GK
HUMAN RESOURCE MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
It is a gift.
|
|
|
It is a gratis.
|
|
|
It is a bribe.
|
|
|
It is a compensation.
|
Detailed explanation-1: -A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses their job through firing, restructuring, or even scheduled retirement.
Detailed explanation-2: -The term Golden Handshake was coined around 1960 in Britain. Golden Handshake can be referred to as the payment that is paid to someone because of the early retirement.
Detailed explanation-3: -VRS stands for voluntary retirement scheme, whereby an employee is offered to voluntarily retire from services before the retirement date. The scheme allows companies to reduce the strength of employees. It can be implemented by both the public and private sectors. VRS is also known as ‘Golden Handshake’