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Old 02-08-2021, 02:31 PM   #41
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You should do whatever is right for you - giving a long notice like 6 months is a good idea if you’re comfortable with it. I have always been upfront with my employers and never had an issue giving a long notice.
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Old 02-08-2021, 02:52 PM   #42
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Originally Posted by Aerides View Post
You'll be excluded from projects, meetings, left off email threads, because...well you won't be there much longer.
Sounds like heaven compared to the madness and never-ending email threads that test the limits of my BS meter and blood pressure.

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There is a flip side to that. In my case, I found that to be very unique, even entertaining and relaxing, as in the sense of "all these bombs dropping all around us" and I knew that I was totally immune because I wasn't going to have to deal with it.
+1 I can't wait to get to this point.
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Old 02-08-2021, 03:05 PM   #43
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I was managing 12 projects with a value of >$10M. When I gave notice of intent to leave, they took two of my projects away almost at once. My voice as a senior manager no longer seemed to matter. They wanted to have endless meetings to transition each project. This was not fun. If I had it to do over again, I'd just give 2 to 4 weeks. In my company, you have to be billable (bill your time to the client). This gets harder as they transfer your projects.

My two cents is to give the minimum notice.
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Old 02-08-2021, 05:19 PM   #44
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...In my company, you have to be billable (bill your time to the client). ...
So if you're not sufficiently billable because they transitioned projects prematurely, what are they gonna do... fire you? What's the downside?

We were also expected to maintain a certain level of chargability but by the time they figured it out and decided to act on it I would have been gone.
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Old 02-08-2021, 05:27 PM   #45
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It often strikes me:

If you were giving notice to go to a competitor, you'd have to pack up that day.

If it were to go to another non-compete company, 30 days would be the most they would want to wait, 45 at a stretch for higher level roles. 6 months? no one is gonna wait for you unless it's a really unique c-suite role.

But retirement for some reason leaves many of us thinking we're out of line if we don't give more time...
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Old 02-08-2021, 08:30 PM   #46
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Every situation is different. In my case I gave 3 months notice, and they asked me to stay on part time another 4 months, which I gladly did.

But, here are the circumstances:

I planned to retire end of August 2015. Made this decision in January. Everything was in order.

My boss was someone I had hired years before, and we respected each other.

Years before that I was on the interview panel for his boss. She and I had some issues early on, but during the time I worked for her I was treated more than fairly, and very respectfully.

The year before the new MC (we had been bought and sold several times) eliminated our generous bonus plan, and implemented a fairly modest one. So, no waiting for the bonus to hit before retiring. In fairness, they gave a very generous bump in salary to compensate (something like 75% of the average bonus for the previous 3 years)

I gave notice when a new project was being signed, and was asked to take it on. Not fair to anyone for me to pretend to be excited for a few months.

At my request I went part time immediately (at a reduced rate but full benefits), and my only responsibility was was to wrap up loose ends. I was able to work remotely, and took a 7 week trip to the Gulf coast.

Everyone was happy. No ill feelings. No being ostracized. On the contrary, my ideas were sought out, and some were acted on (like my internal replacement)

It was a very fulfilling and satisfying end to a 28 year tenure.
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Old 02-08-2021, 08:48 PM   #47
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I am only required to give 30 days' advance notice of retirement, but I have been with my employer for a long time, I have generally been treated very well, and the employer would certainly benefit from having more notice. So I am thinking that I would give about 6 months' notice. I have no concern they would terminate me when I give the notice (they would never do that, and on the one-in-a-million chance that I'm wrong about that, I would not care). Other than that, what might I not be thinking of? Are there reasons why I should not give, say,, 6 months' notice? I can't think of any, but maybe there's something I'm not thinking of?
I was a named executive, assigned to a foreign country, where we had few English speakers (and I speak the local language). I gave four years notice, because I knew how difficult it would be to replace me, and the damage it would do to the business should I just up and leave with only 30 days notice. Once we found a suitable replacement and had him in training for a good while (years), we formalized the agreement for me to leave. However, only a few persons could be told, and they had to agree to confidentiality, because the announcement of a named executive’s departure is required to be made by press release so that no insider trading is possible. So, my executive assistant was aware, my replacement was aware, and my CFO was aware. My wife knew, but was not allowed to tell her friends we would be returning home until the announcement was made. I made the announcement to the remaining key people in my organization at the same time the press release was issued.

