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Resigning as Finance Manager

Kindly assist with the implications be it professional, ethical or moral of a Finance Manager who is the principal bucket owner of an audit resigning just when the statutory audit started. He resigned because he had a better offer from another company. What are the implication to the Company and the Finance Manager..?

Answers

Anonymous
(Controller) |

In the corporate world today, both the Company and Individuals have to look out for themselves and what's in their best interest. There are so many variables that the manager has to decide when looking for a new job. For him to be looking, maybe he wasn't happy where he was and if a great opportunity arises at a bad time for the company, does the manager give up that opportunity to please the company? I think it's professional if he/she resigns with enough notice to find a new replacement and possible train him/her or even train the existing staff to lead the audit in the interim.
This would imply to the company that the manager wasn't happy there and if so they should find out the reason, to try and correct it either with a counter offer or for the next manager.

Aaron Packeys
Title: General Manager - Finance (CFO)
Company: NSIA Insurance
(General Manager - Finance (CFO), NSIA Insurance) |

Great response

Anonymous User
Title: CFO
Company: Local Government Agency
(CFO, Local Government Agency) |

"I think it's professional if he/she resigns with enough notice to find a new replacement and possible train him/her or even train the existing staff to lead the audit in the interim."

It might be professional. It might even be generous. But, it isn't always possible and is frequently NOT a good move for the individual involved. BTDT!

In my experience, once it is known that you are leaving, you are a "lame duck" and you can accomplish little. No one supports you. In fact, you are frequently viewed as not being on the team anymore by others at all levels.

And, when the company asks you to stay on during a transition, they end up asking too much and burdening you with things that really should be addressed by our replacement. And, after you leave, no matter how hard you've tried to set things up for continuity, you get bad mouthed and blamed for all kinds of things. Many you didn't even know about. This is just a defensive move by a jilted lover.

Alternatively, how many organizations provide enough notice for you to transition to a new work life?

I've laid off and I've been laid off. The standard line is "it's just business". Which I've learned to accept without ill will. However, it remains a two way street. I feel no obligation to be so committed as to make any long term commitment anymore than any employer has ever made a long term commitment to me.

If an organization wants such a commitment, we're going to have to talk contract. And, that's going to cost them at least as much as it potentially costs me. Otherwise, I'm a free agent. At will employment is just too one sided for anything less.

I always like to say, an honest day's work for an honest days pay. Let's keep it that way.

Steve Sheridan
Title: Associate
Company: Dean Lewis Associates
(Associate, Dean Lewis Associates) |

I'm going to disagree with some of the above. I've been laid off and also given notice that I was going to leave. In both instances, I always resented someone saying I was a "short-timer". I had a job to do, things to accomplish, and plans to make to better the place for which I worked. I wanted to leave a legacy because I cared for my employer and fellow employees that were staying there. I felt this way even if I was being replaced, and worked until the last moment I was an employee there.

Just my two cents...

Aaron Packeys
Title: General Manager - Finance (CFO)
Company: NSIA Insurance
(General Manager - Finance (CFO), NSIA Insurance) |

wow..! very insightful

Topic Expert
Wayne Spivak
Title: President & CFO
Company: SBAConsulting.com
LinkedIn Profile
(President & CFO, SBAConsulting.com) |

I unfortunately have to agree with the CFO (@ local government agency). Corporate America has created an environment where it's all for the employer, such as the two-week notice rule, and its unprofessional to leave in the middle dogma.

In the 50's and 60's that may well have been true, but it hasn't been since that time.

Just as these new employers shlep you along until they give you an offer, the overriding "gotcha" is you need to start tomorrow. Well if you need to start tomorrow, how are you giving a 2 week notice?

Then there is the question of questions after you leave. Are you going to be compensated for them? Are they making the compensation your severance?

One could go cliche happy at this point; "do unto others as they would do unto you", "what goes around comes around", etc.

I like to finish things, but that is not always possible or the right thing to do for the most important person in my life, me. Each situation is different and do you best to make the right decision for you, not the old employer or the new employer.

Lastly, I also think in this day and age, rising to an upper managerial position, that an employment contract is in order - spend the money on a good labor attorney, it will be well worth it.

Anonymous User
Title: CFO
Company: Local Government Agency
(CFO, Local Government Agency) |

Thanks for the support Wayne!

I don't mean to sound bitter, or selfish. It's just that for many years, I tried to take the high road; to leave things better than I found them and to be generous with my time and energy in fostering the turn over. And, in only one case that I can think of, has this worked out well for all concerned. Usually, I got the short end of the stick because I stuck to my ethics but others didn't have any. I ended up being taken advantage of or having to endure negative comments about my tenure there which were being proffered after my departure.

It's frequently a no win situation. So, it is best to just move on.

I've observed the same thing happening to colleagues of mine that also tried to be fair and helpful in leaving a position. They tried to be fair and ethical only to end up hurt or bitter or worse.

I know it can work. But that depends on all sides working together without anger or resentment. That depends largely on the work environment involved. Even good work environments can throw off negative energy when the team feels betrayed by one's elective departure.

My standard advice to colleagues who inquire about job searching and giving notice upon acceptance of a position elsewhere is to; keep it to themselves; provide two weeks notice, and; be prepared for a lot of negative reactions that they might not expect. And for potential bad mouthing after they leave.

Just leave, hold your head up and move forward.

Oh, and I tell them to skip any exit interview and keep their reasons for leaving to themselves. Just give the standard "I'm moving on to a new challenge". There is nothing to be gained by being honest and much too be lost. Your employer will most likely be playing it this way anyway. That's why they ask for honest feedback while they are sicking HR on you. They want to know what you think, but they won't share their honest thoughts. They want to know all the cards but not reveal any of theirs. They want to retain power.

Conversely, when I have an employee resign to take another position, I usually get them a final paycheck, including two weeks post and send them on their way cheerfully. There is little to be gained by retaining them and it frequently hurts the morale of those who remain. Or, inspires them to dream of the greener grass on the other side of the fence as well. Which can add to your burden.

The exception I would make to this would be if the employee is leaving for reasons other than taking a new job locally. Health. Moving out of the area. Retiring. etc. That's somewhat different then them voting the organization off their island.

Aaron Packeys
Title: General Manager - Finance (CFO)
Company: NSIA Insurance
(General Manager - Finance (CFO), NSIA Insurance) |

Many thanks.. great response. @Wayne Spivak.

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