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By giving employees the option to resign instead of getting retreched/fired, it is a win-win situation for both parties. The employer will not have to provide a compensation package, while the employee will not have a 'black mark' on their resume. According to the Ministry of Manpower, the prevailing norm is to pay a retrenchment benefit of between 2 weeks to 1 month salary per year of service, depending on the company’s financial position and the industry.
Regardless, losing your job isn’t the end of the world, so it is important that you stay calm and positive as you navigate the temporary difficulties. This article provides a guide on how to manage your finances if you were to lose your job.
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Few reasons I can take of:
1) save money - company in financial difficulties cannot afford to pay notice period
2) dun wan staff to look bad (retrench and sack sounds negative)
3) the staff is underperforming - term as counselled out.
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If u value face or resume, u tender but company save on compensation. if u value money, dont tender and wait for compensation
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IMHO, in some cases, it may be to "save face / trouble" for both parties ?...
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Win-win situation. If company terminate a staff, they need to keep proper evidence for the reason, i.e. several warning letters issued or other supporting documents. The resume on staff will not look good if it's a termination too. So save troubles for both of them.