Boss who made vague promises seems ready to sell, retire - Albuquerque Journal

Boss who made vague promises seems ready to sell, retire

Dear J.T. & Dale: I’ve been working for my boss for 10 years. It’s a small company, and he’s always said that, when he retires, I would be rewarded, especially if he sold the business. However, he’s been very ill recently and has been out a lot, and I’m getting the impression that he might be just selling and retiring. My concern is that I may not get what I was promised. Is it OK to bring it up? — Carmen

J.T.: I think it’s certainly OK to inquire about how he’s feeling and whether or not he’s thinking of selling the business. However, I don’t think you should inquire just yet about what you’ll receive. Given all that’s going on, it’s possible there just isn’t anything for him to give you. I would focus more on getting an assessment of the actual situation with the business. Then, you can, at some point, discuss what would be your exit strategy. My guess is that talking with him about it in that way will cause him to bring up rewarding you.

DALE: You want to be sensitive to the health situation, but I hope you can find an opening to negotiate something in writing. After all, it’s easy to offer to share hypothetical proceeds from some rosy future sale. This owner has strung you along for 10 years and now it would be simple for him to stiff you and simply say, “Sorry, it didn’t work out.” That’s true whether he’s sick or not. So let this serve as a cautionary tale to other employees with owners offering vague promises. Early in my career, I was VP at a consulting firm and the owner kept telling me that he wanted to retire and turn the business over to me. Specifically, he sat me down one day and told me that he wanted to retire in five years. Well, two years go by and he brings it up again, and he tells me he wants to … you guessed it … retire in five years. Then, when he knew I was thinking of leaving, he offered to put the transition in writing. He drew up an agreement that laid out when he’d retire and how I’d owe him a fortune, which essentially meant that all the profits would go to him for a decade or more after he left. I was grateful — grateful that I found out the real story and could move on.

Dear J.T. & Dale: I’m going to my first in-person interview in over two years. I don’t know what to wear. I’ll bring a mask, but I don’t know how dressed up people get these days. I can’t imagine that super-dressy attire is still required, but the company is in financial tech, so it could go either way. Suggestions? —Xavier

J.T.: The easiest thing to do is ask the person who set up your interview. Send an email asking what the dress code is. I agree that it’s highly unlikely that it’s super formal, but you don’t want to get there and miss the mark. Nobody is going to fault you for asking. In fact, it shows your focus on succeeding in the interview by asking the question. However, if you’re uncomfortable doing that, you can always check their social media and see what people are wearing from pictures in the office.

DALE: Two thoughts: One, short of showing up in a tux, you can’t really overdress. If you wear a suit and they’re in jeans, you can whip off the tie and say, “I’m so glad to see that you’re casual dress.” They’ll love you for the respect you’ve shown them. Two, as part of your prep, you probably want to drive to the offices ahead of interview day to make sure you know where they are, where you’ll park, and so on. While you’re there, walk around the area and get a sense of styles, or you can play private eye and watch employees come and go at starting or quitting time. Figure this out and you eliminate one small distraction.

 

Jeanine “J.T.” Tanner O’Donnell is a career coach and the founder of the leading career site www.workitdaily.com. Dale Dauten is founder of The Innovators’ Lab and author of a novel about H.R., “The Weary Optimist.” Please visit them at jtanddale.com, where you can send questions via email, or write to them in care of King Features Syndicate, 628 Virginia Dr., Orlando, FL 32803. (c) 2021 by King Features Syndicate, Inc.

 

Home » Business » Boss who made vague promises seems ready to sell, retire


Albuquerque Journal and its reporters are committed to telling the stories of our community.

• Do you have a question you want someone to try to answer for you? Do you have a bright spot you want to share?
   We want to hear from you. Please email yourstory@abqjournal.com

taboola desktop

1
Intel on course to complete $3.5B upgrade in New ...
ABQnews Seeker
Company is hiring in Rio Rancho ... Company is hiring in Rio Rancho as construction steadily progresses
2
New Mexico's unemployment rate dips slightly in May
ABQnews Seeker
But joblessness is still highest of ... But joblessness is still highest of all 50 states.
3
Commission takes steps toward new Tucumcari hospital
ABQnews Seeker
The Quay County Commission on June ... The Quay County Commission on June 13 took several significant steps to building a new hospital to replace the aging Trigg Memorial Hospital in ...
4
Conference outlines NM solar successes, challenges
ABQnews Seeker
A rainy morning couldn't dampen the ... A rainy morning couldn't dampen the sunny enthusiasm at the American Solar Energy Society conference on Wednesday at the University of New Mexico. Industry ...
5
Company renews request to increase water use at Los ...
ABQnews Seeker
The Niagara Bottling Co. is again ... The Niagara Bottling Co. is again asking the village of Los Lunas to increase the amount of water the company can extract from the ...
6
CO-based commercial space firm to land in New Mexico
ABQnews Seeker
Colorado-based Sierra Space plans to land ... Colorado-based Sierra Space plans to land some of its Dream Chaser flights in New Mexico, after the ...
7
New Mexico's aggressive pursuit of hydrogen reignites debate
ABQnews Seeker
Gov. Michelle Lujan Grisham's administration has ... Gov. Michelle Lujan Grisham's administration has doubled down on efforts to build a hydrogen e ...
8
Tavern specializing in ‘comfort food’ opens at Avanyu Plaza
ABQnews Seeker
Changes are a-coming to the Indian ... Changes are a-coming to the Indian Pueblo Cultural Center in Albuquerque. The center, located near 12th Street and Interstate 40, is continuing its roll ...
9
Meet the head of Albuquerque's Street Food Institute
ABQnews Seeker
The organization, based in a commissary ... The organization, based in a commissary kitchen at Central New Mexico Community College, trains not only CNM students but anyone who is interested in ...
10
AI's abilities may grow, but will never attain humanity
ABQnews Seeker
Artificial intelligence is occupying an increasingly ... Artificial intelligence is occupying an increasingly consequential role in our economy and culture. ...