My former industry was big on offering buyouts to older editors and journalists; the year after I was laid off from a job in Halifax it seemed like half of the journalists I’d worked with there took buyouts and went on to retirement or second careers in PR. After one former colleague did a voluntary buyout — made an offer our employer couldn’t refuse — I tried the same thing, but apparently I didn’t cost them quite enough to make that an attractive proposition. My thought was that if I could get out with a nest egg I could find something better. I imagine the HR director of the day laughing at the idea of giving me money to leave, he likely knew I’d do it without being paid to soon enough. And so I did.
Anyway, my former colleague Dave Paddon has written this article on buyouts and the things you should think about before you accept one. It’s a good read.