You're at the top of your career game, commanding an impressive salary and living a lifestyle of luxury. And no doubt, you've worked hard to get where you are and even learnt to cope with the high-stress level of being a high-power professional. But lately, you've been unhappy about the high demands of success and can't shake the nagging feeling that you're missing out on something.

Perhaps it's the personal sacrifices you've had to make. You've missed so many precious family moments, neglected your personal health, or had to put your hobbies and passions on pause because you've just been too busy with work. And suddenly it hits you that life is too short to squander on relentless preoccupation with work, at the expense of what really matters. If this is you, then read on to consider if you should join the ranks of "downshifters" - overworked professionals who've opted for a better work-life balance.

When Less Maybe More

"Downshifting" became part of the workplace vocabulary a decade ago, and describes what happens when corporate high-flyers seek a slower pace of life outside the pressure cooker of demanding jobs. Rejecting their overworked, unhappy and stressed way of life, no matter how lucrative, these individuals look for less-demanding jobs at lower pay. Even though the downshift would typically involve financial and lifestyle cutbacks, the benefits, they believe, lie in taking back the right to determine their own destiny. They relish the greater control over how they spend their time and can proactively work towards achieving personal fulfilment.

The downshift trend has caught on today as more and more professionals are redefining their life priorities. And this is reflected in the rise in part-time, flexi-time and work-from home options these days. While the older generation saw their jobs as compulsory actually enjoy the work itself, but are miserable because it has taken over our lives to the point that our wellbeing is compromised. Often, we may not even realise that our job has slowly encroached into our personal time until we experience the fall-out from broken family relationships, displaced frustration or chronic health issues. If you're dying to spend more time with your spouse and kids, feel exhausted and irritable all the time or cannot find a spare hour for your favourite hobby, time with friends or have a regular gym workout because you're tied up at the office, it might be time for a downshift.

But putting on the brakes with downshifting does not mean giving up work totally. Rather, it is about finding ways to reduce work in pursuit of a more realistic and happy work-life balance. So, before rushing off to resign, consider if there might be any low-risk options for achieving this balance with some minor adjustments to your current job situation. Try talking to your boss first. You may just work out a win-win situation where he sees reduced work hours as a fair exchange for reduced salary costs. Explore options like taking on fewer projects, flexi-time arrangements or working from home a day or two a week. You might even consider declining a promotion or opt for a downward move. It won't be professional hara-kiri if you make it a point to reinforce your commitment to the organisation, and maintain your work quality and professionalism. Of course, your employers might refuse these arrangements based on company policy. If that's the case and you're sorely in need of some healthy balance, you'll have to explore a different job altogether.

You're ready for change. But what do you need to do before you downshift? Here are some considerations:

• Be Aware of Your Priorities and Needs

You have to know what you're after, and what you can afford to give up to get there. A four-hour workweek sounds great, but may not be a realistic short-term possibility. Make a budget that includes insurance, kid's education, home loan, retirement savings and any lifestyle luxuries, and see if the downshifted salary covers these expenses.

• Minimise Future Expenses

Clear up your credit card debts and other outstanding loans before you even consider a downshift. Also, think about changing your vehicle to a newer model to save future repair costs, and update other ageing home appliances before you start earning a lower income.

• Downsize Your Lifestyle

Be prepared to make lifestyle changes, such as having meals at home rather than eating out, giving up your favourite magazine subscription or cutting down your spa visits. It may even mean getting a smaller home or car, so you escape the "work-to-afford" cycle.

• Evaluate Your Skills

Know what you've got to offer in the marketplace. For example, if you've been a brand manager most of your career, you may not find many part-time jobs to match.

However, if you can use your skills and re-brand yourself as a project manager or marketing chief, you might stand a better chance.

• Probe the Prospects

If you're thinking of a part-time or freelance job, do your research thoroughly. Find out what the part-time job entails and the actual number of hours involved. Emphasise a balanced work-life priority to potential employers. If they appear uncomfortable, it's not likely they'll support your stand later.

• Invest in Yourself

Consider taking a course that will enhance your skills for your new venture. It might temporarily increase your commitments, but view it as an investment in your future freedom. Also check out available online or short-term programmes.

Whatever your decision, downshifting requires a great deal of thought, planning and commitment. Make a list of why you want to do it, how you are going to achieve it and what cutbacks you could make. While downshift-type jobs may not afford you certain luxuries, the upside is that you could have a better quality of life and rediscover what is truly important to you. So, if you're ready for the ride, step into gear and shift away!