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I told my boss “when come for names, put money on the list”. He was confused when I said it. And I didn’t clarify. But then they called him for a list. And he understood.
Yes, working through it as we speak. PE wants another direction and founder is stuck in another direction. I’m stuck in the middle. Mapping an exit package, citing diplomatic reasons ofcourse
Absolutely. I negotiated an exit and it was amicable and on excellent terms. It was generally along the lines of “we want you to do X, Y and Z” but I only wanted to do X. We established there would be no agreement on Y and Z. Given that, how can I possibly meet expectations ? I may as well leave. Yes ok, leave on these terms. 10 months payout with healthcare benefits. See ya. Sayonara.
What’s next has already started.
I’m giving back in a few areas, one for a local (to me) non-profit NGO in a tech advisory role. This is very light, maybe 2 days a month.
In another, I volunteer my time to drive elderly people to/from the store/dr appointments etc. as they may be unable to for mobility reasons, infirmity or commonly blindness. Time commitment varies. Each commitment is 2-3 hours 2-3 times a week.
I’m project managing a 1 year rehab/repair project for my HOA as a current board member.
This is a significant commitment, probably 15-20 hours a week. It’ll end in September/October, maybe tail into November.
On the fun side, I’m racing sailboats on the lake where I live and generally enjoying my time with family and friends!
I am permitted to take up employment during my payout, but have made the choice not to for two reasons; 1) if I do, I have to tell the firm and all future payout due would be paid immediately and I’d lose my health benefits (no big deal if the new paid gig includes benefits); 2) I really don’t want to consider (re)employment at the moment. I might IF something transactional drops in my lap, but very doubtful. I’m comfortable in my financial situation, maintaining the same level of lifestyle my wife and I were enjoying prior to retiring, so there’s no need to. Both our children are working and getting on with their lives, so I have no dependents.
I have friends in my community who have retired (they are a few years older), and have since gone back to some kind of employment. I don’t know if it’s financial, health benefits or a self-worth thing, but they’re not actively involved in much else. They all grumble about working and I just don’t want to be in that situation. My day is packed with things that I want to do. So far it’s working for me!
Long answer to a short question :)
F
How does a proactive exit differ from resigning?
Mentor
One involves severance, the other does not.
Everyone is always trying to get a little extra boost as part of resigning - which can be viable in down times where the firm is trying to exit people at all levels anyway - you just signal through your internal network that you’d be willing, and you and occupy one of the slots they’ve counted for forced attrition.
The downside for firms is that this usually results in high performers self selecting out. So firms don’t always go for it.
I have seen some folks agreeing to early retirement next year when they are at least 2-4 years away from retirement age. Kpmg retirement age for partners is 60
That was part of a program though. Trying to negotiate severance for a self selected early retirement is tricky. You don’t have much leverage.