From Employee to Consultant – At Your Current Company

Exchange your full-time position for a part-time consulting gig – for the same employer!

As an aging baby boomer, you may feel that retirement is approaching far too quickly. Or maybe you have the uncomfortable feeling that you’re being positioned for unplanned retirement – whether you’re ready or not.

Consider turning the tables on your employer!

If you’ve been a valued employee, your retirement may save the company money. But you are going to be taking with you unique knowledge and skills that the company will be hard-pressed to replace.

If you can make them aware of that impending brain drain, you may be able to craft a new position that will work to the advantage of both of you.

Here is a three-step plan for a new retirement option.

First, identify your key skills or experience – the things that your company will miss most or have the most trouble replacing.

Just like someone looking for a position in a new company, building a library of your accomplishments is the very best way to complete this first step. Above all, a properly drawn list of accomplishments will make it very clear the monetary value and contributions you have brought to the company… and what will be lost when you leave!

Second, consider the best way for you to transfer your knowledge given your company’s culture and make-up. For example:

• Could you focus only on critical skills and cut back to working part time? This would give the company the chance to develop other leaders.
• Would it be appropriate to select a specific person you can mentor and train? Closely working together could guarantee that specific knowledge or leadership qualities get transferred and thus stay within the organization.
• How about setting up some sort of program whereby you would serve as advisor or trainer to selected employees or employee groups? Naturally, you will need, or will have to develop, the ability to present effectively.
• Perhaps you could serve as a trouble-shooter on call, helping solve specific problems or helping design new projects.

Third, work with senior management to draft an appropriate new working agreement. It may require some negotiations around compensation, 401k contributions, health insurance, etc.

You can take control of how the exchange will happen. Be sure you understand the full ramifications of changes you agree to.

But do take control. There’s no reason to simply wait for the inevitable when everywhere people are looking for creative new solutions to business challenges.