YOUR QUESTIONS ANSWERED

I’M THINKING OF RETIRING NEXT YEAR. HOW MUCH NOTICE DO I NEED TO GIVE MY EMPLOYER?

EXPERIENCED DARREN BUCHANAN MANAGING DIRECTOR, HAYS QUEENSLAND

The notice period you are required to provide to your employer should be set out in your employment contract. If you are unsure, talk to your HR team. Some people give their employer more notice than is legally required, particularly if they have been with the organisation for some time and want to train their replacement or ensure a smooth transition. Organisations can offer flexible working options that allow you to transition to retirement at your own pace, such as gradually reducing the number of hours worked. Good luck and all the best for your retirement.

MID-CAREER SINEAD HOURIGAN BRISBANE DIRECTOR, ROBERT WALTERS

I’m always so genuinely excited when I meet candidates who are reviewing their retirement options. The answer to this question will be highly dependent on your employer. If your employer has a clear and defined workforce planning strategy and demonstrates open communication, then the earlier the better. This way, you might find there is opportunity for you to remain engaged with the business. If your employer reacts badly to employees leaving, then ensure you give, at least, the appropriate period of notice as per your contractual arrangement. Most importantly, enjoy your retirement.

UP & COMING JULIE FORD SENIOR EXECUTIVE CONSULTANT, McARTHUR

There is no specific mandated notice period when retiring. As with many organisations, there may be something built into your contract or the organisation’s policy which guides the required expectation. The notice periods will be different depending on the type and seniority of the role. As a matter of professional conduct and good business practice, allowing as much time as possible for the employer to source a suitable replacement and a period of handover or cross-training is a great way to exit an organisation. The main thing is to communicate your intentions clearly and early.

THE EXPERT DR NERIDA HILLBERG DIRECTOR OF PSYCHOLOGY, FERRIS MANAGEMENT CONSULTANTS

This depends on your individual arrangements so refer to your employment contract. I recommend talking to your employer before notifying them in writing. If you have been with the same employer for an extensive period of time, a longer handover period may be desirable. When longstanding employees leave, quite often their informal knowledge departs too. This is the stuff not written down, that isn’t immediately picked-up by your successor. My final word is to make 100 per cent certain you are ready for retirement.