Nearly two in five (37 percent) managers, directors, and executives believe their organization enacted layoffs in the last year because fewer employees than they expected quit during their RTO. And their beliefs are well-founded: One in four (25 percent) VP and C-suite executives and one in five (18 percent) HR pros admit they hoped for some voluntary turnover during an RTO.
Offer to come back as a consultant for 2x your previous pay
With work-from-home as a non-negotiable condition.
As a contractor, your client isn’t allowed to dictate your work methods. It’s one of the things the IRS looks at when identifying misclassified employees.
While true, it’s a bit more nuanced than that. They can absolutely have requirements in the contract that will put you on site. For instance, they can have you being the one to set up the conference room for the morning meeting. They can also categorically say that their VPN access is only for FTEs.
But as an independent business negotiating a contract, you just haggle these terms away. It’s still a good idea to document expectations, including work hours and locations.
5x pay. Independent LLCs have all sorts of expenses, including taxes/marketing/accounting/etc.
Health insurance…
So much this. Health insurance is the primary reason I have a salaried position.
Yep. I’ve done exactly that. Something overlooked a lot of places is to actually start an LLC (it does cost a bit, especially if you’re strapped) if you can because that protects you. If you screw something up by accident a company can either come after you personally or the business that employs you.
Simply having an LLC isn’t enough- it’s the separation of personal and business that enables protection. Until you have other employees, this is really hard to do/show.
If you’re going to go this route, you should probably talk to an attorney anyway.
And an accountant, but yeah this is solid advice. It was definitely something I knew but didn’t realize that it’s harder than it looks back when I did it.
Funnily enough I heard that internally they were talking about asking to have me come back as a contractor (with insane pay) but I was so much enjoying my time away from such a toxic company that nothing could make me return. I took a 7-month staycation after quitting just to unfuck how much they fucked up my brain, self-worth, and anxiety
i dunno, grinding for a few years on contractors income and funneling it all into a pension sounds like a pretty good way of retiring early.