In a competitive talent market, companies are unsurprisingly reticent to part with staff - especially if they are an integral part of the team. This leads to a) three month notice periods and b) “buy backs” becoming increasingly common.
This obviously creates a number of problems for organisations. In many instances, a hiring business will:
a) Not want to wait for a prolonged period of time before their new member of staff starts (a lot can change in three months!) having already dedicated so much effort towards finding, interviewing and offering them the job.
b) Not want to be held ransom and have to pay substantially more on salaries than they initially had offered.
So, what can be done to relieve this stalemate? What happens when I have secured a new role and want to leave sooner than the stipulated notice period states? Will an extra £5,000 on my base salary really change anything?
Here is a selection of notice period dos and don’ts...
1. Do: Know your contract
When you are at the interview stage, it is very important to be honest about your notice period and not to make false promises that you can start on a certain date, when in reality you are not 100% sure. It is imperative that you start on the right foot with your new employer, so make sure you know exactly how long your notice period is.
Beyond just your notice period, many contracts of employment will also contain post-termination restrictions. These may hamper where you can work, including what clients you can or cannot take with you. It is important you know what your contract contains.
2. Don't: Think that money is everything
It is widely recognised that the vast majority of people do not wish to move jobs solely because of money. Professionals change roles for a plethora of reasons; flexibility, better benefits or progression opportunities to name just a few. So then why are monetary counter-offers so prevalent and quite often taken?
If you find yourself with a counter offer from your present employer, always ask yourself; “Why has it taken until now for them to offer me a higher salary?”
You may be drawn in by the extra money and feel tempted to accept the counter-offer but remember, research has shown that 85% of people who stay with their present company when presented with a higher salary leave within the next calendar year – the money may change, but the job will very much stay the same!
3. Do: Consider the viewpoint of your employer
You must take into account that your employer may be surprised or upset at you leaving, not to mention the possible headaches involved with hiring your replacement.
Although the last thing that they will want is an uncommitted employee staying around for too long, this must also be balanced on not leaving a team understaffed. The more help that you give at this point will potentially result in your notice period being reduced. This could include suggestions about sourcing your replacement, detailed and thorough handover notes being put together and even assisting writing the job description for your role (we have a few free templates that might help you here).
If life is made difficult for you, then take this as a compliment; it suggests your boss really does not want you to leave!
4. Do: Properly approach an earlier exit negotiation
If you enter into a negotiation with your employer about reducing the length of your notice period, remember these key 4 things:
- Do it in writing, and stipulate a planned leaving date.
- Check how many holidays you have left and use this to reduce your notice period.
- Be gracious and professional right to the end, as this will serve you better in the long run - especially for future unexpected run-ins with ex-colleagues!
- Provide detailed handover notes, including work and projects that need to be handed over to the correct people as well as how long it will take you to complete any existing work.
5. Don’t: Panic if your negotiation is unsuccessful
If you are unable to secure a faster exit than you may have wanted, do not give up hope. Keep your manager posted daily on completion of tasks and if you are on track for completion sooner than expected, you can always put in another request for early release.
6. Do: Be honest in your exit interview
Your employer is likely to arrange an exit interview to find out why you are leaving. They do this to improve their retention rates and gather insight into the perceptions of their culture.
Try to offer constructive advice, but be honest and polite. Remember, you never know when you are going to cross paths with former employees in the future, so professionalism to the end, no matter the situation, is a must!
Seeing out your notice period is an odd time in your career; almost as if you’re in limbo. Try to remain positive, regardless of the reason for your departure, carry on with your everyday tasks like normal and remember to be professional.
If the job you are soon to be joining really is the opportunity of your dreams, then your future employer will wait for you, no matter how long your notice period is. If they do not, then take it as a sign that it’s not the job for you!