Retirement Farewell Party
Retirement | The Saturday Weekly Review

Do you expect to get a retirement farewell party?

Retirement Farewell Party

NOT ALL EMPLOYEES VALUE RECOGNITION THE SAME

You would think after spending countless years with a company that they would throw you a retirement farewell party but that’s not always how your last days may end.

Spending years with an organization and seeing how employees have been treated certainly paints a picture for any employee when it comes their time to step down and retire.

In one sense they already know what’s coming but in another, they know that change is inevitable because they’ve seen it happen over and over.

If for example every year you get a Christmas bonus at work of $1000 you might come to expect that every year to pay for the holiday festivities.

However, once the employee bonus is taken away or minimized some may feel less than the employee they were from the year or years before.

If you don’t explain to your employees the reasons why they may just feel you aren’t appreciating them as much as you did the year before.

In most instances, it’s just a simple business decision based on budget and other reasons.

Recognizing Employees Is Important

When someone works for any company and I don’t care who they are they MUST be recognized.

If an employee is doing a good job for the organization or even when they leave for retirement, show them they will be missed. 

Even if someone is doing less than a stellar job it’s important to focus on the positives that the employee brings to the company.

However, you must also communicate ways to improve the areas in which they need to improve on.

No one likes to be told when they are doing something wrong all of the time without recognition for what they do right.

That is a big problem for many companies because they forget to recognize their employees for work well done.

It seems to be the norm to only talk to employees when they are not keeping up to speed with-in their role or there is a need for reprimand.

That in itself is not motivational for any employee because who wants to come to work every day when the leaders don’t know how to properly motivate and lead a team to do the best possible job.

I’m sure there will be many leaders who read this and say “I motivate my team” but do you motivate individuals as well? 

The point is no matter where you land on the pay scale we all like to be recognized for a job well done.

It doesn’t have to be from a monetary standpoint either, just a simple pat on the back, handshake and push in the right direction with a smile.

Many bosses who forget to smile forget about their employees.

If you haven’t watched the show Undercover Boss before I encourage you to do so because those bosses are true leaders not only for the organization they own or run but to the employees who think they are forgotten.

Retirement Farewell Party

When retirement time comes for many long-standing employees they, like anyone else, want to be recognized.

They may not want the big fancy party like Toronto Transit Commission (TTC) employee who posted a video on YouTube under the name Ron Mitchell who was disgruntled after he got nothing and I mean nothing.

There was no good-bye retirement farewell party, no handshake, no thanks for coming out and spending 31 years with us, zilch.

In my opinion, that is harsh although the TTC said it was over the holidays and it got missed which should never have happened but the reality is, it did and it will continue to happen all over the world.

Some people say he was whining in his video because he had a “cash for life job” but they are failing to see that this was not about money.

This was about pride, dedication and building a relationship with an organization, its people and the customers over many years.

I guess it depends on the person and how they value themselves as an employee. 

You’d have to consider whether they liked their job or stuck around because there were slim pickings in the job market.

Some employees are simply retirement ready and don’t often care if anyone says, good-bye.

However, walking out the doors of an organization you dedicated your life to is a big deal to many people especially when there is a bond with the company.

You didn’t just work for them you felt a sense of ownership and part of a family over the years.

You’ve seen it all, done it all and know there is more to come but you won’t be around to see it.

The TTC has since reached the retired employee who tossed his work gear in the bin on the way out on his last day to make things right.

I felt that the TTC did the right thing and to at least acknowledge someone who has given the time and dedication to an organization is imperative.

Like I mention at the beginning of this post ideals are formed in our heads as we see what happens with other employees over the years.

Unless you like a high turnover which most companies do not due to the high cost it’s important to take care of your employees and vice versa from an employee standpoint.

Make sure they have a voice and listen to them whilst recognizing the work they do even if it is in the form of “job well done”. 

Retirement Expectations

Everyone values recognition differently so what one person feels is important another may find it’s not so relevant to them.

For example, not even a goodbye during their last day of retirement would phase them.

Do I expect to get a retirement farewell party when I leave my company?

To be honest, no I don’t but I haven’t seen anyone retire yet so I don’t know what the protocol is for my organization.

In my mind, when I walk out those doors for the last time a handshake, good luck, thank-you for your years of service is good enough for me.

If I’ve planned my retirement properly I certainly won’t be thinking about what I was doing at work all those years even though I would have been dedicated to my role.

I’ll be soaking it up with a drink in hand somewhere hot on a beach far, far away or roaming the streets visiting countries around the world.

In all seriousness, no one likes to feel left out or that they meant nothing to an organization.

We are all human and we have feelings even if some of us hide it well.

Dedicating your life’s work to an organization should count for something if even a pat on the back and ‘thanks for coming out’ rather than a ‘don’t let the door hit you on the way out’.

If you’re a boss be a leader at the same time and you’ll be surprised at how much further ahead you might get with employees.

Discussion: Do you expect to get a retirement farewell party at your organization?

Canadian Budget Binder this week

If you missed any of my posts from the week here is the list of posts you can catch up on reading!

CBB At Home And Blog

Not too much going on here at home although I’m in week two of my new job and all seems to be going well.

I’m really hoping this turns into something that will transition me from my current career to a life-long career with this new organization.

