Reader advice: Relocation redundancy
Two weeks ago, our Ask the Expert column addressed a question about handling a relocation redundancy. A late response arrived from an anonymous reader, whose personal advice is posted below:
I hope you will forgive me for using an anonymous e-mail, but this allows me to be frank in my advice.
The relocation was never going to happen, it is an industry standard lie. This was a device to make you dig your own grave. Now it is payback time. First you say you met all your targets; this means you're good. In particular you're better than the person they're trying to replace you with. Your business is personal relationships and these are the capital assets that will safeguard the rest of your career.
There is always a good market for people who bring clients with them. This is the first question your next employer will ask. Everything else logically follows from this. You may get a payoff, but your employer's legal obligation is capped at a low level, and you must focus upon how you're going to live for the next 20 years.
Focus on your friends and your foes. Ensure all your good clients have your personal contact details. In addition, you can easily buy a USB key that will download data from your mobile phone and PDA before you return them to your employer, so that you can keep your clients' details.
The new manager is your enemy. He may be a nice bloke and in no way culpable, but he's on the other side. Like everyone else, you have difficult clients; make sure he is introduced to all of them.
On the other hand your clients like you. You don't get to your position in private banking unless this is true. They are on your side, and will help when they can.
Leaving aside political correctness, being a foreign national your replacement will have real or imagined personal characteristics that you can ensure your clients find less appealing. In particular you mention the move to a non-EU jurisdiction. This gives you the opportunity to say things like "I'm sure there won't be any serious money-laundering problems", and "the authorities in X have really cleaned up their act now." Of course you emphasize "now", but avoid being too convincing.
HR are also your enemy. One insight from a senior HR was that her job was to protect the management from staff. You may be a manager now, but on the way out, trust me, you are "staff". Tell them nothing that you don't want used against you. However you can help HR. Efficient downsizing is complex, and offer to help ensure that there is an appropriate handover for each member of staff. This will increase your opportunities to act, and will probably make you one of the last people to be chopped.
Your fellow down-sizees are your friends. Steadily ensure you have all their phone numbers. If you don't have a personal e-mail address, this is the time to get one. For many years now, I have had personal "business" cards with my family home details.
Your team may have greater value together than apart, and your joint marketing will help ensure that you don't fade away.
You should arrange a leaving party to say thank you to your clients. This should of course be arranged before your fate is official, and to ensure this doesn't upset your current employers, invite your replacement. Make sure you introduce him to your clients with enthusiasm that looks like an honourable man defending his firm's appalling behaviour.
The key here is to remain cheerful and helpful. This will give more time for you to build your escape plan. When you realise the game is up it is too easy to simply stop. Offer suggestions, be proactive, keep in the loop. Keep your friends close and your enemies closer still.
I assume you're talking to a headhunter or two? If not, pick up the phone now. After a successful career it won't be all that pleasant, but time is not on your side.
