We have worked with many dozens of companies on new forms of staffing and scheduling, including what we call “Respectful Exits.” These mutually respectful forms of phasing out of work can include 1) an open-ended reduction in work time, 2) a revised schedule with knowledge transfer and 3) voluntary termination with return to work on contract.
Our clients recognize that to be effective, Respectful Exits need to be based on shared principles and driven by mutual respect and gain. The drivers for this approach:
- For the company: retention of valued employees beyond “retirement age”
o The options had to be diverse enough to appeal to many employees
o Work needed to be re-prioritized to align with reduced schedules
o Knowledge transfer and mentoring had to be well-designed and executed
- For the retiree: continued employee status, benefits and a path to full retirement
o Assurance of longer employment on a reduced schedule
o Receipt of prorated benefits with no negative impact on pension terms
o Opportunity to eliminate low-value work and engage in mentoring
I love my new exit plan. I work fewer, more focused hours, regularly mentor younger staff and continue to save for a comfortable retirement. My boss and my co-workers say I’ve never seemed more engaged in my work. What an opportunity!
We are a talent-driven company with a focus on Millennials. We also recognize the proven talent, commitment and key knowledge in the growing older workforce. We offer a variety of exits to satisfy employees, assure productivity, and capture irreplaceable knowledge. We manage them with respect.