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Resignation

Moneyzine Editor
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Moneyzine Editor
1 mins
September 26th, 2023
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Definition

The term resignation refers to an individual that willfully terminates their employment. When an individual resigns from a company, they typically provide their employer with two weeks' notice.

Explanation

When an individual resigns from a company, they are taking the initiative to leave their employer. This differentiates resigning from employer-led actions such as terminating or laying-off employees. When an employee tenders their resignation, they will provide their employer with a brief letter formally documenting this decision. The workplace standard is to provide their manager or supervisor with two weeks' notice, allowing the exiting employee to transition their work to another associate.

While an individual may decide to resign for a number of personal or workplace-related reasons, some of the more common motives found by various studies include:

  • The inability to fit in, or adapt to, the company's corporate culture.

  • Failure to understand how their roles and responsibilities contribute to the success of the business.

  • A lack of advancement opportunities or the ability to learn new skills.

  • Poor relationships with coworkers, especially their teammates, supervisor, or manager.

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