When to hold 'em, and when to fold 'em

I usually consult to companies, but recently an executive sought my advice. She felt that her job was in danger. Her manager had given her a performance improvement plan. They were going to have a follow up meeting in several days. My client was concerned about getting fired in that meeting, and wanted to know whether she should quit instead.

I could understand her rationale. If she quit, she didn’t have the “fired!” tag hanging over her head as she began a new job hunt. But was quitting the right decision for her to make?

I explained to her that I didn’t know the company's side of the story, and therefore could only give her general advice. I discussed three possible scenarios, with pros and cons:

1) QUIT IMMEDIATELY ("FOLD 'EM")

PRO: She isn’t fired. She leaves on her own terms, sort of. She can honestly tell potential employers that she left for personal reasons (or however else she wants to couch her departure from the company).

CON: In Washington, unemployment is often denied if an employee quits a job. There are exceptions, such as quitting because of illegal treatment, but that wasn’t the case here. Unemployment compensation isn’t a ton of money, but it’s something to help pay the bills while she job hunts.

Also, experienced recruiters and hiring managers can often tell who’s suddenly quit a job. Perhaps they’ll do their background research and learn why my client left her job. Or they’ll figure it out when talking with her during the interview process.

2) STAY PUT AND SEE WHAT HAPPENS ("HOLD 'EM")

PRO: It’s possible she’ll meet the expectations of the performance improvement plan (PIP), and everything will be fine. She could go on to have a good career with the company.

CON: She could fail to meet the PIP expectations and be fired. However, that’s not necessarily a terrible thing. Nobody wants to be fired, sure, but companies will often offer severance pay in exchange for the soon-to-be-fired employee’s signed promise not to sue them. In that sense, my client could still have a better hand than if she simply folded.

3) STAY PUT AND DISCUSS OPTIONS ("PLAY YOUR HAND AS BEST AS YOU CAN")

PRO: Is there training, mentoring, or guidance my client needs to succeed in her current position? Or, is there another opportunity in the company where my client could turn into a star? A good conversation with a willing manager and/or Human Resources person can help turn the tables around.

It’s also a potential positive for the company. If my client succeeds, that’s one less job they need to replace. Replacing employees is expensive and time-consuming, so it’s in the company’s best interests as well.

CON: There really isn’t any. If her manager refused to discuss options with her, then that’s that. It was worth a try, and she was back to the other two choices, above. Plus, I wouldn’t want to work for a manager who wasn’t willing to at least have a conversation about options.

I recommended that she envision all three scenarios playing out. That way, no matter which way the follow up conversation with her manager went, she was prepared. If my client wanted to get out before she was fired, she could have a resignation letter prepared in advance. If she wanted to simply accept the PIP, she could anticipate what her manager would say, and not lose her cool.

I’m happy to say that my client wound up having a great conversation with her manager about other possibilities in the company. Had she simply folded, she would have forever lost this opportunity. A few months from now, if she doesn't succeed, she could still have to fold her cards, but at least she’s playing this hand for all it’s worth.