businessman throwing away files and documents

RESIGNATIONS

December 17th, 2014 Posted by

Resigning is not as simple as handing in a letter to your boss and giving two (2) weeks notice.  In fact a resignation may be quite complicated depending on how long you have been at your job and the seniority or importance of your position.  First, you should not resign until you have confirmed your offer of employment.  If you are entering into an agreement that means you should wait until it has been signed by your new employer.  If the new employer requires a drug test and/or criminal background check it would be prudent to get the results back before resigning even if you have nothing to worry about.

Second, you should conduct a review of what you may be leaving behind or losing as a result of your resignation.  The longer your tenure the more likely your voluntary departure will have consequences on any welfare and benefit plans such as stock options, deferred compensation and pension that you participate in.  Make sure you understand the effects of a resignation on your rights to monies or benefits due you under these plans. Third, make sure that by taking the new job you are not violating any non-competition, non-solicitation or confidentiality restrictions you may have agreed to.  If you work on Wall Street you should check to see if you are subject to what is known as “Garden Leave.”  Fourth, while giving two or three weeks notice is prudent do not be surprised if your employer asks you to leave the premises immediately. Pack your personal items and organize your desk and files before you resign so that you are ready to walk out if they ask.