Golden Handshake

What is Golden Handshake ?

  
‘Golden Handshake’ refers to the additional clause of benefits provided by the company to an employee who would lose their job or position in case the company is restructuring or in some cases, even retirement.
 
Golden handshakes are provided to senior level employees who the company is afraid of losing to competitors. They are also used as an additional incentive to attract talented individuals to take up leadership level roles in the organization.
 
Some examples of golden handshakes include monetary benefits, providing equities in the company as well as providing stock options for the employee. Similarly, the company might also provide additional incentives like annual international vacation packages or even additional retirement benefits apart from the ones stipulated by law.

More HR Terms

Team Building

What is Team Building?   ‘Team building’ is a process that promotes collaboration, trust, and synergy among group members, leading to better communication and shared

Algorithmic Transparency

What is Algorithmic Transparency ? ‘Algorithmic Transparency’ is the openness related to an algorithm’s purpose and major functionalities. Although full algorithmic transparency can only be

Informal Communication

What Is Informal Communication?   ‘Informal Communication’ refers to the casual communication which happens between two employees as two individuals out of the business context.

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