Termination management Flashcards
What is termination and why do we need to manage it?
Termination is the process whereby a business and an employee end their contract with one another
Retirement
Is when a employee voluntarily leaves the workplace and the workforce. The choice normally depends on whether an employee can afford to. A person thinking about retirement will need to consider whether they have repaid there mortgage.
Resignation
Resignation or ‘quitting’ is a voluntary ending of the employment relationship. People resign for a variety for reasons including : offer of promotion, To start their own business, Boredom with their current jobs, a change of lifestyle. The employee must give sufficient notice of his or hers intention to resign
Redundancy
Redundancy occurs when a job is no longer necessary, usually due to technological changes, restructuring, or a merger or acquisition. Redundancy can be either voluntary or involuntary. Voluntary redundancy occurs when employees are informed of the situation and given the opportunity to nominate themselves for redundancy
Dismissal
There will be occasions when the behaviour of an employee is unacceptable and it then becomes necessary for a business to terminate the employment contract of that employee.
Unfair dismissal: occurs when an employer dismisses an employee for discriminatory reasons .
Entitlement considerations
Whether the employee leaves the business through retirement, resignation, redundancy or dismissal, the employee will have a number of rights to certain benefits (or entitlements). These can include any wages, salary owing , as well as annual leave or long service leave
Transition considerations
When an employee leaves the business, whether through retirement, resignation, redundancy or dismissal, managers must consider the issues that relate to the process that the employee will go through in changing from one job to another, or from one set of circumstances to another
