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On-going conflict in the workplace is not good for anyone. If you have a problem employee whom you think is keen to leave but they just won’t go or you want to avoid a drawn-out disciplinary process, consider negotiating an exit package. A managed exit can be the best outcome for everyone as you can all move on, while also satisfying the terms and conditions of both sides.
This is an agreement that the employee will resign in return for payment or benefits. The agreed terms will be recorded in a ‘Record of Settlement’ document which both parties sign, commonly referred to as a ‘Settlement Agreement'.
The exit package is confidential and will include your terms and conditions such as the date the employment will end, the employee not being allowed to make disparaging comments about your business and it removes their ability to raise a personal grievance against you anytime in the future. You can include anything else you need to effectively transition the employee out of your organisation and retain your professional reputation.
It's important that exits are handled well by employers. Some benefits of a well-managed negotiated exit include:
The bossed team strongly recommends contacting us for advice before beginning negotiations. The following steps are the usual steps an employer will follow when negotiating an employee's exit:
We will support and represent you throughout the process; providing sound, practical advice and keeping interactions professional and confidential. We are Human Resource and Employment Relations experts. We’re experienced negotiators and because we’re familiar with the rights and obligations of both parties, we will confidently work towards the most favourable settlement terms for you (within the terms of the employment contract).
Before you begin exit negotiations contact the team at bossed for advice. Our experts will ensure you're acting within your legal rights and will help you work out the best available outcome for your business.