor conditions, many employers are willing to provide positive references so don’t be afraid to add this to your resume.
If you are unsure about your financial situation speak to us at Women’s Wealth as we are happy to support you in creating a personalised finance plan.
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