Retirement planning – ‘The Big Day’

For most people in the public and private sectors, there is that day when they ‘officially’ leave their workplace for the last time as employees or business executives/owners. Depending on the status or level at which we honourably leave, we all tend to get some ‘send-off’ from the organisation and/or colleagues and friends on that […]

For most people in the public and private sectors, there is that day when they ‘officially’ leave their workplace for the last time as employees or business executives/owners. Depending on the status or level at which we honourably leave, we all tend to get some ‘send-off’ from the organisation and/or colleagues and friends on that day or thereabout. That is what we call ‘the Big Day’ and it should be a day of pride, reminiscence about a glorious past and hope for an even better future. 

There are a few things to do right before and on your ‘Big Day’ such as: 

Handover fully and properly: Unfortunately, many people tend to measure how ‘valuable’ or ‘important’ they are/were at work by the extent to which their teams and organisations suffer in their absence when they go on leave or finally retire. In reality, however, our personal and professional success as leaders is significantly demonstrated by the extent to which we are able to develop our people to operate well even without us. Anything short of that may smack of personal insecurity, incompetence, and perhaps dishonesty, and should be disappointing and shameful! 

Depending on your scope of responsibility, the formal and informal process of successfully and professionally disengaging should start years, months or at least weeks before you finally leave. First, it is either a successor is appointed, or potential successors under consideration are nominated, by the organisation. Otherwise, you should engage the most senior person in your team as the natural replacement pending any final decisions by your organisation before or after your departure. Second, this is a time when you must give your best in providing all technical and nuanced details about ongoing transactions and projects to the people you are handing over to. During this period, you can encourage your most senior team members, particularly the person you are handing over to, to make decisions you probably would have taken yourself with as much free hands as is practical and wise, without abdicating responsibility in any way. Your people should be involved in meetings with third parties within and outside your organisation in ways that the transition and eventual handover will be seamless and complete. 

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Provide all details to your superior(s) that they may require in knowledgeably supervising the person(s) taking over from you. Similarly, subject yourself to offboarding discussions with the Human Resources Department (‘HRD’) that may help the organisation. A final aspect of a proper handover is to make sure that you return all assets and documents in your possession to the HRD. These may include identifications, passes, motor vehicle(s), retirement of any outstanding cash advances, etc. These should all be documented and duly acknowledged. Similarly, follow up to ensure that you are removed from all official communications from the close of business on the day you leave except for your private email and phone as may be required. 

You may not be emotionally ready! The time you have spent on your career and with your colleagues working, travelling together and lodging in the same hotels away from home builds strong emotional ties in ways you never noticed and perhaps took for granted. On your Big Day, these colleagues along with family and friends will come together to ‘send you forth’.  Those emotions would likely come all rushing and you will have an unmistakable feeling about your attachment to the career that gave you structure, identity, and financial benefits and the colleagues that helped keep your social senses alive. You may cry and those that were particularly close to you may have misty eyes. I think this is one of those times it is OK to let the emotions flow with little hindrance.   

You would also come face-to-face with the reality that you are leaving people and jobs you have spent most of your adult lives so far with and at. For many, it may also mean certain uncertainties about the future away from the protections, privileges, and used-to routines of work and business. Even for the most prepared, some apprehensions and fears might set in that day. Within these states of the varied emotions, you should remind yourself that you have come this far in life and you can go farther and well particularly if you have thought ahead, planned diligently and acted wisely.  You may not have even done everything right and well, but there is a minimum of confidence that is necessary and required for the success ahead. 

Be ready to make a speech and give gifts out too!  Your bosses and other colleagues would have the opportunity to say a word or two about you. Hopefully, you have worked well with most people and what they would say is genuine and sincere. Some, however, might just want to be politically correct and are probably happy to see the back of you. Enjoy everything, but be real! You would also have the opportunity to say a word or two. While it is original to talk from the heart, it is wise to think through what you want to say ahead of the gathering. Be cheerful, nice and generous without being insincerely flattering. Encourage those yet to leave to continue to put in their best and be credible in everything they do. You are likely to be given gifts, cards, etc. I think it would be nice if you also give out a gift to the organization, such as books to the library on Leadership, Marketing, Artificial Intelligence, or whatever, depending on what the organisation does. There would also be a lot of photo and video sessions. Make arrangements to get your copies in both soft and print versions as may be possible. 

Different organisations have different handover periods, processes and requirements. Having spent all the time you have with the organisation, you must meet all expectations and part on a good,  pleasant and memorable note. Next week, we will take up ‘the Day After’.