Today at 12:30 I attended a retirement reception for a woman who was retiring after 31 years with the company. The sidebar conversations I overheard consisted of "remember whens" and "I'll trade you places." The cake was ok, a bit dry, but good frosting. At 12:29, my overall attitude was "good for her, hope I get a corner piece of cake, I'm looking forward to working on that ad this afternoon." Then, it happened. I returned to my desk where an afternoon of genuinely enjoyable tasks awaited me, but I'd gone through a subliminal change of attitude. Now I no longer had motivation to work because I realized I have 24 years and 10 months before I get a retirement party. I was not productive; I was spent.
I thought about it, and I wonder how much those sentimental 20 minute retirement receptions cost companies each year. They spend $25 on a cake, maybe a plaque, and then there's always the office pool to buy gag gifts (the lady today got a rain gauge because she was always talking about the only people who check rainfall are old retired people). This is what my research found:
- average number of retirement receptions each year per company (A): 4
- average number of employees who attend a retirement reception while at work per company (based on my own experience) (B): 40
- average American hourly wage (C): $23
- number of hours spent in unproductivity after mid-day retirement receptions (D): 4
- money lost by the average American company due to retirement receptions (E): $14,720
- methodology: A*(B*(C*D))=E
$14,720. And that's just one company. I don't know about you, but THAT'S CRAZY! Most companies probably think a cheap, dry cake and a plaque is all it costs them to get someone out the door for good. Think again. I think now there are two things that should only be given at 4:45 on a Friday afternoon: pink slips and retirement receptions.