As an employer you must have surely prepared for a seamless onboarding process for your new employees, but have you worked upon their relieving process? Well, the relieving process carries the same importance as the former but is often overlooked. The relieving procedure you follow impacts your employee loyalty program and your market review as an employer, therefore you need to follow a well-managed process. It includes – formalities that you need to check from your company’s data security perspective, settlement of various accounts issues and dues, relieving documentation work etc. To help you, here we list down some steps to follow for a seamless relieving procedure:
1) Plan The Transition Process
Generally, every employee is entitled to serve a notice period before his relieving, and this period is the best time to carry out a well-defined transition process. Make them pass their duties and responsibilities smoothly to the team until a replacement has been hired. In case a replacement has been hired, the relieving candidate can help him understand the various processes and train him to efficiently take over the tasks. With this, you must make the exiting employee pass the access for the various official tools to the replacement or the management. Various credentials offered to the employee needs to be changed to ensure privacy.
2) Record the total work hours
As an employer, it is your responsibility to keep the data of the total working hours and payroll information till the employee bids a final goodbye to the company. Some companies follow the hourly wage procedure so the count of the total hours will decide the post-pay amount that you would have to pay the employee. The Department of Labor law also mentions that everyone should meet the recordkeeping requirements.
3) Settle No Dues Agreement
If the exiting employee has any dues or owes the company some cash, it is the time to settle them down once for all. The employer should share the total record of dues specific to the exiting employee before his relieving. The employee can get it deducted from his final paycheck.
4) Discuss The Final Pay Settlement
As according to the Modern Awards Changes unveiled on 1st November 2018, the employer must pay the final pay-check of an existing employee within 7 days after his relieving. So you should be well prepared with other relieving formalities and the final pay-check details should also be shared with the employee well in advance. You can always go for Payroll services from Employment Innovations, where you can outsource the payroll management seamlessly at an affordable cost.
5) Collect Company’s Belongings
Every employee is given a certain set of digital assets and access to other resources belonging to the company during his service. However, before the employee is relieved from the company he is entitled to submit all these resources and devices belonging to the company.
6) Square Away Leaves
Squaring away the total time off is another thing the employer should keep in his mind. The total number of hours when the exiting employee was not on his duty or was on vacation or sick leave needs to be recorded. These records will help you make necessary deductions from the final pay-check.
7) A Feedback Interview Is A Must
As a present trend, a well-managed company believes in conducting an exit interview for each of its existing employees. The exit interviews help the employer get feedback about his own company, the work environment, the management processes, etc. This feedback can help you check the loopholes in your management.
Bring the above steps in practice to offer your employees a pleasant relieving gesture, making him a good mouth for you in the market.