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A less severe form of involuntary termination is often referred to as a layoff (also redundancy or being made redundant in British English). A layoff is usually not strictly related to personal performance but instead due to economic cycles or the company's need to restructure itself, the firm itself going out of business, or a change in the function of the employer (for example, a certain ...
The second factor is the risk of inequality being conditioned upon the political regime type in the country an employee is working in. [22] The amount of compensation will usually depend on what level the employee holds in the company. Packages may also vary if the employee is laid off, or voluntarily quits in the face of a layoff (VRIF).
When offered, golden handcuffs are extremely tempting as they usually are of great value compared to the employee's annual salary. The experience that follows an agreement of this sort may be draining and abhorrent, which is why the contract must be thoroughly analysed and thought about until an intelligent conclusion or compensation, that benefits both the company and the employee, is agreed ...
Business letters are the most formal method of communication following specific formats. They are addressed to a particular person or organization. A good business letter follows the seven C's of communication. The different types of business letters used based on their context are as follows, Letters of inquiry; Letters of claim/complaints
While turnover includes employees who leave of their own volition, it also refers to employees who are involuntarily terminated or laid off. In the case of turnover, HR's role is to replace employees, while positions vacated through attrition may remain unfilled. Employee churn refers to the total number of attrition and turnover cases combined.
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