Looks like the time has come to start the renovations so picking up materials is on the top of the list in the coming weeks.

I really want to get a move on with the bathroom renovation upstairs and then the flooring on the main level.

Other than that, life has been like most others spent hibernating indoors or visiting friends at their houses for dinner parties and drinks.

Fan Deal Of The Week

 

after-christmas-deals

Submit your Brag or Inspiration If you have a brag that you want me to share email me at canadianbudgetbinder (@) [yahoo] [.ca] or fill out my contact form by Friday each week to have your brag considered for the Saturday post.

Nicola shares the deals she found after the Christmas holidays with all of us.

This is the best time to purchase things you need for the upcoming holiday season but at a fraction of the price.

  • Candle holder wreath was $10ea x2 paid $.24c ea
  • Lindor Chocolates was $4.99ea x3 paid $.94c ea
  • Crackers big box was $10 paid $.24c
  • Small box Crackers was $8 paid $.24c
  • Cadbury box chocolates was $4.99 paid $.94c
  • Febreeze candle x2 was $1.97ea  paid $.97 had coupon so free!
  • Xmas wrapping paper was $2 paid $.24c

Total = $63.90

I paid = $4.96

Making A Difference

 

Luke1428_Logo

 

 

Making a difference is a part of this post where I share a personal finance blog that I interact with daily and has made a difference in my life.

I have asked the blogger to introduce themselves, their blog and how they want to make a difference with their blog for the fans and for themselves.

Today, I bring you my friend Brian who blogs over at LUKE1428, “Hope for your financial life and beyond”.

“For most of my adult life, I thought I had no money-related issues and was doing things the right way.

Looking back now, I was a spend-a-holic who was abusing credit cards and going into debt each month. My wife and I spent more than we were making and this caused considerable tension each month when the bills came due.

In 2009, my worldview about my money health changed when I read the book Financial Peace Revisited by Dave Ramsey.

I went on to teach his Financial Peace University class at my church.

This started the change in my personal financial life but it was a spiritual conviction I felt shortly thereafter that kicked my change into overdrive.

I became convinced through my faith that I was not being a wise steward of the resources God had given me.

It was through that re-commitment that I found the discipline to control my spending habits.

Luke1428 started in July of 2012 to write about my passion for personal finance.

My strengths as a writer are in making people think, offering hope to the discouraged and motivating people to make lasting change.

I believe anyone can succeed as long as they develop a winning plan and stick to it with intense focus and discipline.”

Google Search Terms

 

Google-web-search-terms

Every week I get thousands of people visit Canadian Budget Binder because they did a search online and found my blog.

Here are a few of my favorite searches that may have even brought you here and you’re reading this, right now.

  • How much Wonder Bread do Canadians buy?– Yup, you’ll find that stat on my blog… not!
  • What’s the final markdown code at Walmart?– Ya, we all want to know!
  • My wife lied about $100,000 of debt, how do I handle this?– Yikes… I’d hate to be this person. (sounds like a good blog post to me though… hmmm)
  • How much explosive can you have at one time in Canada?– OH man… why my blog.
  • Hide money in a TFSA before the divorce– Shhh I won’t tell
  • Why do bran flakes make me hungry?– I dunno, maybe because they initiate a good clear-out and you’re hungry again.. lol

That’s all for this week’s edition of The Saturday Weekend Review #55-Do you expect to get a retirement farewell party?

Have a great week and catch me here again next Saturday with more updates.

-Mr.CBB

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3 Comments

  1. In all likelihood hubby will be officially retiring in late Feb this year. He has been off work due to his health since Feb. 2012 and they hold your job for 2 years at the plant. There is no way he can go back and do his old job……
    The plant has gone through a number of sales/name changes over the years but he held onto his seniority over the years. Back when he hit 25 years they got a group of anniversary staff together and bused them to a restaurant in Kitchener for a dinner and everyone was given a gift. This was on top of the night off, dinner and open bar. Since then we have heard by way of the good old grape vine things have not held to that standard since. They were only giving half the shift off and so on. Hubby hit 35 years in 2013 and was some-how missed in the celebration but the HR at the plant called and came to the house with his gift…that $100.00 Visa gift card I used a while back for groceries.That was nice.He went to the Christmas dinner at the plant in 2012 (his ‘date’ was the plant nurse) and everyone was given a $25.00 GC for M&M Meats…except him. When he asked about it he was told that he would get the GC when he came back to work….. we have heard nothing since. I have no idea what they will or won’t do when he officially leaves the plant….guess we will find out soon enough. He’s thinking of handing in his notice then and I’m not looking forward to it. We have been paying so much per month to maintain his health coverage to pay for his meds. No idea what we will do then. Ontario Disability pays for some stuff so hopefully that will cover us at $2.00 a shot. I hope that ODSP will cover his meds but, like any drug plan there can be drugs they do not pay for. I guess we will cross that bridge when we get there….
    The gent from the TTC certainly vented his feelings……. I hope he felt better after that venting…
    The blog you have listed for making a difference looks interesting.
    My weekend chuckle with the search terms…… Hope you and the Mrs are both feeling better and have a wonderful weekend….

    1. Sounds like they try to keep him in the loop which they should be doing and he should still be part of everything even though he is off ill. I hope everything works out for the best for the two of you Christine. Mr.CBB

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