Early Retirement

06 September 2012 Categories: Gerry's Corner

               An acquaintance shared a sad story which happened recently and depicts a common trend in modern day business. Here is a person who went to work right after High School and spent 38 years with the same company. She had an unfortunate injury ( almost died ) some 4-5 years ago that put her in the hospital for 2 months plus a recuperation period of 5 months. Fortunately the recovery was 100% successful. She returns to work in her same job but things were never the same. The demands on her became greater and in some cases next to impossible. She was left with the feeling that they wanted to get rid of her. She persisted and met all the demands successfully even though at times they were unrealistic. Her motivation was to make it to retirement in a few short years. Things got so bad that she started hating her job and dreading going to work each day. Unfounded accusations started about her performance. In August, she was called in to the office and told  her performance was below average and that they would have to let her go. Because of her long tenure with the company they offered her an early retirement package of 40% of her current salary with continued benefits. With 2 years to go for full retirement this was a real insult. Her options were to fight it legally which she could not afford or to be fired for less than acceptable performance.

        She accepted the offer but now faces the difficult task of finding more work at the age of 56 to pay her bills. My experience tells me that if she remains in a positive frame of mind, she will find other work and chances are great that she will make more money than she did before plus having a small pension. The difficult part is to get over the short term depression.

This is an all too common scene in business today then companies wonder why there is a lack loyalty from employees. This is not a great motivation for younger workers looking at their futures.