The Employee Resignation And Termination Policy is essential for organizations operating in Singapore to effectively manage employment separations while ensuring compliance with local regulations. This document becomes necessary as organizations grow and require standardized procedures for handling employee exits. It incorporates requirements from Singapore's Employment Act, Fair Consideration Framework, and MOM guidelines, covering aspects from notice periods to final settlements. The policy helps organizations maintain consistency in handling resignations and terminations while minimizing legal risks and ensuring fair treatment of employees.
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Key Requirements PROMPT example:
Employee Resignation And Termination Policy
"I need an Employee Resignation And Termination Policy for my Singapore-based technology startup with 50 employees, focusing particularly on protecting our intellectual property during employee exits and ensuring smooth knowledge transfer procedures."
1. Purpose and Scope: Defines the objective of the policy and who it applies to within the organization
2. Definitions: Key terms used tHRoughout the policy including types of termination, notice period, garden leave, etc.
3. Notice Period Requirements: Details of required notice periods for different employee categories as per Employment Act and company policy
4. Resignation Procedures: Step-by-step process for submitting and processing resignations, including documentation requirements
5. Termination Procedures: Comprehensive process for different types of termination including with cause, without cause, and mutual separation
6. Final Settlement: Process for calculating and paying final settlements including salary, unused leave, and other benefits
1. Garden Leave: Provisions for garden leave during notice period, typically used for senior positions or roles with access to sensitive information
2. Post-Employment Restrictions: Non-compete and non-solicitation clauses for senior employees or those with access to confidential information
3. Retrenchment Procedures: Specific procedures for retrenchment exercises, relevant for larger organizations or those likely to undergo restructuring
1. Schedule 1 - Notice Period Table: Detailed table showing notice periods for different employee categories and positions
2. Schedule 2 - Exit Interview Form: Standard form template for conducting exit interviews
3. Schedule 3 - Handover Checklist: Comprehensive checklist for returning company property and handover of duties
4. Schedule 4 - Final Settlement Calculation Template: Template for calculating final payments including pro-rated benefits, leave encashment, and other entitlements
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