20 Months to go - When do I tell my employer?

[rprun54]

I wouldn't give them any. I worked construction and needed to work a certain number of hours. I Gave my notice and boss reduced my hours. It took me twice as long to get my hours.


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[tps7742]

In today's business world I would think two weeks would be sufficient. Take care of yourself before the employer in most cases. I am sure on rare occasions there is an employer that deserves the respect but in most we are just a number.

 

[Johnora]

Hello,

I am 50, my husband is 58. He retired from federal service last year. The children are all educated without student loans, we have one child left at home, and no debt. I plan to retire January of 2018, after the youngest ages off my health insurance. I will have health insurance in retirement through my husband.

We have done the expense tracking, and are confident we can maintain our current standard of living after I retire.

What I am not sure of is when I should let my employer know I am planning to retire.

I think that part of this decision depends on your employer relationship. I work in an administrative position and work on succession planning a lot so we work on knowing who is eligible to retire within the next five years on a constant basis. They know I am close and I have told them that as well, but I will not get into specific dates until I know it myself and I am comfortable with it. I trust my employer, but I think letting them know of your future intent takes care of most of the issue, while letting them know an exact timeframe should not be an issue as long as they have done their due diligence as well.

Saying everyone is replaceable should never be used as a negative saying. It is just true. The awkward part is when they start working on your replacement while you are still there, like you are not also standing in the room. I chosse that time to get another cup of java....

 

[robertf57]

I was required by contract to give 90 days. Gave a little bit more.


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[FireFool]

+1

Very wise advice. A year out, I had planned on giving 2 weeks notice, although I ended up giving even less. I had all my personal effects out before handing in official notice. So I spent my last days de-junking my office and saying long goodbyes to the folks I liked. I struggled unsuccessfully to contain my glee as I politely attended the last of those boring meetings.

I was pleasantly surprised by a goodbye lunch, not an immediate escort out the door, but you never know. Remember that this time you are in the driver's seat, so you can put your own interests first, for once...

I'm less than 30 days out from my ER date. I plan on giving ONE week notice the day after I'm given a small dollar 30 year anniversary award - it was only about a week longer to stay for that after a more substantial stock vesting that will occur 5/1. If giving them longer notice had any type of financial incentive for me I'd consider it, but there isn't one. The way I figure giving longer notice could only lead to: a whole lot more work/documentation dumped on me; or meaningless remaining days where my decision making power is discounted; or being asked to leave a bit earlier than I would want and missing out on that anniversary award; or giving up a week(s) I could have been retired earlier if I still wait for my key dates but give a longer notice from that date. In the end there's nothing to be gained by giving a longer notice - although some may feel 2 weeks notice is more the norm (why people feel that one-sided corporate loyalty is beyond me). The one courtesy I am doing is I've been de-junking too, so someone won't have to wade through a bunch of useless to anyone else paper files after I leave. If they truly want/need me to stay longer for a transition period they'll have to offer me very rich consultant level rates for me to even consider it.

Edit: If anyone asks why my notice is so short I have no qualms asking them if it's important why there aren't economic incentives for the employee then.

 

[Markola]

Edit: If anyone asks why my notice is so short I have no qualms asking them if it's important why there aren't economic incentives for the employee then.

Seriously. +1. If the employer wants to be At-Will, fails to give me a contract, incentive pay or any job protection whatsoever, it's their problem if I leave the moment I'm ready.

 

[Calico]

OP,

First, I recommend checking your employee handbook for policies about the relationship between giving notice, and the effect on any accrued benefits due you. I discovered that in order to be paid for any unused leave time, I am required to give two weeks' notice. Before reading the fine print, I wasn't aware of that policy.

Second, make sure you are not losing out on any vesting or bonuses by giving too much notice.

Third (in my case) when I give my two weeks' notice in a few years, I will plan it so that my last day in the office is the 2nd or 3rd day of the month, because my employer pays for health insurance coverage through the last day of the month in that case. You say you will have coverage through your spouse, so that may not be relevant in your case.

Fourth, do what is right for YOU. Most employers today would not think twice about letting an employee go at a moment's notice, and you don't owe your employer anything more than what is contractually required.

Many years ago I would have felt differently, and would have felt I "owed" my employer "loyalty" - but the changes in my workplace over the years have cured me of that illusion. Now, I play my cards close to my vest, and don't tell them any more than I am required to about my plans. I give a fair day's work for a day's pay, but it's just a business arrangement.

Recently both my immediate supervisor and his supervisor have been "fishing" in conversations with me, asking leading questions, trying to find out whether or not I plan to be employed in "x" number of years. They apparently know better (perhaps given my age) than to come right out and ask me "when do you plan to retire?" but they are walking right up to the line, that's for sure. I just laugh and tell them I love my job (which hasn't been true for years) and haven't even thought about retiring. The fact is I picked out my exact date of retirement a couple of years ago - and they will find out exactly 2 weeks prior to that date in the future.

