BenovianU_ThoughtfulOffboarding

Thoughtful Offboarding: Planning Your Exit

A recent survey from Robert Half revealed that 83% of HR managers believe that how you quit your
job can impact your future. If your erstwhile passion for your job has been replaced with visions of a
dramatic resignation, wait! Take a moment to plan your exit and prepare for the next opportunity.

Once you feel confident that it’s time for you to exit an organization and before giving your notice:

1. Thoroughly review your current employment experience. Assess your contributions and
outcomes, quantifying and qualifying your impact in key projects. Your ability to convey these
experiences on paper and during interviews will bode well.

2. Review your employers’ policies regarding employment references and employment
verification. Are managers permitted to give references? Does your employer use a 3rd party
vendor to verify employment? If so, what information is disclosed to prospective employers (for
example, last day worked, last pay rate, or whether your exit was voluntary)? If you don’t find
answers in policy, ask your HR or Payroll contact for guidance.

3. Consider your liabilities to the company. Carrying a balance on your corporate credit card?
Accept a sign on bonus? Have you received tuition reimbursement? You may be beholden to
a repayment schedule or an agreement outlined in policy or in your offer letter. Repayment
agreements establish terms and conditions of paying back money borrowed —ie, how much
money you must repay if you exit the company within the first 1 year, 3 years or 5 years. Ask
whether your final paycheck will be reduced to cover your liabilities. If you’ve taken a loan
against your 401(k), be sure to understand repayment expectations.

4. Money left on the table. If you’re bonus eligible, consult your bonus plan document to
determine whether termination date would mean forfeiture of bonus payout. If you’re
commission eligible, do you forfeit all or a portion of your sales commissions? What’s the
vesting schedule for your employers’ 401(k) plan? Understanding these items may influence
the timing of your exit.

5. Health and wellness items. If you’re enrolled in your employers’ health and wellness plans, find
out when your medical/dental/vision coverage ends. Then, schedule routine appointments for
yourself and dependents. Have you been wanting to try acupuncture or other holistic healing
forms? Now might be a good time! Research whether your current medical plan covers those
visits.

6. Final Pay. Get clarity around 401(k) balance roll-over/disposition, when to expect the last
paycheck, and how much accrued unused time is paid out.

7. Gather contacts. Connect with anyone (including peers) who has demonstrated their support of
your professional development. Be intentional about keeping in touch—and follow through.

8. Understand your chances of returning in the future. If you are curious, ask your HR contact
“am I rehireable”? Know whether you are leaving in good standing. You may be able to
discern a lot from body language, facial expression or verbal tone. Sometimes we can learn
more from vague, evasive responses or silence.

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Gaining clarity on these items could influence the timing of your departure and help you maximize
your final months with your employer.

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