Add Process to Parting- Exit Management

A topic that’s currently trending in the HR space is IT layoffs. The top seven companies — Infosys Ltd, Wipro Ltd, Tech Mahindra Ltd, HCL Technologies Ltd, Cognizant Technology Solutions Corp. and DXC Technology Co, and Cap Gemini SA which together employ 12,40,000 people, will lay off  4.5% of their workforce in 2017. The number is twice the employees laid off by these companies in the year 2016, reports Livemint.

When these exits are not handled in an amicable manner, it calls for heavy criticism and negative media coverage. With multiple tasks like resignation form approvals, multiple department clearances, agreeing on an amicable last date, F& F (Full and Final) settlement processing and conducting exit interviews the separation process is a laborious and tiring process. There are also chances that a delay in these tasks leads to the employee leaving with a bad impression. Having a fully digitalized separation process aids in giving a structure to the entire process reducing complexity and saving time.

exit management

The run-up to resignation 

With a digital solution, the entire process of resignation, approval by the manager and HR is presented on a transparent forum. At this stage, it is very important that both the parties agree on a mutual last day and in the case of exceptions the HR steps in to ensure that dissatisfaction is limited.

Getting the checklist automated

The exit procedure generally varies for different levels of management. With custom workflows on a digital platform, the entire approval process is streamlined with multiple approvals from the IT team, the finance team happening simultaneously according to the configured settings without a delay. This keeps a check on ensuring strategic functions like conducting exit interviews are carried out.

Full and Final Settlements

With all data integrated on onto one platform the time taken for full and final settlement gets considerably reduced. India’s largest digital commerce fulfillment firm automated their entire HR process on a unified platform and reduced their full and final settlement period from 62 days to 13.5 days.

The technology aims to ease the process of leaving HR with the right amount of time to focus more on the sensitive aspect of separation.

Sindhu JP
About The Author

Sindhu JP

Sindhu JP is a Marketing Executive at Darwinbox.

Add a comment

*Please complete all fields correctly

Related Blog posts

Posted by Parishmita Chakrabarty | July 9, 2018
Learning to tailor to the right size – Manpower Planning
Accurate and timely manpower planning is critical for any organization to stay ahead of their competition. Simply because by tailoring to the right size, organizations can make sure that they...
Posted by Akanksha Tanwar | May 30, 2018
Why employee wellbeing should be central to all HR endeavours
Let’s get this straight. Today, most of us lead stressful lives, stressing about the problems we have but unfortunately, not stressing enough on measures to get rid of it. And...
Better engage millennials
Posted by Sindhu JP | May 23, 2018
6 HR Tech must haves – To engage Millennials
Millennials - A generation that comes to work with anything but a plan. Always on the lookout for opportunities to learn and improvise; millennials are willing to go the extra...
%d bloggers like this: