Why It’s Worth It | Most likely, we have all debated quitting our jobs, only to falter, question our thinking, and tough it out. This is our innate “gritter,” and society loves to celebrate this tenacity. But what if quitters have it figured out? What if quitting is the best decision we could ever make?

In a fascinating episode of ReThinking, Adam Grant speaks with Annie Duke, a Decision Strategist who became a professional poker player after being forced (by external circumstances) into leaving her graduate studies at UPenn. They discuss her book Quit: The Power of Knowing When to Walk Away, which offers a fresh perspective on the topic of quitting.

Drawing on insights from both poker strategy and scientific research, Annie and Adam delve into the subject of quitting, focusing primarily on quitting in the workplace. However, the principles and strategies that Annie presents can be applied to all aspects of our lives.

Annie firmly believes we can be both “gritters” and “quitters.” She argues that quitting is undervalued in our society – that knowing when to walk away from a job, a relationship, or a project is a crucial part of creating the life we truly want. This episode offers valuable insights into the psychology of staying too long with jobs, people, and projects, overcoming biases that impede progress, determining the optimal path forward, and deciding when to walk away (and feel good about it!).

Background | Some key takeaways from their conversation include:

• Loss cutting – This essential component of game theory also applies to everyday decisions: humans are notoriously stubborn about walking away once invested. Case in point, the ability to fold separates professional and amateur poker players in Texas Hold ’em. Pros can walk away 25-30% more often. 
• Being sticky – This equates to being unable to quit or becoming “stuck in the game.” Being sticky can apply to all aspects of life in which we invest time and money.
• Bias against quitting – Adults have a strong societal and cultural bias against quitting and undertake all sorts of rationalizations to stay stuck, including (1) the sunk-cost fallacy and (2) fear of quitting and making the wrong choice. 
• Kill criteria– It is hard to avoid becoming “stuck,” be it in a career choice, employer choice, current role, or even more granularly, on a specific project. One solution is to establish a “kill criteria,” the limit at which we walk away. This marker could be setting a results-based deadline or creating a timeline to quit and undertake a new career path if things don’t improve.   
• Omission-Commission Bias – Many of us follow a daily routine. We take comfort in this predictability and don’t usually get sidetracked when something negative happens during the day. The unknown can be much more worrisome. Scientific studies have shown that humans are more likely to tolerate negative outcomes that result from things we are already doing, which is called “omission.” Conversely, we tend to be less tolerant of negative outcomes resulting from changing or trying something new, called “commission.” These tendencies create a strong bias against quitting or making changes.
• The pain of regret – We tend to be risk-averse and avoid making choices that could lead to negative consequences. This fear of making the wrong decision can often cause us to remain stagnant and hesitant in our current situation, even if we want to change our path. We tend to assume that if we make a switch and things turn out poorly, it must result from our flawed thinking. 
• Constant revaluation – It is incredibly liberating to understand inherent biases so we can constantly re-evaluate where we are and where we are going.
• External validation – We often seek validation and acceptance from our peers, colleagues, and superiors. Sometimes, this can make quitting a project, job, or career challenging due to work pressures or feedback. Finding trustworthy mentors, supportive friends, or impartial professional coaches is essential to help us navigate this tricky terrain. It’s worth remembering that often people in the same boat as us resist change, so be careful when picking this person. 
• Monkeys and Pedestals – X, a division of Google, has developed a method (Monkeys and Pedestals) to identify the most challenging part of a project. It suggests tackling the most difficult part first will determine validity, a concept that eviscerates the start with a “low-hanging fruit” approach. Applying this approach to a work project will help us quickly assess if we should quit and move on to another idea. 

Source | Rethinking podcast: Knowing when to quit with world poker champion Annie Duke – January 3, 2023 (original Authors@Wharton broadcast)

About | Adam Grant is a well-known organizational psychologist and wildly popular Wharton professor. He is an accomplished writer, a profound thinker, and a thorough researcher, covering various subjects to help people discover purpose and motivation and lead more creative and generous lives. Adam’s content includes New York Times bestsellers, TED podcasts and talks, columns in various publications, and GRANTED, a free email newsletter (sign up on his website!). Adam encourages us to constantly question our ideas and rethink our beliefs.