Professional Documents
Culture Documents
Voluntary Retirement Scheme1 115
Voluntary Retirement Scheme1 115
Voluntary Retirement Scheme1 115
WHAT IS VRS?
The Voluntary Retirement Scheme
(VRS) is the latest mantra of many a
corporate and Public sector units.
1. Provident fund
3. Gratuity
The company must have a genuine reason for the downsizing. It should
not be a 'slogan of the week ' nor should it be to oblige blindly the
conditions of the global partner. The company must be having some
genuine reasons to offer the VRS and this is the first step in getting the
things right.
The trade union also should be taken into confidence and the
all the facts of the scheme should be explained to them.
MEASURES
In the actual implementation of the scheme the
different age limits are suggested for different levels
and this concept has been extremely successful. The
logic given behind this concept is that the people with
higher skills retain their productivity for the longer
time. Also since the qualified personnel are less in
number than that of unqualified ones the model is
designed in that manner.