When an employment relationship has broken down, an exit package is often used to end the employment contract. They can be initiated by either the employer or the employee.
Exit Packages are attractive to both employer and employee.
Exit Packages allow the employer to bring the employment relationship to an end quickly, easily and without a lot of delay and expense.
There are many reasons for an employee to need to leave a job. Sometimes it’s the arrival of a new CEO who wants to place their ‘own people’ in pivotal roles. Suddenly responsibilities change, new middle managers appear, and employees find themselves doing the same job but with less status. Alternatively, an employer may genuinely need to restructure a business, resulting in redundancies, or the business may be in trouble and the employee is able to see the writing on the wall.
Sometimes you can tell you are no longer wanted or needed through no fault of your own. An Exit Package is a much more attractive option than simply resigning.
Whatever the reason it’s always best to make a dignified exit.
Many problematic employment relationships do not end by dismissal or resignation, but through the negotiation of an Exit Package.
The perception comes from dissatisfaction in the workplace for the employee, performance issues for the employer and most often when a disciplinary meeting takes place. An exit package is attractive to both parties when the employment relationship has no real future.
Typically, such a package will contain some financial benefit for the employee and possibly a reference. The employer can have the assurance that any grievances or claims arising out of the employment relationship (existing or yet to be raised) are at an end.
Our advocates can recognise the opportunity for an exit package and negotiate the best possible package in the circumstances. It is always best to engage our advocates at an early stage so that this strategy can be considered and prepared together, making for the best outcome.
If you need help negotiating an exit package with your employer give us as much information as possible below or call us on 0800 669 466.
What is an exit package?
An exit package is when both the employer and employee come to a mutual agreement for the employment agreement to come to an end quickly and without a lot of delay or expense.
Typically, an exit package will contain some type of financial benefit for the employee, sometimes including a reference.
We can assist with ensuring the process is dealt with on a professional level and the agreed terms will be recorded in a record of settlement.
What does an exit package cost?
The cost of an exit package will depend on the length of time it takes to reach the final decision between employee and employer.
We can usually get your fees paid for by the employer, this is part of the negotiation process.
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