Author Topic: How much notice to give for FIRE  (Read 3197 times)

Spork

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How much notice to give for FIRE
« on: September 12, 2014, 09:43:12 AM »

Wifey and I have been discussing this, so I thought I'd toss it out here as well.

I'm currently in that "I'll just work a little more" stage... probably a sliver of fear of making the leap... but I expect to make it probably within the next 6-12 months.

I work in a normal corporate environment... and I won't say I particularly have any real love or hate for the corporate guys above me.  But, my actual manager is a pretty good friend.  He's a very honest, stand up guy and he knows I plan to retire "sometime soon" ... but we've never discussed if that is 10 days or 10 years from now.

He's mentioned he would like a little warning... and hinted that it would take a long time to replace me.  Some of that is probably based on the fact we're friends.  Some is that we're a tech company in an area with hardly any tech -- which means pay is relatively low and most people will escape to the nearest big city for 50-100% more pay.

Which brings me to the question:  How much notice to you give in this situation?  I think my manager foresees some 6 month transition to retirement.  But I don't know how management up the chain would see it.  They're an odd lot and relatively difficult to predict.  Sometimes folks with a good reputation have given 2 weeks notice and been walked out the door -- presumably for security concerns.

ginklord

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Re: How much notice to give for FIRE
« Reply #1 on: September 12, 2014, 09:48:51 AM »
You should give at least two weeks, even knowing that it could be your last day. To mitigate that, be ready for it and have your FIRE plan ready to launch on the day you give notice.

That said, there's nothing wrong with giving them six months, so long as you're ready to deal with them letting you go right then and there. If you do though, know that you're giving them a pretty big commitment and be ready to deal with the frustration of working on projects in month four when you could just walk away instead.

Good luck!

sandandsun

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Re: How much notice to give for FIRE
« Reply #2 on: September 12, 2014, 11:18:11 AM »
If your friend is a very good friend- and you trust him to be confidential- you might explain your problem and ask if some 'informal' lead time (when he couldnt share the quit date with higher ups) would help... would probably help if you will cross train anyone on staff, but if the only solution is a replacement, doesnt much matter unless they want you to train that new person before leaving...  They may be less concerned about security knowing you are retiring, not jumping ship to another company?

retired?

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Re: How much notice to give for FIRE
« Reply #3 on: September 12, 2014, 11:31:01 AM »
If it helps, you could suggest to your mgr/friend working as a contractor over the extended period. 

Are you of standard retirement age?  I think larger corps or older sr mgt view the resignation of a younger person (say, <50) as just that, a resignation.  You might want to check how resignations are treated differently than a retirement.  I know that was the case at my previous employer.  If I tried to present a plan to retire (I'm 45), it would have been treated as a resignation and I would have been out <2 weeks, so I simply resigned.

Also may have an impact if your employer offers Retiree Healthcare.

briandougherty

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Re: How much notice to give for FIRE
« Reply #4 on: September 12, 2014, 11:35:01 AM »
That said, there's nothing wrong with giving them six months, so long as you're ready to deal with them letting you go right then and there.

As someone who has dealt with employers disliking that they're losing an employee both within my immediate family and beyond I would say nothing until you'd be happy leaving. After that, think about how much you're willing to give to the employer to help the transition.

Seņora Savings

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Re: How much notice to give for FIRE
« Reply #5 on: September 12, 2014, 11:42:08 AM »
I would recommend either giving two weeks notice or giving "I can work (pick a number) months or until you've hired a replacement" notice.  You may loose a friend in the first case, you may work longer than you'd like in the second.  I think that if you give them flexibility they're treat you well while you're there.  My cousin did the later with her employer.

Given how you've described the job, I wouldn't give anyone a date until you're ready to be out the door.