Making plans for your retirement is your reward for working hard throughout your life and is the perfect time to figure out what you really want to spend your time enjoying.
However, if you are reaching retirement age, you might be wondering: How do you gracefully retire from a job?
In this article, I will provide you with some useful tips on how to gracefully retire from your job. So, when it comes to telling your employer that you’re retiring, you have a better idea of how to approach the situation.
Without further ado, let’s begin.
Table of Contents
- How To Gracefully Retire From A Job
- Always Plan Far In Advance
- Figure Out The Best Time To Inform Your Boss Of Your Retirement
- Request A Private Meeting With Your Boss At The End Of Their Working Day
- Ask Your Boss About How To Inform The Staff Of Your Retirement
- Write A Letter To Your Boss To Confirm Your Intention Of Retiring
- Tell Your Coworkers
- Tell Your Friends And Family
- Keep It Laid Back And Simple
- In Summary
How To Gracefully Retire From A Job
Always Plan Far In Advance
The decision to retire is one of the most significant decisions you will make in your lifetime. When it comes to making this decision, it’s important that you plan far in advance.
Generally speaking, you should be planning your retirement at least six months in advance, as this will allow you the time to mull your decision over, use up any remaining holiday you have.
Planning this far in advance also gives you time to familiarize yourself with your company’s retirement policy.
These policies will also inform you if your company has a rule about how far in advance you must notify your employer of your retirement, allowing you to figure out your next steps.
Figure Out The Best Time To Inform Your Boss Of Your Retirement
Reading your company’s retirement policy is an important step to take to figure out when you should inform your boss of your retirement plans.
It’s essential to follow company protocol, but in most cases, there’s quite a bit of breathing room when it comes to informing your boss of your retirement.
It’s important that you remain wary of announcing your retirement too early. This is especially true if you’re in a supervisory position, as it could lead to your boss believing that you’re not invested in the company, and your directives might not respect your authority.
That being said, it’s not uncommon to give a minimum of 3 to 6 months notice for senior positions that are harder to be filled.
When figuring out the best time to inform your boss of your retirement, it’s important to use your discretion whilst still following the company’s retiring protocol.
Request A Private Meeting With Your Boss At The End Of Their Working Day
Once you’ve decided when it’s time to inform your boss, you will need to request and schedule a meeting with them ideally at the end of their working day.
This will mean that you have time to discuss your retirement plans with them, without imposing on your boss’ work commitments that they have to take care of during the day.
How formal this meeting is will largely depend on the type of relationship you have with your boss. However, you will want to make sure that you have a firm plan in your head for your retirement that you can relay to your boss.
Ask Your Boss About How To Inform The Staff Of Your Retirement
Something that you should discuss with your boss is how to inform the rest of the staff about your retirement.
While some companies have certain policies that state that a formal announcement needs to be made, some might leave it up to you to tell your coworkers.
If you’d prefer to let certain employees know yourself, be sure to inform your boss that you’d like the chance to be able to do so before they make the formal announcement of your retirement.
Write A Letter To Your Boss To Confirm Your Intention Of Retiring
Once you have verbally informed your boss of your retirement, you will need to write a formal letter that states the date of your retirement.
Including the exact date of your retirement in all correspondence helps to avoid any confusion or speculation and simplifies work for other employees that depend on you.
Despite the fact that you will likely have made your retirement plans clear in your verbal exchange, human resources will require a formal letter for their records.
Once you have informed your boss of your retirement plans, you will need to follow up with human resources to find out when the paperwork is due.
Tell Your Coworkers
Now the formal stuff is out of the way and you’ve made your decision, it’s time to tell your coworkers.
Informing close co-workers in person is a good way of announcing your retirement. Alternatively, informing your co-workers of your retirement via email or telephone is a good way of maintaining a good relationship with them, and ensures that they feel valued.
After all, you spend most of your days with these people, and it’s natural to form close bonds with them over time.
Tell Your Friends And Family
Regardless of how tempting it may be, you should only tell your friends and family about your retirement plans after informing your work that you are leaving.
You never know who might accidentally mention something to someone, and word of mouth is a sure-fine way to land yourself in an awkward situation with your employer and colleagues.
To ensure that you are doing everything above board, always keep your retirement plans quiet until your work is made aware.
That being said, telling your spouse of your decision is obviously an exception. Just be sure that they know your decision is confidential until you have let your employer know.
Keep It Laid Back And Simple
While you need to remain formal with telling your employer and colleagues that you are retiring, when it comes to telling your friends and family, you can keep things laid back and simple.
Whether you decide to let them know in person or over social media, how you tell them is ultimately up to you and what you’re the most comfortable with.
So, there you have it. Hopefully after reading this article, you have a better idea of how to retire gracefully from your job.
Good luck informing your employer, friends and family, and enjoy your retirement!