Timing of retirement discussion with boss

[ModestNestEgg]

Quote:

Originally Posted by CardsFan First and foremost, I would not have any discussion about retiring until the stock vesting occurs. As said above, you could get walked out the door the day you announce and lose out on the stock. I would probably do as Aerides suggests, and put in another quarter. Or maybe announce end of November for an end of year departure. If the stock vesting was not in play, I would probably tell my boss soon to see if he wants to replace you on the trip. Or, maybe, have you take your replacement with you for a meet and greet. But I would only do this if I was prepared to be walked out the door that day.

You're right, but I always think that seems very petty on an employer's part, especially in reference to the bolded part. This is especially when it's due to a retirement and not someone being walked out because they did something awful, and they treat it as some kind of morbid betrayal. Huh?

It always seems petty when the same ones who would lay someone off at the drop of a hat but then gaslight an employee who was upset by that with a pat on the head and a "it's just business" dismissal.

Okay, rant over.

[breger1]

Only Give 2 to 4 weeks notice. There will always be more commitments and it will never be the right time. My BIL put in several extra years becuase there was always one last project to finish. Remember they will not hesitate to send you out the door if they need to cut costs.

[big-papa]

Every situation is different. The guy I'm currently reporting to just became part of our organization earlier this year. I've known and trusted him for years, however. During my first meeting with him in his new role he asked me what my timeline might be, which wasn't a surprise since we both had been having retirement discussions in the previous year before he took on the role in our organization.

I was honest with him and told him it was at most a year, preferably closer to 6 months. It was a good discussion and I offered to stay as long as needed (within reason) to help find my replacement and get the individual trained. Both he and the executive he reports to agreed with my proposal. The majority of my team is in Europe, so I will have at least one more trip there with my replacement as part of the handover. Pre-Covid, my trips there were once per quarter but I haven't done that trip since December 2019. So maybe more trips depending on how long it takes to find my replacement, which is proving to be a difficult task. As Liam Neeson said in the movie "Taken", "...what I do have are a very particular set of skills, skills I have acquired over a very long career..."

For 2022, all RSU's for this year vested and have been sold. Corporate bonus has paid out. 401K and HSA contributions were front loaded. So for now, it's just a paycheck and quarterly ESPP and an indefinite end date. That's actually OK by me with inflation being what it is and a good likelihood of recession around the corner and each month I'm here means I don't need to make an expensive Cobra payment.

While I don't have immediate, pre-planned scheduled activities coming up post-retirement, I don't want this to go on for too long. Regardless, so far this has been a win-win for everybody. And this definitely wouldn't have worked had I been reporting to somebody else instead.

Cheers,
Big-Papa

[pb4uski]

Quote:

Originally Posted by rayvt This actually happened to a co-worker of mine. Worse. While he was in Europe on a company trip, they laid off his entire group. Including him. He had put the airfare on his personal credit card expecting to get reimbursed when he got back and turned in his expense report. They NEVER reimbursed him.

Bush league. Why didn't he sue them? I would have.

[Aerides]

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Originally Posted by Unpaintedhuffhines Walking people out the door isn’t really a thing here unless you do something really bad (HR things, stealing from the company) or you go to a competitor. Then it is adios in a manner of minutes. In fact, as a manager, I would have a real hard time if I did that with an employee who didn’t hit any of those triggers.

My Mega was the same, and while being walked out is a low possibility, it's the other stuff:

Trip yanked, but you stay till the end date with your responsibilities slowly stripped. You get replaced on invites because your boss starts saying "get so-and-so" instead. You hear about important decisions getting made when you used to be at that table. People look past you instead of saying hello. Dead man walking, but no one really tells you.

Your end date gets moved up, before your vest, just a few days, just enough to sting.

You might not get walked out the door, but the slow, painful, dignity diminishing things companies can do might wish you were.

[GoodLife59]

I say talk to your boss now. If you do the big trip then leave your legacy will be the a-hole who took the big trip and left us high and dry. I would think if you express your commitment to help keep critical initiatives moving forward during your final months it will be greatly appreciated. Maybe your boss will send you on the trip anyway. But don’t burn bridges.

[Alex The Great]

Going to the business trip is OK, as long as you have your own hotel room. Now days, corps are asking to share the room with one or two co-workers, to reduce the cost. I resigned from my previous employer due to this reason among others.

