You have not mentioned your country, designation, industry, the length of service of the employee, the employee's age, or why you would like to have a golden handshake with that employee. When an organization undergoes major restructuring, it often involves the departure of long-serving employees. This process is commonly referred to as a "Voluntary Retirement Scheme" (VRS) or, in more refined terms, a "golden handshake." However, it is crucial that their exit is handled smoothly and graciously. As part of this, these long-serving employees are typically offered substantial compensation.
Understanding Voluntary Retirement Scheme (VRS)
VRS is typically rolled out for a large number of employees, whereas your situation seems to be more specific. Is this limited to just one employee? If a golden handshake is provided to one employee, what if others also request the same? How do the retirement benefits compare to the VRS package? It's essential to consider the overall implications of the VRS scheme to avoid any unintended negative consequences.
Drafting the Note
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All the best!
Regards,
Dinesh V Divekar
Bangalore - 560092