Transition Out Plan: Fill & Download for Free

“So you’re gonna look for another job?” I asked Steve.“Yes,” he responded. “I’m stuck here, Brett. I need to keep growing.”At the time, I was the general manager of one of three divisions at the company Steve and I were working at. We’d known each other and worked together for over ten years at this point.I loved working with Steve, but there was no more I could offer him, nor was there more the company could offer him. The only way he could continue growing was by leaving.Eventually your goals and your employees goals will diverge.I was really sad, but I knew Steve was right. It was time for him to move on. The worst thing he could do would be to stay because he would grow frustrated.That’s why, even though it really painful, it is healthy that really good people move on when they can not achieve their long term goals any more.“How close are you to finding another job?” I asked Steve.“You know how our industry is,” Steve replied. “I already have a few companies recruiting me. I just wanted to give you a heads up.” In other words, Steve would be leaving in the next month to two months.I only had one ask for Steve. I said, “Will you help me train your replacement as you transition out of the company?”Steve, of course, agreed to help.Be helpful to an employee transitioning out of your company.On my one year anniversary of working at Maxim Integrated Products, I received a watch and a letter from the CEO, Jack Gifford. In the letter Gifford talked about his father working for the same company his whole career, and how he hoped all Maxim employees would do the same.Times have changed since Gifford’s father’s time. Your employees are likely to change jobs multiple times in their career. Your job is to help them grow and be productive during their time with you.But remember that eventually your goals and your employees goals will likely diverge.And that’s okay and normal. Just be transparent and helpful as an employee transitions out of your company because it’s in your best interest to have an employee leave on good terms.This holds even for employees that you have to fire. After all, you’re the one that hired the employee, so you are responsible for having terminated them.Your ex-employees can be great ambassadors for your company.“I don’t know what you did, but even the people you fired spoke highly of you,” Tucker, a potential investor said to me.“Really?” I replied. I was surprised. I had to fire two of my cofounders, “Ken” and “Randy,” within one of year of starting my company. The terminations were not pleasant, but we went out of our way to be fair and reasonable.In contrast, when I was fired from Micrel years earlier, the company fought to not pay me a large bonus that I rightfully deserved. Eventually, they paid me my bonus, but the damage was done.In other words, don’t create enemies where you don’t need them. A little extra generosity can go a long way.For more, read: What Is The Best Way To Build & Manage Your Startup? - Brett J. Fox

I’m a 52 year old software engineer. I make a great income, but less than I made 12 years ago. Here are my tips:While you’re in your peak earning years, pay off your cars, house and all other debts. Save a lot of money. Assume by 55 you’ll be laid off and nobody will ever hire you again.Continue to learn new skills constantly. I went back to school for a MSCS in my late 40’s.Be willing and ready to transition out of a developer role into developer support, product management, technical program management or other related job that still leverages your technical skills.Don’t lose hope. Plenty of people make more in their 50s than they did in their 40s. But also accept that you may make less.Try to enjoy what you do, and not just chase money.

Partly because the odds of that happening are about the same as my chance of being struck by lightning while being eaten by a shark with a winning lottery ticket in my hand, times a million. Partly because the Tesla will be completely unshielded from radiation while loitering (deliberately) in the Van Allen belts, and will remain unprotected during the next several month of transit out in Mars’ general direction. Partly because the Roadster would burn up utterly if it hits the atmosphere.And of course, partly because Elon expects humans to be on Mars spreading cooties around with front-end loaders in about a decade, and he plans to offer rides. He doesn’t give a rat’s reputation about contaminating Mars.Edit the third: If you like space, you might enjoy my free award-winning scifi sampler.