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Old 05-17-2013, 02:12 PM   #21
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I told my boss a couple of days ago that I am planning to retire "sometime this summer". She kind of freaked out, thinking I meant any day now...lol. I assured her that when I nailed it down to the actual day, she'd be among the first to know. Realistically, I'll probably give 60-90 days notice, officially. At the moment, I'm thinking hard about the end of September.
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Old 05-17-2013, 02:57 PM   #22
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Originally Posted by martyb View Post
I told my boss a couple of days ago that I am planning to retire "sometime this summer". She kind of freaked out, thinking I meant any day now...lol. I assured her that when I nailed it down to the actual day, she'd be among the first to know. Realistically, I'll probably give 60-90 days notice, officially. At the moment, I'm thinking hard about the end of September.
You and I have a very similar plan:
  • My last day should be Sept. 30
  • I have already given CEO verbal notice
  • Formal written notice will be before July 1 (90 days)
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Old 05-17-2013, 03:03 PM   #23
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Depends on your company culture and your particular situation. At MegaMotors, once the word was out, you were effectively retired, as all anyone really wanted to know was who your replacement was so that they could start making future agreements with them.
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Old 05-17-2013, 04:02 PM   #24
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Your decision should be based on your needs, not the needs of your employer. If you were leaving your current job for another job, you would only be able to give a few weeks notice, so I think giving three months formal notice would be very generous.

If there is no danger of consequences, you could hint that you are considering retiring early to see what the reaction is.
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Old 05-17-2013, 04:02 PM   #25
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Or you could bring the issue up in a hypothetical discussion.
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Old 05-17-2013, 04:14 PM   #26
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I don't mind my job so much and the boss in normally O.K. to work for but I don't trust the company as far as I could throw them. There has not been a voluntary retirement from this place in over ten years because the older employees are "forced out".

I plan to hang on until after my bonus hits my bank account next April 15. If they give me a fair bonus for 2013 I will give them 2.5 months notice. If they screw me over (announced recently that next year's bonus is being calculated using a new, as yet unspecified new formula), I will probably give them 1.5 months notice and burn up some vacation time to boot.

I don't dare mention a potential retirement date before the bonus or I know they will short change me.
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Old 05-17-2013, 04:26 PM   #27
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You are assuming that they will want to replace yourself with a clone of you. That might not be the case. When they selected my replacement he was the opposite of me. I was very hands-on. He was an administrator. Turns out management wanted to have contract workers do the hands on and the administrator administrate. Didn't do any knowledge transfer at all.
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Old 05-17-2013, 04:39 PM   #28
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I gave three months notice. The boss was happy, but something unexpected happened. My duties were transferred to several employees and I had nothing to do for 3 months. The older employees quickly absorbed the extra work, but the bulk of my work fell on someone with 6 months experience out of college. She didn't get that she needed to ask a ton of questions until the last 2 weeks when all I wanted to do was run around and say goodbye.

I didn't sign anything until 2 weeks before the day, so they couldn't start the hiring search.

So if I had it to do over again I would have given them 2 weeks just to keep from being bored. The goodbye process dragged on as well.

If you plan to come back as a consultant, I would give the at least a month. 2 weeks is kinda standard, but in my opinion a little rude if you know this much in advance.
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Old 05-17-2013, 04:40 PM   #29
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Or you could bring the issue up in a hypothetical discussion.
" Let's say that I have a friend that wants to retire....."
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Old 05-17-2013, 05:25 PM   #30
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I gave my employer 4 weeks' notice today, which is 2 more weeks than I would have except my employment contract requires the longer notice if I want to be paid for my unused vacation time.

The longest notice I've given is 5 weeks at Megacorp out of respect for my awesome boss. After I left, they divided the work among other people and waited over a year before hiring my replacement. I didn't kid myself into thinking I was that important, so it was no surprise. My predecessor had 30 years with the company, and after he was gone a week, it was like he'd never been there. I saw this repeatedly as long-timers retired, so I knew my departure would affect Megacorp even less.
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Old 05-17-2013, 06:09 PM   #31
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I signaled that I would be retiring about 5 years out. One morning at breakfast with my boss (who I had a great relationship with) shortly after I turned 50 he casually asked me what I was thinking about in terms of retiring (he asked it more as a friend as a boss so I wasn't offended in the least). I told him zero to 5 years, with a smile and we had a good laugh. I ended up staying 6 years after that, in part due to the recession and the fact that I wanted to get down to one house before ER.

I was also in a niche role, and while they sometimes told me they wouldn't know what to do without me, I knew better and told them that they had a bunch of smart people and I knew they would be fine once I left.

Once our home was sold, I indicated that I planned to leave but that I was flexible in when in that it was important to me that I not leave them in a bad spot. I left a few month later after they had internalized the fact that I was leaving and we left the possibility of some consulting open if it was needed. They've never called and that is fine with me - I guess I was right that they would figure it out.

It worked out well and we were all happy with the outcome.

Perhaps when you get 12 months out you can simply frame it that you plan to leave but want to work with them on a transition plan that does not leave them in the lurch and that you can all be happy about.

