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So far i know 'A golden handshake' is a hefty severance package which is offered to senior executives and other high ranking employees of a organization/company. I am serving as an HR personal nearly 7 years in a Financial Organization and which is situated in Asia. The company has it's own life cycle from beginning to till now. It has passed it's best time and now it is struggling for it's own existence/sustainability. The management of this company has decided to downsize it's human resources. For that they asked me to prepare an 'GOLDEN HANDSHAKE' scheme/policy for the company. I have heard about this scheme but have no idea how to make a final scheme/ policy. I am requesting to "Seniors" to guide me about it. Eagerly waiting for your responses.
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Golden Handshake scheme is related to
a. Public Private Partnership / Private investment in Public Enterprises
b. Sustainable Development / inviting foreign companies
c. Scientific Collaboration / Establishing joint enterprises
d. Voluntary Retirement
Your case is an option on voluntary retirement.
d. Voluntary Retirement
A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses his or her job through firing, restructuring, or even scheduled retirement. This can be in the form of cash, equity, and other benefits, and is often accompanied by an accelerated vesting of stock options.
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