Have You Planned Your Transition?
The Next Step in Your Career
A family emergency this week has me thinking about transitions. Among arbitrators, there is occasional hand-wringing about our colleagues who seem near the end of their career, and yet continue to have a full calendar of hearings. What happens if, you know, something happens? And almost as frequently, one of our dear colleagues passes away without having informed their next of kin what to do with that caseload that didn’t die with him/her.
This is enough of a concern that the National Academy of Arbitrators has put together materials for its members to use in planning for an unexpected event or necessary transition (members can find this information in the Members section of the website under Transition Committee). In most cases, another arbitrator steps in to assist the family with notifying parties, and assists the parties in selecting another arbitrator to finish (or start) the case. Until then, most of us just cross our fingers and close our eyes and hope to live forever.
This isn’t a problem limited to arbitrators. It’s not even a problem limited to people in the sunset of their careers. Unexpected medical events happen all the time, as do great opportunities. Who would take over your caseload if you were made an incredible job offer? No matter what stage of career you are in, you should be thinking about your transition to the next thing, both in terms of career planning and life planning.
Here are some tips for planning in your early career:
Get life insurance: this is a must-do, full stop.
Make contributions to your retirement plan at work and/or elect to get the defined benefit plan if you expect to be at your job for more than five years (and there’s one available).
If you are not looking for another job, do something to get one at least once a week, including networking, thank you notes, and professional events. If you are looking for another job, take these actions every day. The reason to plan for your next job now is because employers don’t live forever, either, and events beyond your control can propel you back into the job market.
Make sure someone knows all of the things you are working on, either through a project list or case list or a 1:1 meeting with a supervisor. Don’t hide files or information.
As your career progresses, it’s essential to keep track of the work you do, what stage it’s in, and to cultivate mentees and contacts who could assist in an emergency. More than one of your colleagues should know who your next of kin is. This week an attorney called me concerned about another arbitrator who was not returning phone calls or emails. I referred him to another arbitrator who I thought could better assist him, but realized that I know very few of the spouses, assistants, or offspring of my colleagues.
Ideally, we would all have a binder that includes relevant contacts, passwords, appointing agency information, bank account information, and a reasonably current list of cases or panels, so that our family or friends could assist in pausing or winding down the business in the event it became necessary. I’ve put this on my to do list. Have I missed anything? Let me know in the comments.