Termination Management Flashcards
Define Termination
Termination is the voluntary or involuntary ending of the working relationship between an employee and a business
Types of Voluntary Termination (2)
- Resignation
2. Retirement
Types of Involuntary Termination (2)
- Redundancy
2. Dismissal
Define Retirement
Retirement is the voluntary termination whereby the employee decides to permanently leave the workforce
Define Resignation
Resignation is the voluntary termination whereby the employee decides to leave the business, usually to go to another job
Why would some resign (2)
- Dissatisfied with management or the real corporate culture within the business
- Better opportunity elsewhere
Define Redundancy
Redundancy is the involuntary termination whereby the employee’s job will no longer exist in the business
Define Dismissal
Redundancy is the involuntary termination whereby the employer forces the employee to leave the business
What are some common reasons for making someone redundant (2)
- Technology replacing their job
2. Restructure of business and the required staff
What are some common reasons for dismissing someone (2)
- Continued poor performance
2. Misconduct
Define Entitlement issues
Entitlement issues are the things that the employee is eligible to receive after being terminated in any form, involuntarily or voluntarily.
What are examples of entitlement issues (3)
- Remuneration (Wages or Salary)
- Accrued leave pay
- Long service leave if applicable (Worked for more than 7 years)
What are the types of Transition issues (2)
- Outplacement services (Redundancy)
2. Transition services (Retirement)
Define Outplacement services
They are services provided by the business for the employee in order to help employees find new work.
Examples of Outplacement services (3)
- Resume writing
- Skills training
- Job search
Define Transition services
They are the services provided by the business for employees who are retired, they aim to make the transition to retirement easier for both the employee and business
Examples of Transition services (3)
- Lifestyle planning
2. Assistance organising superannuation
