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Human Resource
Management
Presentation
Made By:
Karan Kamboj
Layoff
Definition:
Suspension or termination of employment (with
or without notice) by
the employer or management. Layoffs...
Reasons of Layoffs
1. This is usually because the company is facing
financial difficulties.
2. This is a method whereby an...
Voluntary Retirement Scheme (VRS)
Definition:
Voluntary retirement schemes are
programs offered by employers to
provide re...
VRS Cont…..
Voluntary retirement scheme (VRS) refers to
voluntary retirement scheme,
when company faces the problem of sur...
VRS Cont……
• Voluntary retirement programs offer employees
an incentive to commit to employment with their
employer for a ...
Golden Handshake
Definition:
Generous bonus offered to
a director, employee,
or partner as
a severance payment, or
an indu...
Golden Handshake Cont….
A stipulation in an employment agreement
which states that the employer will provide a
significant...
Golden Handshake Cont….
This can be in the form of cash, equity, and
other benefits, and is often accompanied by
an accele...
Exit Interviews
In human resource terms, an exit
interview is a survey that is conducted
with an employee when he or she
l...
How are Exit Interviews
conducted?
The exit interview may be conducted through a
variety of methods. Some of the methods
i...
Exit Interview Cont….
An exit interview is a survey conducted with an
individual who is separating from an organization or...
Exit Interview Cont….
Some examples of the value of conducting exit
interviews include shortening
the recruiting and hirin...
THANK YOU
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Human resource management presentation

Layoff, VRS, Golden Hand Shake and Exit Interview

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Human resource management presentation

  1. 1. Human Resource Management Presentation Made By: Karan Kamboj
  2. 2. Layoff Definition: Suspension or termination of employment (with or without notice) by the employer or management. Layoffs are not caused by any fault of the employees but by reasons such as lack of work, cash, or material. Permanent layoff is called redundancy.
  3. 3. Reasons of Layoffs 1. This is usually because the company is facing financial difficulties. 2. This is a method whereby an investment banking firm, who has committed to buying up all the unsubscribed shares during a rights offering, will reduce the time risk involved due to the difference between entering into the contract and selling the shares. In other words, they are hedging against any losses due to time.
  4. 4. Voluntary Retirement Scheme (VRS) Definition: Voluntary retirement schemes are programs offered by employers to provide retirement benefits to long- term employees before the employees’ projected retirement dates. Businesses and organizations often offer voluntary retirement schemes as a method of workforce reduction and to reduce long-term costs.
  5. 5. VRS Cont….. Voluntary retirement scheme (VRS) refers to voluntary retirement scheme, when company faces the problem of surplus labor, they have to remove the extra workers. This needs to be done to avoid increase in cost. One of the methods used by the companies is the methods used by companies is the VRS scheme. Under this scheme people have put in 20 or more number of years of service are given an option to opt for early retirement benefits and some other amount which is due to them are paid when they leave the company.
  6. 6. VRS Cont…… • Voluntary retirement programs offer employees an incentive to commit to employment with their employer for a significant number of years. Voluntary retirement programs can also provide employees with an option to retire before the minimum age of a government pension scheme. • It is an offered to certain employees as an incentive to retire. It usually contains generous benefits and is typically targeted at employees in middle age and/ or those who have been with a company for a considerable amount of time.
  7. 7. Golden Handshake Definition: Generous bonus offered to a director, employee, or partner as a severance payment, or an inducement to leave the firm without making a fuss or creating a controversy. See also golden boot.
  8. 8. Golden Handshake Cont…. A stipulation in an employment agreement which states that the employer will provide a significant severance package if the employee loses their job. A golden handshake is usually provided to top executives for loss of employment through layoffs, firing or even retirement. Payment can be made several ways, such as cash, or stock options.
  9. 9. Golden Handshake Cont…. This can be in the form of cash, equity, and other benefits, and is often accompanied by an accelerated vesting of stock options. According to Investopedia, golden handshake is similar to, but more generous than a golden parachute because it not only provides monetary compensation and/or stock options at the termination of employment, it includes the same severance packages executives would get at retirement.
  10. 10. Exit Interviews In human resource terms, an exit interview is a survey that is conducted with an employee when he or she leaves the company. The information from each survey is used to provide feedback on why employees are leaving, what they liked about their employment and what areas of the company need improvement. Exit interviews are most effective when the data is compiled and tracked over time.
  11. 11. How are Exit Interviews conducted? The exit interview may be conducted through a variety of methods. Some of the methods include: in-person, over the telephone, on paper, and through the Internet such as with Nobscot’s WebExit.
  12. 12. Exit Interview Cont…. An exit interview is a survey conducted with an individual who is separating from an organization or relationship. Most commonly, this occurs between an employee and an organization, a student and an educational institution, or a member and an association. An organization can use the information gained from an exit interview to assess what should be improved, changed, or remain intact. More so, an organization can use the results from exit interviews to reduce employee, student, or member turnover and increase productivity and engagement, thus reducing the high costs associated with turnover.
  13. 13. Exit Interview Cont…. Some examples of the value of conducting exit interviews include shortening the recruiting and hiring process, reducing absenteeism, improving innovation, sustaining performance, and reducing possible litigation if issues mentioned in the exit interview are addressed. It is important for each organization to customize its own exit interview in order to maintain the highest levels of survey validity and reliability.
  14. 14. THANK YOU

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