Separation Management
The reason businesses conduct exit interviews is to get information about an employee’s work experience with the company. This information could be valuable all on its own or used with other exit interview data.
Many companies have an employee’s supervisor administer the exit interview. This is not a good idea. If an employee had an issue with their supervisor, then chances are that it will not come to the surface during the interview.
Another option is to have human resources conduct the interview. Since HR is considered the keeper of employee references, employees don’t really open up to HR. At this point in their career, they don’t want to burn bridges. So this becomes a futile exercise. If you really want employees to provide open, honest and unfiltered feedback, consider engaging a neutral, third party to conduct the interview.
'Veritech' helps improve the workplace and increase engagement and create an exit interview process that yields good results. Included in the process a solid plan to review and act on those results. With solid information, you can incorporate positive change and hopefully, reduce the need for exit interviews.
"Full and Final Settlement:"- 'Veritech' aids in easing the payment or recovery procedure initiated during the resignation process. The Full & final settlement can be done in the last working payroll month or in subsequent months. The employee's dues can be settled first and then he can resign or the company gives effect to the final settlement at a later date after the resignation. The Full & Final Settlement amount is calculated after taking into account the loan balance of the employee's, Notice Pay Payable and based on the leave balance, the Leave Encashment.