So, I think that the decision on when to tell your bosses that you are on your way out really depends on your role in the organization, how important that role is to the continued success of the business, and whether or not regulatory agencies have rules concerning major announcements, not to mention whether the continued success of the business has any bearing on future payouts or stock awards or options. Best of luck with your decision.
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Old 02-09-2021, 02:30 AM   #48
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I have been openly talking about retirement for years. This is not unusual at my company. Because of a generous and successful ESOP, virtually everyone with 25 or more years of service is well positioned to retire. Many of my co-workers retired between 50 and 55. Heck, I can tell you the expected retirement date of more than half of my current reports.

When the time came, I gave my boss three months official notice - she was fully expecting it. I was never worried about repercussions or surprises. My company celebrates every retirement and many employees publicly announce their plans up to a year in advance.

It's not a bad environment at all!
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Old 02-09-2021, 04:59 AM   #49
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As a physician, I saw contracts which required 3 months notice and 6 months notice. It takes a long time to get a physician credentialed with hospital privileges, licensing, contracts with insurers, and the like.

I gave 6 months notice when I moved to PA. I gave 3 months notice when I first tried retirement. A week before that date, my medical director asked me to stay on at another hospital as they had an emergency shortage in their schedule. 5 years later, with the ACA more secure, I gave 8 months notice, to give plenty of time for a replacement to be found. The director never bothered to look for a replacement. I wish I had given much less notice.

I once thought it was good to give more notice. But your employer holds all the cards. They can fire you tomorrow, regardless of your contract. Just give 30 days notice as required. If they let you go sooner, it won’t be a big deal.
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Old 02-09-2021, 07:55 AM   #50
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My vote is to give the shortest notice you can that allows for an orderly transition. Anything longer is an advantage to your employer, but could possibly work against you. There are two reasons that I can think of where giving extra notice could work against you:
  • The aforementioned bonus payment. This was a factor for me as my mega-corp's annual review period ends in December, but our ratings always take longer to be communicated, and our performance ratings determine our share of the annual profit sharing.
  • Other factors beyond your control. For example, a global pandemic! I was contemplating retirement last year, and if I had given my boss 6 months notice, I might've missed out on a fairly easy year of working from home.
I work for a company with nearly 100k employees, and I'm not an executive. I gave my boss 3 months notice, but I had 4 weeks of vacation time to use up. He didn't accomplish much in the way of hiring my replacement until the second month, so in my case, it didn't make any difference.

Our retirement process suggests giving 90 days notice, but the SPD makes it clear that 1 day is all that is required. However, I recently learned that there is a "soft" date that I think they should communicate better. To receive your first pension check on time, you must complete the retirement workflow, sign, and return your documents by the 8th of the month preceding your retirement date. The number of employees who are eligible for a pension declines every year. I think there might be less than 5k of us now.
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Old 02-09-2021, 10:40 AM   #51
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I posted a very similar thread a few months back and got much of the same advice. I, too, felt some kind of obligation to give a longer notice. But many pointed out that my company would not give me the same courtesy. In fact, early in my management career, I was part of a RIF and personally had two employees walked out the day of the RIF. They got 30 minutes under watch of security to pack one box with personal items then the walk of shame. That absolutely sucked. Could it happen to me? - sure.

