How you finish is as important as how you start

November 2, 2022

The world can be a very small place sometimes, and you never know when and where you will run into old colleagues and managers again. Leaving on a good note is important, and ensures you don’t inadvertently close a future door on yourself.

The pandemic ushered in a period of unprecedented change in the labour markets. From working from home to the great resignation, the workplace of early 2020 now feels gone forever. After the initial economic collapse, governments pump an almost unimaginable amount of stimulus into the economy, some would say too much, and the result of this has been an outstanding environment for job seekers. Rapid re-opening, growth, and the churn created by the great resignation has meant that firms have been crying out for talent. As well as people joining firms in record numbers, one firm’s gain is another’s loss and we want to focus on the often overlooked subject of how to exit a firm.

The counteroffer

Almost every candidate, at every firm is being counteroffered. Why? The simplest and cheapest way to close a vacancy is to stop the person already in the job from leaving. This can be a strange time for candidates, as they are often extremely flattered and surprised to see their manager being so pleasant and helpful. However, once a candidate has made the decision to leave a firm, things can soon sour. In our experience most counter offered candidates are on the market again a year later. In fact, research shows that 80% of countered candidates leave within 6 months, and that job security drastically reduces after a counter offer. Read more on this here.

Run right through the line

You are on the payroll right until your last day. The reaction of most people is to cruise through their notice period, but why? Why not be remembered as the person who supported their colleagues right until the end. The person who was so professional that others will only speak well of you in the market. The person, who should you cross paths with your manager again, is re-hired by a former boss on a fantastic new salary. Make sure you still turn up on time and don’t become disruptive or difficult. Others are still committed to the firm you’re leaving and their financial security relies on their employer continuing to be a success.

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Providing constructive feedback

Firms may well want to know why they lost you. This isn’t time to air petty disagreements, but sharing constructive feedback can be very helpful. Give real thought to your exit interview and how you can help your previous firm in refining their employee offering. You’re moving onto a new role, your loyalties will lie elsewhere soon enough, but why not help improve the working environment for your former colleagues and friends.

It’s an urban myth that restrictive covenants aren’t enforceable

Speak to any legal professional and they will tell you restrictive covenants need to be respected – otherwise you could be putting yourself in a difficult situation. Ask any amateur lawyer, and they will tell you some tale of how covenants aren’t enforceable. Our advice is always to follow them, and if you’re not sure what they are, to take legal advice.

About Fram Search

Established in 2010, Fram Search is a specialist financial services recruitment consultancy. We focus on mid-to-senior hires in the UK and internationally.

We provide high quality contingent and retained recruitment services to boutiques and global brands. We have long established relationships, outstanding market knowledge, and access to deep talent pools. Fram takes a highly consultative approach, combining outstanding tech with a human approach. We are proud that our contingent fill rate is nearly three the industry average and we augment our retained search methodology with rigorous psychometric testing. We take ESG seriously, we are champions of diversity and all staff have undertaken unconscious bias training, we also carbon offset.

Please contact us on 01525 864 372 / [email protected] to learn more.