[ERhoosier]

Late to the thread, but.....Many employers have an actual corporate (or individual employee contract) policy on giving notice, and a few even have specific rules for certain grades (directors, VPs, etc.). I would follow those rules/guidelines/contracts closely, including providing timely written notice when required. Vesting rules often include some clause about being/remaining in 'good standing' (or something similar), and violating notice policies could potentially affect that.
I retired twice. My advice is to remember this is BUSINESS. Giving notice early WILL make you a 'lame duck', possibly even persona-non-grata, as soon as you give even informal notice. Regardless of how positive a relationship you believe you have with your boss, offense may be taken by that boss or others along the chain of command no matter how you handle things. Adhering strictly to written corporate policies is taking the 'high road', at least 'officially'. Giving notice significantly earlier is a two-edged sword. Good luck whatever you decide!

[LastOfTheBoomers]

Go on the trip. As long as you don’t plan on working or getting a reference from your company - do it.
After you get back from the trip - sit down with your boss - and have a heart to heart saying “I like where the company is going - but after talking to everyone on the trip - I don’t think I can be part of the journey - it’s time for me to leave - I’m thinking of October XX as my last day”

[Al18]

You should give notice based on what’s typical for your office. I gave 4 months notice, and for the last 3 months worked 1/2 time for 1/2 pay. Collected a nice last final check with nearly 4 weeks of unused vacation.

[travelover]

Quote:

Originally Posted by GoodLife59 I say talk to your boss now. If you do the big trip then leave your legacy will be the a-hole who took the big trip and left us high and dry. I would think if you express your commitment to help keep critical initiatives moving forward during your final months it will be greatly appreciated. Maybe your boss will send you on the trip anyway. But don’t burn bridges.

Legacy? Unless you are Jack (the Klepto) Welsh, you are not going to have a legacy except with a very few people that might remember you for a couple of years. I'm fully in the wait until stock is vested, check clears, then bye, bye. Right now Mega is your world, once you retire, it is like last week's newspaper.

[Unpaintedhuffhines]

Well, quick update: I went on one of the two trips (Europe, not Asia). On the last day of our conference , I resigned. Boss was actually very cordial, wished me the best, etc. We agreed on 2 weeks notice, so my final countdown has started! No mention of the trip expenses, but I do not expect any issues at all.

Told my team this afternoon. They will miss me but they’ll get over it.

Kind of stunned that this is happening. I made the right choice.

[TripleLindy]

Congrats! I had my conversation with my boss about this time of year 5 years ago. He asked me to stay on for about 6 more weeks, which I did, but on the condition of no travel. It was odd. I’d attend meetings remotely but everyone knew I was leaving, so there was no need for input from me. I mostly played golf the last 4 weeks. And I was able to get my equity out of the company from our private equity partner. My successor wasn’t as fortunate, as he left about a year later and still hasn’t seen his equity.

[caninelover]

Quote:

Originally Posted by TripleLindy Congrats! I had my conversation with my boss about this time of year 5 years ago. He asked me to stay on for about 6 more weeks, which I did, but on the condition of no travel. It was odd. I’d attend meetings remotely but everyone knew I was leaving, so there was no need for input from me. I mostly played golf the last 4 weeks. And I was able to get my equity out of the company from our private equity partner. My successor wasn’t as fortunate, as he left about a year later and still hasn’t seen his equity.

I had my conversation with my boss the Friday before labor day, and targeted year end to leave to allow them time to hire a replacement. They found someone and my boss asked me to stay a bit longer through January to help train the new person.

It felt right to me to give advance notice. My boss and I had a great relationship so I wasn't worried about retaliation and I was right. My boss was grateful as well, so I left in a high note.

Every situation is different. Glad OP took the trip and will be done soon.

[big-papa]

Quote:

Originally Posted by caninelover I had my conversation with my boss the Friday before labor day, and targeted year end to leave to allow them time to hire a replacement. They found someone and my boss asked me to stay a bit longer through January to help train the new person. It felt right to me to give advance notice. My boss and I had a great relationship so I wasn't worried about retaliation and I was right. My boss was grateful as well, so I left in a high note. Every situation is different. Glad OP took the trip and will be done soon.

Indeed - your experience is also similar to the one I described upthread as what's happening to me. No replacement yet, but down to two candidates. Should know soon. I'll be here at least through EOY, but I'm starting to discuss going into Q1 since that's when corp bonus pays out and I have some RSU's in Q1 vesting. Would be a shame to be that close and miss out - especially in a down market.