I have given the advice a lot of thought, talked to people I respect, and this is what I am going to do (in about 15 weeks...): in order to get pension and insurance lined up, the company needs 2 month notice. By the time I retire, I will have about 9 weeks of leave saved. I plan to put my notice in so I work for two weeks and use the leave for the remainder of the time. This will be about a 2 1/2 month notice. I will offer to come back, as needed, to help. This makes it so that I can do it on MY TERMS. If my boss wants me to do some BS task, I will not come in - I will be under no obligation. Like some PPs, I also need to be able to direct charge. No direct charge, no pay. I don't want to end up in that position - hence the saved up leave.
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Old 02-09-2021, 11:23 AM   #52
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My vote is to give the shortest notice you can that allows for an orderly transition. Anything longer is an advantage to your employer, but could possibly work against you.
I am of this view. There have been other threads on this topic which contain plenty of examples of folks who learned to their surprise and regret that giving early notice was a big mistake.
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Old 02-09-2021, 01:38 PM   #53
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If you give the 30 days and they want more, they can ask or negotiate. This is the preferred position. Keep some cards in your hand.
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Old 02-09-2021, 01:50 PM   #54
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So if you're not sufficiently billable because they transitioned projects prematurely, what are they gonna do... fire you? What's the downside?
Ha, yes, they can fire me....but my target RE date was based on filling up the 401(k) bucket one more time....which will (indirectly) pay for a bathroom remodel. Since you have to have management approval to charge overhead, it adds a level of stress I don't need. At 18 work days remaining to ER, I awoke at 3AM today, and started planning out today's work in my head. I really am looking forward to ER! I'm a bit worried that I'll continue to have work dreams...many of my current dreams have job situations that I left decades ago, and even some school things that are 30+ years ago!
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Old 02-09-2021, 01:56 PM   #55
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many of my current dreams...some school things that are 30+ years ago!
Still can't remember that locker combination, eh?
Did you ever attend the classes of the course that you are sitting a final exam for?
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Old 02-09-2021, 02:04 PM   #56
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Still can't remember that locker combination, eh?
Ha ha! Yes, I remember in high school, returning from Spring break or Christmas break, and having forgotten the combo!
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Old 02-09-2021, 02:04 PM   #57
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I’m planning to give my two weeks notice next Monday Feb 15. Last day for my plan is March 1 (benefit for me so that I can get an extra month of benefits on the company’s nickel). I wanted to give more notice but after reading advice on this board and from close friends, I decided that too much notice would give the company the power as they can fire at will. Although I want the best for my colleagues and the company, the company has it’s own agenda. I realized one of the reasons I wanted to announce early was because of my ego: I would be the first to ER from Megacorp in a long time. Even typing that feels like unnecessary bragging. I decided that industry two weeks notice was sufficient.

I visited with HR asking a series of “what-ifs” around retirement looking at four years in the future to throw them off the scent of an immediate departure. I’m really glad that I did because I was mistaken by one big thing. HR’s belief is that if a person give two weeks notice on Feb 15 and then plans to take vacation during that time (be it for the solid two weeks or the final three days), then payroll cuts off when that vacation commence and you just get paid the vacation time - so my plan to use PTO the final two weeks wouldn’t have worked. They want us in that chair until the final bell rings.
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Old 02-09-2021, 02:17 PM   #58
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I have April 30 lightly penciled in as a retirement date. So far, I have only discussed that date with my wife. I plan to provide no more than 2 - 4 weeks notice. That amount of time is plenty to transition my current workload to someone else. Financially, I could leave today and be fine, but I figure I should just leave my options open for as long as possible. Who knows, maybe my company will offer an early retirement incentive? I doubt it, but I've seen other people get that lucky.

In my case, though, it's not a "retirement" per se. I'm just resigning and not planning to look for another job. I won't get anything from my employer other than a "nice knowing you and good luck".
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Old 02-09-2021, 02:23 PM   #59
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Ha, yes, they can fire me....but my target RE date was based on filling up the 401(k) bucket one more time....which will (indirectly) pay for a bathroom remodel. Since you have to have management approval to charge overhead, it adds a level of stress I don't need. At 18 work days remaining to ER, I awoke at 3AM today, and started planning out today's work in my head. I really am looking forward to ER! I'm a bit worried that I'll continue to have work dreams...many of my current dreams have job situations that I left decades ago, and even some school things that are 30+ years ago!
Sorry I forgot you were not yet retired. Try to savor these last few days until the "big day." I wouldn't worry too much about the "dreams" unless you have them regularly now. I still have one once in a while, but I probably have more scary dreams about university than from Megacorp. Be sure to remind us when the big day comes so we can throw you a virtual party (at least some confetti!)
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Old 02-09-2021, 02:25 PM   #60
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Wow! In my little w*rking world, I've never seen anything more than 2-4 weeks notice from either way, employee or employer. I do get the impression that the VP's and C-suite give a few months notice, but it's only announced to the peons about 2 weeks before they bounce.

My department and function had been in decline for a decade, so no love lost on either side when I walk away with very short notice. Many folks tried to get packaged out, but they would always keep some people on to do the dirty w*rk traveling overseas. I preferred to take destiny into my own hands to move on to the rest of my life.
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