One final piece of advice - I would not share your exact retirement timeframe with any "friends" at work, even if you are tempted to - you would be surprised how that information has a way of "traveling" to the powers-that-be, for whatever reason.

 

[ugeauxgirl]

Short answer? Say nothing until you are ready for them to respond with: "In that case, why don't you pack up today?"

Many threads here about folks who gave longer and found the time wasted by their employers (not hiring replacements until the final weeks/days) or getting frozen out/lame ducked months before their date. Also many things could change between then and now.

+3 I am not planning on giving notice till they could show me out the door and it would be okay with me, as I work in an industry that is known for that sort of thing. I plan to offer my employer (who has been fairly good to me) up to 3 months to hire someone new, but I will be perfectly fine if they don't take me up on it, as I don't think I will be staying long enough to take them up on the retirement transition package. I will be "too young" when I have enough money, and I don't think I will be willing to wait till I'm old enough to do it their way.

 

[SomedaySoon]

Well I was going to give my two weeks notice that fateful morning, but I got RIF'd instead.....


Time to change my username.....


Give notice when your ready to leave. If they want to incentivize you to stay for some period of time more, then let them show you how much you are needed. You don't have to show them how loyal an employee you were.....

 

[ugeauxgirl]

What does "RIF'd" mean?

 

[REWahoo]

Reduction In Force, AKA laid off, made redundant...

 

[Fedup]

Some industry, the minute you give a notice, they walk you out immediately. They don't even let you clean your desk. You come back the following day to pick up your stuff. This has not happened to me, but I think you should know your industry.


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[FireFool]

Well I was going to give my two weeks notice that fateful morning, but I got RIF'd instead.....
.

Congratulations - nothing wrong with adding on to the nest egg with some unemployment - probably worth going through the motions of pretending to be seeking a replacement position to qualify for the dollars.

 

[ziggy29]

Well I was going to give my two weeks notice that fateful morning, but I got RIF'd instead.....

Which is even better if you get severance and unemployment, as opposed to voluntary termination where there is none.

For most jobs two weeks notice is sufficient and customary. If there are specific situations where you have a specialized, hard-to-fill position -- or one that takes a long time to train sufficiently -- and you have a good relationship with your employer, you may want to give them more time in order to hire your replacement, and perhaps to give you time to train them before you ride off into the sunset. But I'd only do that if my employer and my bosses had earned that kind of consideration.

 

[ziggy29]

Some industry, the minute you give a notice, they walk you out immediately. They don't even let you clean your desk. You come back the following day to pick up your stuff. This has not happened to me, but I think you should know your industry.

I wonder, when this happens, are you eligible for unemployment? If you said you intended to resign (say) two weeks from now and they walk you out, were you involuntarily terminated? (I suppose they may be able to get out of this if they send you out with two weeks' pay -- essentially treating it as two weeks notice to a voluntary termination with two weeks of paid leave at the end -- but I don't know.)

 

[cathy63]

I wonder, when this happens, are you eligible for unemployment? If you said you intended to resign (say) two weeks from now and they walk you out, were you involuntarily terminated? (I suppose they may be able to get out of this if they send you out with two weeks' pay -- essentially treating it as two weeks notice to a voluntary termination with two weeks of paid leave at the end -- but I don't know.)

Unemployment varies by state, but generally, if you give notice and your employer decides to terminate without paying you for the notice period, you are eligible for unemployment compensation for the period during which you were willing to work. In California, there's a one week waiting period from the day you file, so the most you could collect in your scenario would be one week's unemployment compensation, which maxes out at $450 (assuming you earn more than $900/wk).

 

[2017ish]

This question is like a Rorschach blot, the answers depend on our individual circumstances - there is no right answer that applies to everyone. It will be worth your while to skim the threads Rewahoo listed. After reflection you will decide what is right for you.

+1

(DW and I have both given soft 2 years notice; her contract requires 180 formal notice; she has been actively involved in interviewing potential replacements. BUT, we are in unusual positions both in professions and practice group/firm.)

 

[Fedup]

I wonder, when this happens, are you eligible for unemployment? If you said you intended to resign (say) two weeks from now and they walk you out, were you involuntarily terminated? (I suppose they may be able to get out of this if they send you out with two weeks' pay -- essentially treating it as two weeks notice to a voluntary termination with two weeks of paid leave at the end -- but I don't know.)

Not sure, but I think you have to wait a few weeks to get unemployment. But in this case that person just showed up to work at his/her new job sooner.


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[Dan4495]

If I were crossing the street tomorrow and got hit by a beer truck, would they be able to cope with my loss

How tragic that would be. A braumeister hit by a beer truck. That's like the dog biting the hand that feeds it.

 

[Milton]

Funny thing was they didn't want a download of any skills and knowledge.

Have you seen About Schmidt?