Staff Separation
ICSE · Class 12 · Business Studies
Flashcards for Staff Separation — ICSE Class 12 Business Studies. Quick Q&A cards covering key concepts, definitions, and formulas.
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What is staff separation?
Answer
Staff separation means separation of an employee from the organisation in which he/she has been employed and working. It is also known as attrition. It happens when employment ends or is interrupted f…
Why is a high rate of staff attrition harmful?
Answer
A high rate of staff attrition is harmful because it increases the cost of hiring and training new employees, creates instability in staff, interrupts work, and reduces organisational performance.
What is retirement?
Answer
Retirement is separation of an employee from service on attaining the age of superannuation, before it under incentive schemes, or due to disease or disability. Retirement is a normal form of staff se…
What is compulsory retirement?
Answer
Compulsory retirement happens when an employee retires on reaching the prescribed retirement age. In Government service, the retirement age is 60 years. At retirement, the employee receives provident …
What is voluntary retirement or Golden Handshake?
Answer
Voluntary retirement or Golden Handshake is retirement when an organisation offers liberal incentives to employees who leave before superannuation. It is used when there is surplus staff. Employees wh…
What is premature retirement?
Answer
Premature retirement means an employee retires before the retirement age due to disease or disability and receives full retirement benefits. It is different from voluntary retirement under a Golden Ha…
How does retirement age usually differ between government and private sector jobs?
Answer
In Government service, the retirement age is 60 years. In the private sector, the retirement age is generally higher than in government, though it may vary from one organisation to another.
What is layoff?
Answer
Layoff means temporary removal of an employee from the payroll due to circumstances beyond the control of the employer. The employer-employee relationship continues, and the worker is expected to be r…
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