Have you considered transitioning to part time or some post retirement consulting with them? If so, that might be part of the transition plan but as others have advised, don't waver - these organizations will take all you are willing to give so you need to set boundaries and stick to them.
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Old 05-17-2013, 06:22 PM   #32
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About a decade prior to ER, I was fortunate to have an opportunity to start a new functional unit and to design my own job description as well as the business plan. From day one I worked with senior management to make sure they understood the importance of building and transferring organizational knowledge. Over the years we were fortunate to be able to mentor and inspire many bright young people in the niche. I was contractually obliged to give 90 days' notice and gave 120 days. They insisted on 150 days. It took them another year to fill my position. Inevitably, my successor brings a different perspective and approach to the work. That's just how it is.
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Old 05-17-2013, 07:14 PM   #33
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In my previous position I gave two months notice, which turned out to be too much. I had already more or less wrapped up the two major projects I was working on when I gave notice, so the rest of the time was spent documenting my 7 years of work for my then "boss" -- someone they had hired in over my head without any background or qualifications and whose job I was basically doing on his behalf while he tweaked with spreadsheets. It was good for our bank account to have those extra two months of paychecks to pad the nest egg with, but in hindsight I should have given 2-4 weeks notice max. I knew they wouldn't be hiring anyone to fill my position, so there really wasn't any need to stay on that long except for the extra pay.

My boss, who is at the country director level in our organization, just resigned this week. His last day is Sept. 30. He's encouraging me to apply for his position, which I intend to do. I think part of the reason he has given such long notice is to help facilitate my smooth transition into the position, or, if they find someone with better qualifications, ensure that I am at least moved up to Deputy Country Director. He's a mensch and I'm going to miss him, but I'm excited about the possibilities of this new opportunity. We're more or less FI at this point unless the Beijing property market tanks, so I am not afraid to take on the challenge of a more senior role. If I enjoy/excel at it, I'll do it for several years and our FI position will be even stronger. If I don't enjoy it, we can consider FIREing.

If anybody has suggestions about how to position yourself for success as an inside candidate for a major promotion, I'd love to hear them. I have a strong reputation within our organization and with our funders, and I think I have a very good shot at this, but want to do whatever I can to maximize my chances of success.
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Old 05-17-2013, 07:22 PM   #34
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I gave 9 months (informal) and 7 months (formal) notice as a courtesy to my colleagues so there would be ample time to hire and train my replacement - who was hired 2 weeks before I left. C'est la vie.
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Old 05-17-2013, 08:14 PM   #35
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The first time I gave about 3 months notice. I needed to do that basically so that I wouldn't be assigned to some new ongoing matters that were just starting up. However, I ended up being asked to stay on in a very reduced hours role (1 day of work a week, working on only certain specified type of work).

So...3 years later...I'm still there, now working 2 days a week. I am pondering when to give notice to completely retire. I had thought about doing it at the end of this month, but I could end up doing it earlier if I was called upon to work on anything I didn't really want to work on.

This time there isn't much need for any transition since I've been doing work where I'm not the only person working on anything so there is always one or more other people who already know what is going on. I could probably leave on 1 day's notice without harming any transition. That said, when I give notice I'm sure we'll talk about it and work something out. It will probably be a week or two depending on what my employer wants.
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Old 05-17-2013, 08:52 PM   #36
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I was planning to give 3 months notice, but due to unexpected circumstances I ended up giving 4 1/2 months. I wanted to allow plenty of transition time to train others to take over my various roles. Anything less than 3 months seemed discourteous since I'm the only one who performs certain critical tasks and I didn't want to leave the team up the creek. Besides, I have around 4 weeks of vacation I can use before I leave, so that makes even less transition time.
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Old 05-18-2013, 11:40 AM   #37
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I gave 2 months notice after 26 years and 2 weeks notice after 5 years. The thing is that management will react to whatever crisis is presented to them. Plus if you are there for too long, you will become overripe.
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Old 05-18-2013, 12:18 PM   #38
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Working is like a poker game: if you haven't figured out who the sucker is in the first ten minutes, it is you. You owe them nothing. You are leaving to go out and die, plain and simple. If management has failed to plan for certain disruptions such as unplanned vacancies, T.S.
That's where I am. I asked for some trivial something from my first megacorp and my boss at the time gave me a "the company doesn't owe you anything - we're even at every paycheck" speech. Ok, great lesson because it cuts both ways.

But my plan is not to "give notice" per say, but rather tell them my requirements for continued employment, which is 10 weeks unpaid vacation, in addition to the measly 2 paid weeks they gave me 3 years ago when I hired on (this was despite hard negotiations on my part). They, of course, will say "no", but then they're leaving me as much as I'm leaving them, hehe.
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Old 05-18-2013, 12:46 PM   #39
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I find that over-achievers internally believe they are worth more than they are to the Megacorp. Truth is your departure isn't even a blip on the screen. Once you give notice, whether long or short, they will just move on without you.

For the record, I gave 8 weeks. I was asked to finish up one small project. Whether I do or not is completely up to me.
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Old 05-18-2013, 02:26 PM   #40
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After being in the rat race for almost 30 years now, in a variety of big MegaCorps and small startups, I've become very mercenary about jobs.

My loyalty never extends past the next paycheck. I figure my employer could tap me on the shoulder and let me go on a moment's notice, so I really don't have any loyalty back except for what I'm willing to sell them two weeks at a time.

I've never given more than two weeks notice, and probably never would. In the past, it's always because I've got another job to go to, and my mind's already made up I'm leaving, so why prolong it.

And when I decide to retire, I've already made up my mind about that, too, in the sense I now value my time more important than the money, so why prolong it. I won't retire until I've fully "cashed out" of all my financial positions within the company anyway, so when I do decide to walk out the door, I won't have a vested financial interest in their continue success, nor failure, anyway.

So for me...two weeks. But it's also a very personal decision. A lot of people are going to have a continued financial interest, or personal relationships they want to preserve, or more a sense of loyalty than I do. So I can see where many people would give longer notice. In the end, you have to do what you feel is right for your situation.
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