College Connection | Fall 2024
Transition out of practice can be a challenging decision
College Connection | Fall 2024
Transition out of practice can be a challenging decision
For veterinarians approaching retirement , the fall annual licence renewal may prompt thoughts about transition to retirement . It is common for the College to receive questions from veterinarians about their licence when they are planning to retire .
For those considering retirement from a professional role , research shows these decisions are challenging , and future retirees often worry about this phase of their lives . 1 , 2 Determining the final years of work presents new uncertainties , 3 including concerns around financial stability , loss of professional identity , reduced social connections , and how one fills their time . 1 The loss of professional title may also be a concern . 4
Retirement doesn ’ t necessarily mark the end of a person ’ s active period of life . 5 Predictors of high satisfaction during retirement include financial security , timing of retirement , health , and social connections . Staying active , using work skills and imagining new endeavors are helpful . 4 A smooth transition is possible by incorporating post-retirement planning . 3
Planning early includes deciding when to retire and your income needs . If your work is full-time , consider when to reduce those hours , or perhaps stop working altogether . Consider when you might want to start pursuing other roles or hobbies and plan accordingly . 3
Continue to use your skills
Research on retiring human physicians has shown post-retirement work is common . Sometimes referred to as “ bridge employment ”, postretirement work allows a transition period from full-time work to full-time retirement . People can preserve their professional identity and ease into other components of their identity , as professional work becomes less central . 5 While maintaining reduced clinical hours , consider shifting to non-clinical duties such as teaching , mentorship , developing talent or a successor . 1 , 3 Maintain your licence if you practise veterinary medicine .
Pursue new roles
Pursuing a new line of work may fulfill an unmet professional or personal goal . These differing paths may require earlier planning to reach your financial goals . 3 This switch may ease the transition from one professional identity to a new one , reducing feelings of regret . 2 , 3 Health and social connections support satisfaction during retirement , and staying active helps the adjustment . 4 Foster supportive connections with friends and colleagues . Join a club or organization that you didn ’ t have time to before . 3
Seek retirement guidance
A recent study of veterinarians found nearly 20 % of participants reported not seeking retirement guidance , and just over 30 % reported not having adequate information . 1 This study identified the need to support veterinarians during transition to retirement on finances , logistics , and emotional aspects of this phase of life .
Professional associations can help to connect veterinarians to expertise on retirement planning . 1 Employers should consider this pool of talent and assist in their retirement transition . This may include providing access to career coaching or sabbaticals to explore new pursuits . Reduce clinical hours to provide time for reflection or access to non-clinical roles that support retirement needs . 2
Retirement & your licence
The College understands retirement decisions are difficult , and long-held occupational identities are hard to leave behind . 3 If you are considering resigning your licence , roles in animal care , mentoring and teaching are possible . Talk to our licensure team about your situation so we can advise you on whether or not your licence needs to be maintained .
References
1 . Kogan & Rishniw Career transition plans of veterinarians in clinical practice
2 . Ward The Four Mindsets of Retirement
3 . Alvarez The Last Days of Executives : Retirement and Beyond
4 . Price Professional women ’ s retirement adjustment : the experience of reestablishing order
5 . Manor & Holland Retiring in a white coat : Doctors working after retirement
Public confidence in veterinary regulation cvo . org 4