How Notice Period can kill you? | Mckinsey's 3 best practices in notice period

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The way you treat employees on the last day is much more important than the way you treat employees on the first day. I worked for 3 companies in my career. MuSigma, McKinsey, and Accenture. However, the notice period in all of these companies couldn’t have been more different. What is the notice period? It is a mandatory period that you have to work for a company after submitting your resignation. The way employees are treated during this notice period tells a lot about the company.

Notice period in job is often seen in a negative light. Let’s see what are the different scenarios of employee treatment during Noitce Period. The first scenario is that your company manager will come and tell you that they can match the offer you are getting from another company. The second scenario is your manager telling you that they don’t care if you leave or stay. The third scenario is that if you are working on a project, they will ask you to continue working for another 60 days and leave when the project is done.

The fourth scenario is your company treating you badly. This happens in toxic work environments. This is a very important topic because when you leave a particular company, you become a brand ambassador of that company. Companies need to realize this because people post about their former employer on LinkedIn. Other folks look at that and start and it creates a positive or negative perception around that company. At a time when so many companies are fighting for talent, it is extremely important to keep in mind the treatment they are giving to leaving employees.

The second reason why this is important is because the leaving employees can become your business partners or customers in the future. But this only happens if they leave their former organization in the right spirit. It is important for organizations to understand that treating employees who are leaving the organization better is for their own benefit. But do we see companies taking this notice period seriously?

If you are a leader in any organization, you need to realize that there are also good practices around the notice period. If someone resigns, HR would go to them and ask if everything is alright. They will ask why the employee is leaving. When I was leaving McKinsey, I was leaving because of lifestyle issues. The HR noticed that and told me they were there to always support me. Then they gave me access to the McKinsey Alumni network website. I could go there are start searching for job immediately after submitting my resignation papers.

This period is called search time. McKinsey gives you 3 months for yourself to search for a job. Another way you can help employees is by organization employee meetups. I have attended many meetups organized by McKinsey in the past. This helps people understand what their former colleagues are doing and what are the different things they are currently working on. This leads to understanding what are the different options one has for themselves.

Another way the notice period can be made better is my extending health insurance or any other kind of insurance for the employes until they go and join their next organization. It sounds like a bad investment but not if you think in the long term. I worked for 3 companies but I talk the most about McKinsey. One of the reasons why I talk a lot about McKinsey is because I was treated very well in that organization. Hope you find this video valuable, see you in the next one.

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Chapters

0:00 - Intro
0:25 - Possible Scenarios
1:27 - Why it’s important?
1:58 - Ex-Employees to Partners/Customers
2:36 - Good Practices in Notice Period
3:34 - Organization Meetups
4:01 - Insurance Coverage
5:14 - Outro